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SBA Loans

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Loan Programs Designed for Small Business Owners

Small businesses are the backbone of any community. These businesses provide jobs and make investments to help make their communities better places to live and work. At American Community Bank, we know that small business owners face unique challenges to help their business thrive. That’s why we provide Small Business Administration (SBA) loan programs that are designed to specifically meet the needs of small businesses to help them overcome those challenges. Please contact our lenders to learn more about how you can qualify for an SBA loan and how it can help your business.

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How Can I Use an SBA Loan?

SBA Loans can be used for a variety of business purposes ranging from the purchase of equipment to office or manufacturing space. All SBA loans are focused on helping business owners establish, manage and expand their small business. The SBA loans we offer can be used to:

  • Purchase machinery and equipment related to the function of your business
  • Expand working capital
  • Finance an acquisition to expand your business
  • Make improvements to your current facilities or purchase new space to expand your business

SBA Loan Types and Details

Loan Type
SBA 7(a) Loan#SBA 504 Loan
Uses
  • To purchase and install machinery and equipment
  • To purchase furniture, fixtures and supplies
  • To finance a change of ownership (complete or partial)
  • To acquire, refinance or improve real estate and buildings
  • To provide short- and long-term working capital
  • To refinance current business debt
  • To make multiple purpose loans, including any of the above
  • To finance existing buildings or land
  • To finance new facilities
  • To finance long-term machinery or equipment with a useful remaining life of a minimum of 10 years
  • To finance the improvement or modernization of: (1) land, streets, utilities, parking lots and landscaping, or (2) existing facilities
Loan Rates

Fixed or variable

Fixed or variable

Loan Terms
  • Up to 7 years for working capital
  • Up to 10 years for equipment
  • Up to 25 years for real estate
  • Up to 10 years for machinery and equipment
  • Up to 20 years for real estate
Other requirements

Business entity must have:

  • A net worth less than $15 million, AND
  • An average net income for the preceding two (2) fiscal years of less than $5 million

Business entity must have:

  • A net worth less than $15 million, AND
  • An average net income for the preceding two (2) fiscal years of less than $5 million

#There is also an Express Loan product, for loans up to $350,000, that features an accelerated turnaround time for loan approval.

If you would like more information about the loan programs available through the SBA, please visit their website.

SBA Website

Contact Our Commercial Lenders

Rick Gard

Rick Gard

Vice President, Commercial Lending

NMLS: 1841969

Location: Schererville Office

Phone: (219) 440-5990

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Brian Specht

Brian Specht

Senior Vice President & Credit Manager

NMLS: 791121

Location: Schererville Office

Phone: (219) 440-5990

Contact Me