By Hector Palomares V.P. & SBA Portfolio Manager, Mission Valley Bank When it comes to the purchase or renovation of commercial real estate; business purchases and expansions; franchising; partner buyouts; or working capital needs, borrowers should take a closer look at the SBA Loan Programs currently available. Some of the SBA Loan Programs offer up to 90 percent financing, fully amortized with no balloon payments — with a maximum loan amount of $5,000,000 and terms as long as 25 years. The SBA provides a number of financial assistance programs, and each is specifically designed to meet key financing needs for the growing business. The most common and broad-reaching is the 7a Program, which facilitates debt refinance; equipment and/or inventory purchase, heavy machinery purchase, partner buyouts, franchise financing, leasehold improvement and/or working capital needs, to name a few. Work with an experienced SBA Preferred Lender like Mission Valley Bank to learn more about how the SBA programs may assist your financial needs. SBA loan guaranty requirements and practices change as the Government alters its fiscal policy and priorities to meet current economic conditions. SBA does not make loans directly to small businesses. Rather, the SBA sets the guidelines for these loans. Therefore, you can’t rely on past policy when seeking assistance in today’s market, making it even more important to work with an experienced preferred lender that can guide you through the process and identify the SBA program(s) that may best fit your financial needs. SBA loans make it possible for qualified businesses to get the financing they need, often times with much more flexible terms than conventional loans. Two resources to help you learn more about the SBA Programs are available at www.sba.gov or www.MissionValleyBank.com. Hector Palomares is the vice president and SBA portfolio manager at Mission Valley Bank, a locally owned, full-service, independent, commercial bank with Preferred SBA Lender status serving the San Fernando and Santa Clarita Valleys. Hector can be reached at (818) 394-2329 and by email at HPalomares@missionvalleybank.com or at www.MissionValleyBank.com.