Acquisition Financing is United Bank’s business lending unit specializing in lending programs with government guarantee programs from the US Small Business Administration (SBA).
Work with United Bank’s Acquisition Financing Department when you are buying a business or refinancing a business.
Advantages of working with experienced commercial lenders:
- Efficient process reduces paperwork requirements and shortens timeframes
- United Bank’s SBA Preferred Lender status means faster processing for borrowers
- Flexible options fit the needs of businesses at every stage of growth
SBA 7a program offers:
- Loan sizes $100,000 to $3,750,000
- Competitive Interest Rates
- Financing potential up to 100% of loan value
- Streamlined underwriting
We want to learn more about your business and learn how United Bank and the Small Business Administration can best serve you.
United Bank is an SBA Preferred Lender
The Small Business Administration recognizes a few financial institutions as preferred lenders, sometimes referred to as PLP status. The Preferred Lender Program (PLP) gives United Bank the authority to process, close, service, and liquidate most SBA-guaranteed loans without prior review. The result for borrowers is faster processing.
“Only SBA’s most secure and capable lenders receive the PLP designation. We’re pleased to have United Bank on the list.”
— Eric Ness, Wisconsin District Director for the SBA.
What Does SBA Offer to Small Business Owners?
What does SBA offer to small business owners? The programs are many and varied, and the qualifications for each are specific. SBA can help facilitate a loan for you with a third party lender, such as United Bank. Understanding how SBA works is the first step towards receiving assistance.
SBA provides a number of financial assistance programs for small businesses that have been specifically designed to meet key financing needs, including debt financing, surety bonds, and equity financing.
Guaranteed Loan Programs
SBA does not make direct loans to small businesses. Rather, SBA sets the guidelines for loans, which are then made by its partners (lenders, community development organizations, and microlending institutions). The SBA guarantees that these loans will be repaid, thus eliminating some of the risk to the lending partners. So when a business applies for an SBA loan, it is actually applying for a commercial loan, structured according to SBA requirements with an SBA guaranty. SBA-guaranteed loans may not be made to a small business if the borrower has access to other financing on reasonable terms.
SBA loan guaranty requirements and practices can change as the Government alters its fiscal policy and priorities to meet current economic conditions. Therefore, you can’t rely on past policy when seeking assistance in today’s market.
Eric Rogness, Vice President & Senior Lender