Small Business Lending

HomeTrust Bank is a national SBA 7(a) Lender providing financing solutions to business owners with maximum loan amounts up to $5 million. As a PLP Preferred Lender, HomeTrust Bank can help you find the right financing solution for your business.

Typical loan purposes include:

 

  • Business Acquisitions – Up to 90% of total acquisition/project costs supported by an independent business valuation. Financing available up to a 10-year term.
  • Owner Occupied1 Commercial Real Estate – Up to 90% financing of the total acquisition/project costs supported by a commercial real estate appraisal. Financing is available up to a 25 year term with no balloon. The loan structure can be blended to include improvements, equipment, and other needs
  • Debt Consolidation/Refinance Existing Business Debt – No collateral coverage requirements unless dictated by the SBA SOP; typically a blanket lien on all business assets or any assets financed by the original use of the loan proceeds being refinanced is required. Financing is available up to a 10-year term on non-real estate collateral/use of proceeds and up to a 25-year term on eligible commercial real estate.
  • Business Expansion – Financing typically up to 90% of the total project costs with no collateral coverage requirements unless dictated by the SBA SOP. Typically a blanket lien on all business assets or any assets financed by the loan proceeds is required. Financing is available up to a 10 year term. Use of proceeds can include leasehold improvements, equipment, inventory and working capital.
  • Equipment Financing – Up to 100% of invoice on new equipment purchases, including freight, sales tax, and closing costs.
  • One loan can include several uses of proceeds, including closing costs and working capital.
  • There is no prepayment penalty on loan terms less than 15 years and typically there are no standard loan covenants.
  • Construction to Permanent Financing is available through the SBA 7(a) Guaranty Program.

 

Eligible industries may include, but are not limited to:

  • Assisted Living
  • Auto Repair
  • Franchises
  • Gas Stations
  • Hotels
  • Insurance Agents
  • Investment Advisors
  • Medical & Dental
  • Office Buildings1
  • Professional Services
  • Skilled Nursing
  • Quick Lube

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USDA Business and Industry Guaranteed Loan Program

HomeTrust Bank is an USDA Business and Industry (B&I) Lender, providing financing solutions across the country to business owners with maximum loan amounts up to $25 million in rural areas including cities and towns with a population less than 50,000. The USDA B&I Loan Program may provide businesses that qualify with a higher loan amount and longer repayment terms.

Maximum term:

  • Up to 7 years for working capital.
  • Up to 15 years for machinery and equipment (or useful life).
  • Up to 30 years for commercial real estate (or useful life).

Appraisals:

  • All collateral must secure the entire loan and Borrower Equity requirements must be met.
  • Bank ordered appraisal reports prepared by qualified appraisers are required on all property that will serve as collateral.

Borrower equity required:

  • Minimum of 10% tangible balance sheet equity required for existing businesses.
  • Minimum of 20% tangible balance sheet equity required for start- up businesses.
  • Equity is calculated from GAAP compliant financial statements.
  • Feasibility studies may be required.

Typical loan purposes include:

  • Business and industrial acquisitions, construction, conversion, repair, expansion, modernization or development costs.
  • Purchase equipment, machinery or supplies.
  • Start-up costs and working capital.
  • Processing and marketing facilities.
  • Pollution control and abatement.

Eligible borrower categories may include:

  • Individuals, corporations, cooperatives, partnerships and other legal entities.
  • Public or private.
  • For-profit or non-profit.

Eligible industries may include, but are not limited to:

  • Assisted Living
  • Auto Repair
  • Franchises
  • Gas Stations
  • Hotels
  • Insurance Agents
  • Investment Advisors
  • Medical & Dental
  • Office Buildings1
  • Professional Services
  • Skilled Nursing
  • Quick Lube

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Contact an SBA banker in your area.

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