May 6, 2021
Funding for the Paycheck Protection Program is now exhausted. The SBA is only offering PPP loans originated by Certified Development Companies (CDCs), SBA Microlenders, Community Development Financial Institutions (CDFIs), and Minority Depository Institutions (MDIs) until May 31, 2021. LGE does not fall within the categories as listed above and therefore is no longer able to accept PPP loan applications.
Please visit the SBA website for additional information.
LGE is an SBA (Small Business Administration) approved lender, which allows us to extend lending beyond the scope of standard financing. SBA loans make it possible to qualify your business more easily. Even better, an SBA loan can mean lower down payments and a longer time to repay. At LGE, we make applying for an SBA loan smooth and easy. Our Business Loan Officers will guide you through the process.
Some applications may require further consideration and additional information may be requested. Credit is subject to approval. Normal credit standards apply.
The Small Business Administration (SBA) has created a program of government-guaranteed loans designed to help give small businesses that may not otherwise qualify for credit get the funds they need. SBA loans make it possible to qualify businesses more easily and provide them with more flexible terms than conventional loan options, letting you preserve working capital for other expenses.
Qualifying for an SBA loan is easier than qualifying for other loans. First, the SBA allows higher loan-to-value ratios. Depending on your loan request, you may be able to borrow up to 100% of your financing needs. Secondly, we can potentially offer longer finance terms with different payment options. This may be especially advantageous if your business is growing rapidly.
SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, or supply working capital for ongoing financing needs.
SBA loans are for businesses that are: