FDIC-Insured - Backed by the full faith and credit of the U.S. Government

Woori America Bank

SBA Loans

 

Woori America Bank Small Business Administration Loan is a government guaranteed loan that provides various funding solutions to help small businesses get started and grow.

Whether it's an SBA 7(a), SBA Express or SBA 504 loan, they are more affordable compared to other conventional loans.

  • Longer repayment terms. Lower monthly payment.

  • Lower down payments. Lower one time upfront cost.

Comparison Chart

Type

SBA 7(A)

SBA Express

504

Type of Loan & Use of Proceeds

  • Term Loan

  • Working capital

  • Furniture and fixtures

  • Machinery and equipment

  • Purchase of land and building including construction and renovations

  • Business Acquisition

  • Refinancing of existing debt

  • Term Loan

  • Revolving line of credit

  • Use of proceeds: Same as SBA 7(a)

  • Term Loan

  • Structure

  • 10%: Down for Borrower

  • 40%: Financing from CDC

  • 50%: Financing from Bank

  • 15% down for New or Special

  • Acquisition, Construction, Renovation of Building

  • Machinery & Equipment Purchase

Maximum Loan Amount

Up to $5,000,000

Up to $500,000

Up to $5,000,000

Guaranty portion

75%~85%(85%=$150,000 or less) (75%=Over $150,000)

50%

100% of CDC portion

Guaranty Fee (based on guaranteed portion)*

For loans of $1,000,000 or less: 0.00%.

 

For loans of $1,000,001 to $5,000,000: 3.5% of the guaranteed portion of the loan up to and including $1,000,000, plus 3.75% of the guaranteed portion of the loan over $1,000,000

N/A

N/A

Maximum Maturity

  • Working Capital : 10yrs

  • Equipment : Useful life

  • Property : 25yrs

  • Mixed Use : Weighted Avg (Up to 25yrs)

  • Same as SBA 7(a)

  • LOC - 10yrs including term out period

  • Property: 20yrs & 25yrs

  • Equipment: 10yrs

*Guaranty Fee is updated annually by SBA's Information Notice.

Have a Question?

For more information, please call customer service at 1-888-MyWoori (699-6674) or contact us online.