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Home About Drake Directors Hours & Location  Drake Bank Business Banking & SBA Loans Contact: Jeff Carter, VP Business Lending, Drake Bank, 60 East Plato Blvd. St. Paul, MN 55107; Phone Number: (651) 767-9816; Fax Number: (651) 767-9836Email Jeff Carter at jcarter@drake-bank.com  

SBA Loans

SBA Loans offer lower down payments and longer repayment terms than many other financing options. They are smart, affordable solutions for small businesses looking to grow their business. Consider refinancing conventional business loans. If eligible, SBA guarantees a 20% savings!

SBA 7(a) Loan
SBA 7(a) loans can be used for refinancing for existing debt, equipment purchases, working capital, and inventory.

SBA 7(a) Benefits
- Can be used for nearly any business expense
- Down payments as low as 10%
- Loan amounts up to $2 million
- Competitive rates
- Low monthly payments with up to 25-year amortizations available
- As an SBA Preferred Lender, we can offer quick approvals and fast closings

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