Looking for the best lending options for small businesses can be a challenge, particularly if this is your first time taking out a commercial loan. You have unique needs that a larger corporation may not have and small business owners around the country are starting to notice that working with a bigger bank doesn’t always […]
Small Business Loans in VT and NH
Small Business Administration (SBA) Loans
Union Bank has been a Small Business Administration “Preferred Lender” since 1987, allowing us to provide superior turn-around times on SBA-guaranteed loans. All of our lending decisions are made locally by our community-based loan officers.
Recently, Union Bank was recognized by the Small Business Administration for increased lending to small businesses. Specifically, we received awards for highest volume growth and 3rd highest loan volume. These awards reflect our success in providing financing to small businesses in the communities we serve.
What is an SBA small business loan?
SBA loan programs are designed to help you start, purchase or expand a small business. Loans can be used for real estate occupied by the business, equipment purchases, and working capital. These government-guaranteed loans help small business owners succeed through smaller down payments, no minimum loan amount, and flexible repayment periods. Because the terms of the loan are tailored to meet the needs of the business, we recommend that you contact one of our commercial lending staff to discuss the terms and rates specifically available for your business needs.
Stay local. Go far.
When you choose Union Bank for your SBA loan, you benefit from our local insight and faster decision-making, which allows us to support your business in ways conventional commercial loans cannot. As a true local partner, we are invested in your success.
Our experienced Commercial Lending Team provides attentive personal service to guide borrowers through every step of the SBA loan application process, from figuring out the right amount to apply for, to gathering the required supporting documents. After your loan application is complete you can still count on Union Bank’s commercial banking staff to be there for you as you navigate the exciting and complex experience of owning your own business.
We also participate in federal loan initiatives. Visit the SBA website to learn more.
Economic Development Loans
Union Bank staff work directly with many local economic development organizations to assist borrowers with business planning, budgeting, credit enhancements, and subordinate financing, from partners like:
- United States Department of Agriculture (USDA) Rural Development
- Vermont Economic Development Authority
- Granite State Economic Development Corporation
- Grafton County Economic Development Council
- Northern Communities Investment Corporation
- Small Business Administration
- County and town revolving-loan funds
When you choose a local bank for your small business financing needs, you benefit from the flexibility, regional expertise, and local decision making that bigger banks don’t often provide. Union Bank is proud to support local industry and community reinvestment.
For your convenience we have 2 loan centers in Newport and South Burlington, VT, in addition to our 18 local branch offices elsewhere in Vermont and New Hampshire. In any location you visit you’ll find a friendly and experienced team ready to help you identify the right financial solutions for your business.
Stop by or contact a member of our Commercial Lending Team to learn more about SBA loans and other bank loans for small businesses.
Download our printable application. The PDF below contains instructions and “field fillable” boxes you can type directly into. Once completed, simply print out, sign and deliver (or mail) to any of our locations or Commercial Lending Team members.