Comerica Can Make It Easy for You to Get the SBA Loan You Need

It’s a fact. More small businesses fail because they don’t have adequate capitalization than for any other reason. But there is help available: Small Business Administration loans. The SBA permits the approval of financing for small businesses that might not otherwise qualify through normal lending channels.

Note: To meet basic SBA qualifications, you must have an owner-operated, for-profit business with an organizational structure such as a sole proprietorship, corporation, professional partnership, or limited liability company.

The Truth About SBA Loans

Some businesses have a number of misconceptions that prevent them from benefiting from an SBA loan. But Comerica separates the facts from the myths:

  • Many established businesses use SBA loans as a source of working capital to expand existing operations, buy real estate, or add to their inventory. In certain cases, the loan can even be used for debt refinancing. And, of course, SBA loans are available for the purchase of a business.
  • SBA loans aren’t just for small amounts. At Comerica, we regularly help small businesses with loans up to $21 million.
  • SBA loans offer more favorable terms than traditional commercial loans; your monthly payments tend to be lower, and there are no balloon payments required.

Comerica’s Preferred Lender Status Can Help You Get Your SBA Loan Fast

As a National SBA Preferred Lender for the Small Business Administration, Comerica is recognized for our proficiency in the preparation and execution of an SBA loan package.

Through our experience, size, and our National SBA Preferred Lender status, Comerica is positioned to help you get the loan you need faster, and with fewer complications. Because we’re a National SBA Preferred Lender, most of the loan packages submitted by our officers are preapproved for the SBA, meaning that the SBA has authorized Comerica’s officers to evaluate most SBA loan applications and recommend them without going through the formal SBA approval process.

Let Comerica Help Your Business Grow

Take the next step, with a no-cost, no-risk analysis from Comerica. We would be happy to sit down with you to review the loan process and help determine the financing option that is best for your business — all with no obligation on your part.

You’ll also find that as one of the Leading Bank for Business*, we offer a full range of financial products and services designed exclusively to benefit small businesses — along with guidance from experienced small business financial specialists.

Our mission is to help you and your business be successful. To make things work in providing the right solutions — from SBA loans to business checking and savings accounts, and more. All important reasons why Comerica is the bank your business can start with, grow with and stay with.