TruCommunity Blog

Over the past few years, small business owners have seen just how important it is to have the right partners in their corner. One of the best ways we support you is through SBA (Small Business Administration) loan programs designed to meet your unique business needs and goals – whether that is working toward growth or a brand-new beginning.

As a Preferred SBA lender, TruBank offers two of the most flexible and widely used SBA loan options: the SBA 7(a) and SBA 504 programs. These loans can help finance everything from equipment and real estate to working capital and business acquisitions.

Is an SBA Loan Right for Your Business?

If you're launching a new business, here are some common signs that an SBA 7(a) loan might be a good fit:

• You don’t have enough collateral or equity for conventional financing
• You’re starting from scratch and need funding to build momentum
• You want to retain full ownership of your business (no outside investors)
• You're not interested in borrowing from friends or family

If any of that sounds familiar, here are a few first steps you can take:

1. Start with a conversation. Talk to a TruBank business banker who understands SBA lending. We’ll walk you through the options and help you find the right fit for your goals.
2. Add up your startup costs. Think about expenses like rent, renovations, equipment, utilities, permits, and marketing to better understand how much funding you need.
3. Build your plan. We’ll need to see your business plan, financial projections, and any other documents that show how you’ll use the funds and repay the loan.

Already in Business? SBA Loans Can Help You Grow

SBA 7(a) and 504 loans can also be great options for established businesses looking to:

• Buy the building you operate in—or move to a new location
• Expand operations to keep up with growth
• Acquire another business
• Purchase new equipment
• Navigate seasonal slowdowns or manage cash flow

Here's how to take the next step:

1. Let’s talk. Reach out to a TruBank SBA lending expert and tell us what you’re planning. We’ll work with you to evaluate your needs and walk through all your options.
2. Make your case. Come prepared with a clear description of your project, how much funding you need, and what the loan will help you accomplish.
3. Gather your documents. Personal and business financial statements, tax returns, and forecasts help us understand your financial picture and find the best financing path forward.

No matter where you are in your business journey, TruBank is here to help you move forward with confidence. Let’s talk about how an SBA loan can work for you.

Contact any of our lenders today and take the next step with TruBank—your local partner for business growth!