CORONAVIRUS (COVID 19) UPDATES
SBA CARES Act Paycheck Protection Program (PPP)
EagleBank participated in the SBA CARES Act PPP program, processing over 1,330 loans, securing over $491 million for our customers, and saving over 41,000 jobs (data as of 5/10/2020). As of June 24, 2020 we closed the application process for the program. For more detailed information, please visit our dedicated PPP page here: www.eaglebankcorp.com/SBA-paycheck-protection-program.
Bank-to-Business Lending* (B2B)
We understand that obtaining that critical loan for your business can make all the difference. We also know that time is of the essence. In these circumstances, we can provide expedited loan approval to meet the capital needs of your business.
We offer the following types of credit:
- Purchase, renovation, and refinance of owner-occupied or investor commercial real estate, to include office, retail and industrial properties up to $750,000
- Purchase of new machinery and equipment or other business assets up to $350,000
- Permanent working capital for start-ups or business expansion
- Working Capital Lines of Credit up to $350,000
Small Business Administration (SBA) Loans**
We are an active SBA Preferred Lender, offering a full range of commercial banking products to complement SBA lending solutions. Our experienced SBA Relationship Managers guide you through the eligibility requirements to determine if an SBA loan is right for your business.
Benefits of an SBA Loan:
- Manageable down payments which mean less out-of-pocket funds now
- Longer re-payment terms help improve cash flow by reducing your monthly payment
- No balloon notes, so you have the peace of mind you need to concentrate on your business
SBA Loans answer most business needs:
- Business acquisitions, including franchises and medical practices
- Owner-occupied commercial real estate purchases and renovations
- Leasehold improvements and buildouts
- Equipment, furniture, and fixtures
- Exporting goods and services
- Working capital
We are proud of our excellent past performance and top-ranking status within the SBA's DC Region.
We hope that you will give us a chance to share our expertise to help your business grow and succeed.
**This is not a commitment to lend. A minimum borrower contribution, or down payment, is required; amounts vary by project but are usually 10 percent. Loan terms can vary according to the purpose of the loan. See the SBA National Resource guide at https://www.sba.gov/sites/default/files/2019-02/national-resource-guide.pdf for details.
Other Borrowing Services