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Small Business Administration Loans

Thinking of starting your own business?

BCB Community Bank is a participant in the SBA (Small Business Administration) Preferred Lender Program. We can facilitate the underwriting and approval of your financing requests for both long-term and short-term needs through these government-backed programs.

7(a) SBA Loan Guarantee Program – The 7(a) Loan Guarantee Program is designed to help small entrepreneurs start or expand their businesses. These loans are funded by banks and the federal government guarantees up to 85% of the loan (in certain instances as high as 90%) through the U.S. Small Business Administration, depending on the loan amount.

A 7(a) loan is a general business loan that can be used for starting up or expanding a business, purchasing equipment or acquiring a building. (One of the most popular uses of SBA loans is to finance the purchase of a building that will be occupied by the borrower.) A 7(a) loan can also be used to purchase a business and, in some instances, refinance debt as long the business can demonstrate it will realize a material savings in principal and interest payments. In addition, newer businesses or those that are undercapitalized may qualify for SBA financing because the guarantee provides the bank with protection should the business fail. 

A major benefit of an SBA loan is that it requires a lower down payment than conventional loans and the repayment terms can be for a longer term than that of a conventional loan, for as long as 25 years. This eliminates the need to refinance the loan every five years, as many mortgages with balloon payment require, and preserves working capital.

Loans can be made to businesses and individuals with past credit issues as long as there are no current delinquencies or defaults. A business can qualify for a loan at a lower debt service coverage ratio than the bank’s standard credit policy requires for conventional loans. This, coupled with longer repayment terms, may enable a small business to borrow more money than it would otherwise qualify for on a conventional basis. 

BCB Community Bank is ready to help your business get the financing you need. To learn how, we can help, please contact BCB at 201-823-0700 ex 2053.

"Approved to offer SBA loan products under SBA's Preferred Lender program"


Ira Gottlieb
Specialty: SBA Bayonne, NJ
Office Phone: 201-823-0700 x2094


Stephen Molfetta
Specialty: SBA Manhattan, NY
Cell Phone: 631-848-5941
Office Phone: 201-823-0700 x4309


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