IMPORTANT UPDATE!

2011 will bring some exciting updates to our website.  As you know, Suffolk First Bank completed its merger with Xenith Bank in December 2009.  Continue reading...

Small Business Resources

SBA Loans

With an SBA loan, your business can take advantage of longer repayment terms and higher borrowing limits.  Qualifying criteria are generally more flexible than conventional loans.  If you have a growing business, SBA financing can help you to:

• Purchase or renovate real estate
• Purchase or upgrade real estate to operate your business, construct a business facility or make imrovements to an owner-occupied property.
• Purchase fixed assets.  Includes assets such as heavy machinery or specialized equipment.
• Borrow working capital
• Manage day-to-day cash flow and purchases

SBA loans provide many advantages:

• SBA loans are typically easier to qualify for than conventional business loans
• Longer repayment terms provide lower monthly payments
• You can borrow up to 90% of the collateral's value
• Any applicable fees may be financed directly into the loan

• http://www.fdic.gov/
• http://www.rich.frb.org/
• http://www.occ.gov/
• http://www.bloomberg.com/
• http://www.nasdaq.com/
• http://www.sba.gov/services/financialassistance/sbaloantopics/snapshot/index.html