Small Business Banking
CrossFirst Bank was founded by experienced bankers and entrepreneurs to meet the financial needs of business owners, professionals and their families. While finding the right banking solutions for your company is of the utmost importance to us, the way we do business together is equally important to all of us at CrossFirst. Trust is at the center of our organization’s core values of Character, Competence, Commitment and Connection. All long-term sustainable success will be achieved through establishing and growing trust in our relationships. That means a commitment to making and keeping extraordinary promises to you, our customer.
CrossFirst Bank is proud to be an SBA Preferred Lender. Under the Small Business Administration (SBA) Preferred Lenders Program, CrossFirst Bank has been delegated authority by the SBA to approve loans, resulting in faster service to local small business owners in need of capital. The most experienced lenders are designated as PLP Lenders and given the authority to process, close, service, and liquidate most SBA guaranteed loans without prior SBA review. With this lending authority, SBA has authorized CrossFirst Bank to make the credit decision without prior SBA review on many types of loans – reducing the typical SBA loan approval timeline by as much as 30 to 45 days. The process is especially streamlined for loans under $5 million because decisions can be made without multiple levels of approvals.
Small Business Loans
We offer a wide variety of small business loans and lines of credit including Small Business Administration (SBA) Loans guaranteed by the Federal government. SBA loans offer lower down payment requirements and more flexible terms to help a small business get off the ground and/or grow.
SBA loans provide financing for almost any for-profit business purpose, including real estate purchase, business acquisition or startup, equipment, inventory and working capital. Maximum amounts range from $5 million up to $11.25 million, depending on the type of SBA loan.
- 7(a) Loans
Eligible borrowers may use these loans for starting, acquiring and expanding a small business. This type of loan is the most basic and the most used within SBA’s business loan programs.
- 504 Loans
Provides growing businesses with long-term, fixed-rate financing for major fixed assets, such as land and buildings.
Helps small businesses meet their short-term and cyclical working-capital needs through the SBA umbrella program called CAPLines.
- SBA Veterans Advantage Loans
Provides financial assistance for veterans and members of the military community who want to establish or expand small businesses.
Small Business Deposit Solutions
CrossFirst’s Business Bankers understand that, no matter what the size, your company has unique financial needs and your time is valuable. Let us help find the banking service that is right for your business. Click here to find out more.
Small Business Lending Q&As
CrossFirst Bank’s Small Business division is committed to anticipating and meeting the ever-changing needs of small business owners and entrepreneurs. Team members are some of the most experienced in the area and truly desire to partner with the clients they serve. Our Small Business Bankers and Small Business Administration (SBA) Lenders dedicate their attention exclusively to the small business segment ensuring that the most current and effective small business financial solutions are available to you. Let us walk you through your financing options.
CrossFirst Bank offers a wide variety of small business loans including Small Business Administration (SBA) Loans guaranteed by the Federal government.
What is the SBA?
The SBA stands for Small Business Administration. It’s a program designed as a partnership with lending institutions. The SBA provides a guaranty on the bank loan up to a certain percentage that protects the borrower and the bank.
Why would I need SBA?
- Offers longer term repayment periods resulting in lower monthly payments.
- Makes available terms of up to 25 years for real estate, and up to 10 years for equipment and working capital.
- Assists if the loan is under collateralized or if no collateral is available.
- Provides fully amortizing loans with no balloons, allowing the borrower the peace of mind to not have to worry about negotiating a renewal.
Does my business qualify?
- More than 90% of businesses would fit within the parameters to be eligible for SBA financing.
- Qualifications are determined by the tangible net worth of your business and the industry in which you compete.
What size loans are offered through the SBA?
Our loans can range from $50,000 to $11,250,000.
What types of loans qualify through the SBA program?
- Acquisition or expansion of business
- Real estate purchase
- Debt consolidation
- Machinery and equipment acquisition
- Leasehold improvements
- Working capital