SBA Loans

Small Biz. Big Dreams.

As an SBA Preferred Lender, we can offer you faster processing than other institutions on an SBA loan that’s fit for your small business. Our team of lending experts are here to find and get your business government assistance when you need it.

SBA Preferred Lender

Primis is an SBA Preferred Member, which means a lot of things, but here are the most important benefits to you:

Faster loan approval — perfect for those who need quick access to funds.
In-house decision making without the need for additional wait times.
Work with a team of business lending experts that prioritize speed and efficiency.
Flexible funding options to better fit your business’ needs.

Introducing: The Velocity Loan

As an SBA Preferred Lender, we’re able to act fast without waiting for SBA approval. What does this mean to you? Fast funding available for loans of $500 million or less with our new Velocity Loan.

Terms:

Lines of Credit or Working Capital Loans up to $500M
Favorable interest rates
Up to 10-year term lengths
No origination fees
Limited closing costs
Quick Funding — secure funds in as little as 14 days

Interested? Let’s Talk.

Talk to a Lending Expert

Our team of business experts are ready to help you secure fast funding with our Velocity Loan or any other of our SBA lending options.

SBA loans generally have lower down payments and extended terms, and there are many types:

Section 7(a) loans have terms ranging from 12 months to 25 years. Startup businesses are eligible. Owners must inject at least 20% of the total project costs. Purposes include: purchase of real estate, construction, renovation or lease-hold improvements, equipment, furniture, fixtures, inventory and in some cases working capital and debt refinance. Primis charges no points on these loans.
504 Program is an economic development program designed to create new jobs or retain existing ones. Benefits include low down payments (as low as 10%); soft costs and loan fees are included in the loan amount; the second trust carries a fixed rate of interest for the entire loan term. New construction is also eligible.

Contract CAPLine Loans are revolving lines of credit with terms of one to five years. The line of credit is secured by an assignable contract and may be drawn on during the term of contract for direct materials and direct labor costs required to complete the contract. Proceeds of the contract are applied to the draws and the remainder is deposited into the customer’s account. The guarantee fee on a Contract CAPLine can be as low as .25% for a one-year line of credit.

Export Working Capital Loan is designed to help small businesses export their products to the international market. Loan proceeds may be used for materials and labor to fill foreign orders.
VSBFA includes Virginia Capital Access Program (VCAP) and Virginia Economic Development Loan Fund. VSBFA also has loan programs for Child Day Care, Environmental Compliance Assistance, Defense Conversion, Industrial Development Bonds and Umbrella Bonds. Please contact one of our loan officers for more information.
B&I loan programs offered through the USDA provide a financing vehicle for rural development. The primary purpose is to create and maintain employment and improve the rural economic climate. Any valid business purpose is eligible for this loan; however, there are geographical and economic criteria. Major benefit is longer loan terms (up to 30 years on real estate and 15 years on machinery/equipment to improve the cash flow of the business).