North Avenue Capital Expands Small Business Lending Nationwide with SBA 7(a) Loans
North Avenue Capital, known for rural financing, is expanding nationwide with SBA 7(a) loans from $500,000 to $5 million. This move, effective July 1, 2024, broadens their reach beyond rural America. NAC's expertise in government-guaranteed lending, developed through nearly $1 billion in USDA OneRD loans, now extends to urban and suburban areas.
Partnering with parent company Veritex Community Bank, an SBA-preferred lender with over $750 million in SBA loans, NAC aims to surpass $1 billion in SBA lending. The SBA 7(a) program will support various business needs, including working capital, equipment purchases, and real estate acquisitions, with flexible terms and competitive rates.
North Avenue Capital, conosciuta per il finanziamento rurale, sta espandendo la propria attività a livello nazionale con prestiti SBA 7(a) che vanno da 500.000 a 5 milioni di dollari. Questa iniziativa, che entrerà in vigore il 1° luglio 2024, amplia il loro raggio d'azione oltre l'America rurale. L'esperienza di NAC nel prestito garantito dal governo, sviluppata attraverso quasi 1 miliardo di dollari in prestiti USDA OneRD, ora si estende anche alle aree urbane e suburbane.
Collaborando con la società madre Veritex Community Bank, un prestatore preferito SBA con oltre 750 milioni di dollari in prestiti SBA, NAC mira a superare 1 miliardo di dollari in prestiti SBA. Il programma SBA 7(a) supporterà diverse esigenze aziendali, tra cui capitale circolante, acquisti di attrezzature e acquisizioni immobiliari, con termini flessibili e tariffe competitive.
North Avenue Capital, conocida por su financiamiento rural, está expandiendo su alcance a nivel nacional con préstamos SBA 7(a) que van de 500,000 a 5 millones de dólares. Este movimiento, que entrará en vigor el 1 de julio de 2024, amplía su alcance más allá de la América rural. La experiencia de NAC en préstamos garantizados por el gobierno, desarrollada a través de casi 1 mil millones de dólares en préstamos USDA OneRD, ahora se extiende a áreas urbanas y suburbanas.
Al asociarse con la empresa matriz Veritex Community Bank, un prestamista preferido por SBA con más de 750 millones de dólares en préstamos SBA, NAC tiene como objetivo superar los 1 mil millones de dólares en préstamos SBA. El programa SBA 7(a) apoyará diversas necesidades comerciales, incluido capital de trabajo, compras de equipo y adquisiciones inmobiliarias, con términos flexibles y tasas competitivas.
North Avenue Capital는 농촌 금융으로 알려져 있으며, 2024년 7월 1일부터 50만 달러에서 500만 달러까지의 SBA 7(a) 대출을 통해 전국적으로 확장하고 있습니다. 이 조치는 농촌 미국을 넘어 그들의 범위를 넓힙니다. NAC는 USDA OneRD 대출에서 거의 10억 달러를 통해 개발된 정부 보장 대출 경험을 바탕으로 도시 및 교외 지역으로의 확장을 시작합니다.
모회사인 Veritex Community Bank와 협력하여, 7억 5천만 달러 이상의 SBA 대출을 보유한 SBA 선호 대출자인 NAC는 SBA 대출에서 10억 달러를 초과하는 것을 목표로 하고 있습니다. SBA 7(a) 프로그램은 운영 자본, 장비 구매 및 부동산 인수를 포함한 다양한 사업 필요를 지원하며, 유연한 조건과 경쟁력 있는 금리를 제공합니다.
North Avenue Capital, connu pour le financement rural, s'étend à l'échelle nationale avec des prêts SBA 7(a) allant de 500 000 à 5 millions de dollars. Cette initiative, qui prendra effet le 1er juillet 2024, élargit leur portée au-delà de l'Amérique rurale. L'expertise de NAC dans le prêt garanti par le gouvernement, développée grâce à près d'un milliard de dollars en prêts USDA OneRD, s'étend désormais aux zones urbaines et suburbaines.
En partenariat avec la société mère Veritex Community Bank, un prêteur privilégié de la SBA avec plus de 750 millions de dollars en prêts SBA, NAC vise à dépasser le milliard de dollars en prêts SBA. Le programme SBA 7(a) soutiendra divers besoins commerciaux, y compris le fonds de roulement, l'achat d'équipements et les acquisitions immobilières, avec des conditions flexibles et des taux compétitifs.
North Avenue Capital, bekannt für ländliche Finanzierungen, expandiert landesweit mit SBA 7(a) Krediten von 500.000 bis 5 Millionen Dollar. Diese Maßnahme, die am 1. Juli 2024 in Kraft tritt, erweitert ihren Einfluss über das ländliche Amerika hinaus. Die Expertise von NAC in der staatlich garantierten Kreditvergabe, die durch fast 1 Milliarde Dollar an USDA OneRD-Krediten entwickelt wurde, erstreckt sich nun auch auf städtische und vorstädtische Gebiete.
In Partnerschaft mit der Muttergesellschaft Veritex Community Bank, einem SBA-bevorzugten Kreditgeber mit über 750 Millionen Dollar an SBA-Darlehen, zielt NAC darauf ab, die Marke von 1 Milliarde Dollar an SBA-Krediten zu überschreiten. Das SBA 7(a) Programm wird verschiedene Geschäftsanliegen unterstützen, darunter Betriebskapital, Anschaffungen von Geräten und Immobilienkäufe, mit flexiblen Bedingungen und wettbewerbsfähigen Zinssätzen.
- Expansion of lending services to include nationwide SBA 7(a) loans
- Partnership with Veritex Community Bank, an experienced SBA-preferred lender
- Potential to surpass $1 billion in SBA lending
- Flexible loan terms and competitive rates for various business needs
- None.
Insights
North Avenue Capital's expansion into SBA 7(a) loans marks a significant strategic shift, potentially doubling their addressable market. By leveraging Veritex Community Bank's expertise, they're poised for rapid growth. The
This move signals a major market expansion for North Avenue Capital. By branching out from rural to nationwide lending, they're tapping into a much larger pool of potential clients. The SBA 7(a) program is highly sought after, with
This expansion is a boon for small businesses nationwide. NAC's entry into the SBA 7(a) market increases access to capital, particularly beneficial for businesses in the
PONTE VEDRA, Fla., Sept. 09, 2024 (GLOBE NEWSWIRE) -- North Avenue Capital, a leader in innovative financing solutions for rural America, is making a significant addition to its lending products thereby extending its reach into urban and suburban communities. As of July 1, 2024, North Avenue Capital is now offering SBA 7(a) loans nationwide, doubling down on its government-guaranteed lending expertise while broadening its service to small businesses beyond rural America.
For the past decade, North Avenue Capital has partnered with the USDA to support rural communities with strategic financial support in the form of USDA OneRD loans. After closing nearly
North Avenue Capital is excited to launch into the SBA 7(a) lending space thanks to its partnership with its parent company Veritex Community Bank. While the SBA program may be new to NAC, it’s not to Veritex. Veritex is an SBA-preferred lender and has closed more than three-quarters of a billion dollars in SBA loans as of 2024. Together, Veritex and NAC are poised to surpass
“Expanding our services to include SBA lending is a natural progression of our overall mission of providing capital to empower American business growth,” said Joseph Rowell, CEO of North Avenue Capital. “Our experience with rural lending has uniquely positioned us to understand the needs of small businesses, as well as the complexities of government-guaranteed lending. By joining forces with Veritex Community Bank, we are able to support the dreams of entrepreneurs nationwide, regardless of their location, helping them achieve their goals and contribute to their local economies.”
Veritex EVP Jonathan Schneider said, “North Avenue Capital’s new SBA 7(a) offering is a natural extension of its adept government-guaranteed lending expertise and a notable advancement toward Veritex’s vision of becoming a nationally recognized government-guaranteed lending leader."
The SBA 7(a) loan program is designed to assist small businesses with a variety of financial needs, including working capital, equipment purchases, and real estate acquisitions. North Avenue Capital’s SBA 7(a) loans will be available to businesses across America with no geographic constraint, providing flexible terms, competitive rates, and certainty of execution.
Key Highlights of North Avenue Capital’s SBA 7(a) Loans:
- Loan Parameters:
$500,000 t o$5 million - Purpose: Business Acquisitions, Partner Buyouts, Real Estate, Equipment, and more
- Nationwide Availability: Serving small businesses across all states
- Commitment: The same dedication to excellence and personalized service that has defined NAC’s rural lending for a decade.
North Avenue Capital remains steadfast in its commitment to fostering economic growth and supporting small businesses. Powered by Veritex Bank’s SBA 7(a) experience, the company is positioned to make a significant impact on a broader scale.
For more information about North Avenue Capital’s SBA 7(a) loan program, please visit https://northavenue.com/sba-7a-loans/.
About North Avenue Capital:
North Avenue Capital is a direct nationwide commercial lender specializing in government-guaranteed loans. NAC is a national leader in the USDA OneRD lending space and launched its SBA 7(a) program powered by Veritex Community Bank in 2024. Through tailored financing solutions, NAC provides capital to empower American enterprises, helping businesses grow and communities thrive.
About Veritex Holdings, Inc.
Headquartered in Dallas, Texas, Veritex is a bank holding company that conducts banking activities through its wholly owned subsidiary, Veritex Community Bank, with locations throughout the Dallas-Fort Worth metroplex and in the Houston metropolitan area. Veritex Community Bank is a Texas state-chartered bank regulated by the Texas Department of Banking, Consumer Financial Protection Bureau, and the Federal Reserve System. For more information, visit www.veritexbank.com.
FAQ
What is the loan range for North Avenue Capital's new SBA 7(a) loans?
When did North Avenue Capital start offering SBA 7(a) loans nationwide?
How much has North Avenue Capital closed in small business loans for rural communities?
What types of financial needs can North Avenue Capital's SBA 7(a) loans address?
