Small Business SBA & BFA Loans

SBA 7(a) vs. SBA 504 — Finding the Right Fit for Your Business

St. Mary’s Bank offers SBA 7(a) and SBA 504 guaranteed loans to support businesses at various stages of growth. As the SBA Program Credit Union of the Year for 2025, we provide Small Business Administration–backed financing designed to meet a range of needs. Our commercial lending team will work with you to understand your goals, timeline, and planned use of funds, so we can recommend the loan program that best fits your situation.

SBA 7(a) loans are often the best option when flexibility matters most. These loans can be used for many day‑to‑day and growth‑related business expenses, all under one financing solution.

Common uses include:

Working capital
Purchasing or acquiring a business
Equipment, furniture, and fixtures
Leasehold improvements
Refinancing eligible business debt

Because of their versatility, SBA 7(a) loans are well‑suited for businesses that need room to adapt as opportunities arise.

SBA 504 loans are designed for businesses making significant, long‑term investments—such as buying or improving a facility or purchasing large equipment that will support operations for years to come.

Can be used for:

Purchasing land or buildings
New construction, renovations, or expansions
Long‑term equipment
Leasehold improvements
Refinancing qualifying real estate debt
Certain project‑related soft costs, such as appraisals, permits, and professional fees

This program helps businesses grow while maintaining predictable payments and preserving working capital.

In simple terms:

SBA 7(a) loans are best when flexibility is the priority
SBA 504 loans are best for long‑term investments in property or equipment

Both programs are designed to support small business growth. The right choice depends on how you plan to use the funds, your timeline, and your long‑term strategy.

At St. Mary’s Bank, we take the time to understand your business and help determine which SBA loan program best supports your next step. Reach out to a Commercial Loan Specialist today for a free consultation to review the right option for your business.

Experienced in Securing Agency Guarantees

SBA and BFA loans can open doors—but the process benefits from experienced guidance. At St. Mary’s Bank, our Commercial Banking team partners directly with the Small Business Administration and the Business Finance Authority of New Hampshire to help move your loan forward smoothly.

From application review to loan funding, we help connect the pieces and keep the process moving, providing support and clarity every step of the way.

US Small Business Administration
- Access competitive rates and terms, plus free business counseling and education.
Business Financing Authority of New Hampshire
- Access low-cost loans, bond financing, lines of credit, and more! Available to eligible New Hampshire businesses.
St. Mary's Bank SBA 504 Loan Guide
- Learn more about our SBA 504 loans, including qualifications, and loan process

Randy Sivigny

SVP, Director of Commercial Banking

With over 15 years of commercial banking experience, Randy is dedicated to facilitating business growth.

Steven Scheiner

VP, Commercial Relationship Manager

With over 30 years of banking experience, members see him as a powerful resource, and he loves being their “go-to” person.

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David Silva

VP, Commercial Relationship Manager

David has 16 years of experience providing business owners with the resources and guidance needed to be successful.

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Steven Hinchee

VP, Commercial Relationship Manager

With over 33 years of experience in the banking industry and community volunteerism, Steve is well equipped to support the New Hampshire business community.

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