Cornerstone Community Bank | Chattanooga Banking

Cornerstone Bank is a Preferred SBA Lender which offers loans guaranteed by the U.S. Small Business Administration for partial federal guarantees of business loans to qualified businesses, the largest of which is the 7a loan guaranty program for loans up to $2 million. 

The bank also participates in other versions of this loan guaranty program including the SBA Express with the same eligibility, purpose and maturities as the 7a program.  This program offers expedited SBA approval based on a very streamlined application for loans up to $350,000 in return for a lower guaranty.   

Another guaranty program similar to the Express is the SBA Patriot Express program, designed specifically for existing and planned businesses whose owners are military veterans, active-duty service members, reservists, national guard members, current spouses of veterans, widowed spouses of service members or veterans who died during service or service-connected disability.  Patriot Express loan limits are $500,000. Cornerstone Bank also participates in the SBA 504 program.  These loans are an economic development program for job retention and creation offered through SBA’s Certified Development Companies (CDC) for fixed asset financing only which excludes working capital and debt refinancing.  This program offers low fixed-rate long-term financing on the 504 portion of the financing.  

Through the American Recovery and Reinvestment Act, the SBA has implemented some special incentives to help jumpstart the economy and encourage small business development, including the temporary elimination of loan fees and temporary 90% guarantees to qualified applicants, for certain loan programs.     

For more information on SBA Loans, please contact our SBA Specialist at 423.385.3152.