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SBA 7(a) Loan Program

The most widely used SBA loan.

SBA 7(a) loans are the most widely used SBA loans. Eligibility requirements and credit criteria are flexible.

Designed for small businesses

  • That operate for profit in the United States, or its possessions/territories
  • Do not exceed $15 million in tangible net worth
  • Do not have an average two full fiscal year net income over $5 million

Use SBA 7(a) loans for

  • Expansion/renovation
  • New construction or for purchase of land or buildings
  • Purchase of equipment, fixtures, lease-hold improvements
  • Working Capital
  • Debt refinance
  • Business acquisition

Terms to fit your needs

  • Borrow up to $5 million.
  • All 7(a) loans are fully amortized with no balloons or call dates.
  • Loans for working capital, machinery, and equipment have a maturity of 5-10 years, up to the useful life of the equipment. Real estate loans have a maturity of up to 25 years.
  • Rates are based on a spread over the Prime Lending Rate. Rates vary depending on the specific strengths of the transaction.
  • A one-time Guarantee Fee of up to 3.75% (based on loan amount) of the guaranteed principal amount only is due to SBA at loan closing. Other customary fees also apply.
     

7(a) Small Loan

7(a) Small Loan is a sub-program of the SBA 7(a) Loan Guaranty Program, offering smaller loan sizes up to $350,000 with faster turnaround, less loan documentation needed, and fewer third party reports required.