SBA 7(a) loans
The SBA 7(a) loan program offers competitive financing with longer terms and lower monthly payments to fuel your business growth.
Loan program details
- Amount: $100,000 – $5 million
- Interest rate: Competitive interest rates determined after we evaluate your application
- Time to funding: 60 to 90 days
- Loan term: Up to 10 years for general loan uses (such as working capital or equipment purchase) or up to 25 years for real estate purchase
What can I use an SBA 7(a) loan for?
You can use an SBA 7(a) loan for almost any business purpose, including:
- Working capital: Fund day-to-day operational expenses, inventory purchases, or short-term financial obligations.
- Equipment purchase: Buy new machinery, vehicles, or technology for business operations.
- Real estate acquisition: Purchase land or buildings for business use.
- Business expansion: Finance the cost of opening new locations or expanding existing facilities.
- Debt refinance: Consolidate and refinance existing business debts at more favorable terms.
- Business acquisition: Purchase an existing business or buy out a partner.
- Startup costs: Cover the initial expenses of launching a new business venture.
Will I qualify?
Assess your business’s financial health by considering the following. If the answers to most or all of these questions are “yes,” you’re well-prepared for a loan.
- Is your business profitable? If not, do you have projections that show how a loan will help your business grow and become profitable?
- Do you pay yourself a salary? If you do not, does your business generate enough cash and profits to pay you a livable salary?
- Are you current on all personal and business taxes?
- Do you have a reliable track record of repaying business and personal loans as agreed?
How to apply
Learn more about how to get started here.
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