Home > SBA 7(a) Loans
Small Business Administration (SBA) loans are bank-funded government guaranteed loans. The SBA program allows banks to extend long terms for loans that otherwise would not be made. Unlike conventional commercial loans that typically have a three to five year call provision, SBA extends loans up to 25 years. There are two primary types of SBA loans: the SBA 7(a) loan and the SBA 504 loan.

SBA 7(a) Loan Program. Provides SBA 7(a) loans to eligible borrowers for starting, acquiring and expanding a small business. This type of loan is the most basic and the most used within SBA's business loan programs. Borrowers must apply through a participating lender institution.

Applicants.

  • Individual
  • Partnership
  • Corporation
  • Cooperative
  • Indian Tribe
  • Public Body
Use of Proceeds.
  • Real Estate
  • Construction
  • Renovation
  • Equipment
  • Inventory
  • Working Capital
  • Debt Refinance

Term of Loans.

  • Working Capital & Inventory - 7 years
  • Machinery & Equipment - 15 years (or useful life)
  • Real Estate - 25 years.
A typical loan would have a blended use of proceeds and the term would be calculated on a weighted average basis.

If you are unsure whether or not your anticipated use of funds is allowed, check with your SBA approved lender. For more information about the SBA 7(a) loan program, click here.

Contact us today to see how an SBA 7(a) loan could be the right tool to finance your growing business.


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