Both growing and well established businesses can use the SBA 7(a) loan program to meet a variety of business credit needs.  The SBA 7(a) loan program features loan amounts up to $5 million and long-term financing.
The SBA 7(a) loan program can be used to finance commercial real estate, renovations or improvements; business acquisitions, expansions or start-ups; franchise purchase; equipment or inventory; working capital; or refinancing existing debt (certain restrictions apply).
Benefits
  • No SBA guaranty fee – on loans less than $125,000
  • Broad eligibility – loan proceeds may be used for a wide variety of business purposes 
  • SBA guarantee program – assists businesses in qualifying for loans they want
  • More flexible – often with longer repayment terms and lower down payments than conventional bank loans
  • No prepayment fees – for loans with repayment terms less than 15 years