What is a SBA 7(a) Loan?
The SBA 7(a) Loan is a government-backed loan designed to help small businesses grow. With competitive rates, long repayment terms, and flexible uses, it’s perfect for working capital, equipment, real estate, or refinancing debt.
Why Choose an SBA 7(a) Loan?
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Competitive Rates:
Enjoy low interest rates. -
Long Repayment Terms:
Up to 25 years for real estate.
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Wide Range of Uses:
From working capital to real estate purchases. -
Lower Down Payments:
Keep more cash on hand for operations. -
Government Guarantee:
Increased likelihood of approval
Are You Eligible for a SBA 7(a) Loan?
Business Size
Your business must meet the SBA’s definition of a small business, which varies by industry but generally includes businesses with fewer than 500 employees.
Operational Business
The loan is available for for-profit businesses operating within the United States. Non-profit organizations are not eligible.
Creditworthy
Applicants must demonstrate the ability to repay the loan. This typically involves providing financial statements, tax returns, and a solid business plan.
Frequently Asked Questions
The SBA 7(a) Loan is the Small Business Administration's primary program for helping small businesses with financing. It offers financial assistance for a variety of purposes, including working capital, equipment purchases, and real estate acquisition.
The maximum loan amount is $5 million.
To be eligible, your business must operate for profit, be small as defined by the SBA, be located in the United States, and have reasonable owner equity to invest. You must also have used other financial resources, including personal assets.
The approval time can vary, but it typically takes anywhere from a few weeks to a few months, depending on the complexity of the loan application and the responsiveness of the borrower.
Funds can be used for working capital, equipment, inventory, real estate acquisition, construction, renovation, and even debt refinancing.
Interest rates can vary and are typically based on the prime rate plus a margin. Rates may be fixed or variable, depending on the lender and the specifics of the loan.
First step is getting in touch with us here at TwoSmith Capital so we can hold your hand every step of the way.
Simple Steps to Secure Your SBA 7(a) Loan
Fill out and submit the Contact Form.
Expert Consultation: Our team reviews your application & consults with you to understand your needs.
Submit Your Application: Complete our quick online form.
Get Funded: Receive your loan and invest in your business.
