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The Ideal Funding Solution for Small Businesses

We understand the unique challenges that small businesses face. Just because you’re small in size doesn't mean your needs are small. From equipment, supplies, and capital to expand your operations, you deserve access to the funds you need to create sustainable growth.

We partner with SBA's Preferred Lending Partners to fund your business growth through SBA 7(a) loans. We streamline the application process for you and help you secure the funds you need to grow. It’s another way we champion small businesses, saving you time and giving you access to the most promising funding opportunities.

What is an SBA 7(a) Loan?

SBA 7(a) loans are designed for small businesses and are issued by private lenders and partially backed by the U.S. Small Business Administration. They are the most common type of loan for small businesses due to their attractive extended repayment term sand low interest rates. They also offer great flexibility in using the funds from working capital to purchasing equipment, and much more.

Types of SBA 7(a) Loans

There are several types of SBA 7(a) loans, ranging from $25,000 - $5 million maximum. Processing times vary from 24 hours to 10 business days, depending on the size of the loan and the program applied to.

Standard 7(a) Loan

Up to $5million in funds for working capital, equipment and supplies purchases, and real estate and business expansion.

7(a) Small Loan

Maximum loan amounts up to $350,000 are available through this program, which offers fast decision times and financing for smaller business needs.

Express Loan

Quick turnaround times—within 36 hours—are available with funding up to $500,000.

Export Express Loan

Up to $5 million in funding is available for businesses to use on expanding export capabilities.

Export Working Capital Loan

For corporations looking to fund working capital to support export sales, up to $5 million is available.

International Trade Loan

Businesses can secure up to $5 million in funding to expand export efforts or modernize operations to contend with foreign competition.

CAP Lines of Credit

Amounts up to $5 million are available for businesses to finance short-term and seasonal working capital needs.

An Attractive Choice for Your Small Business

SBA loans have benefits that make them an attractive choice over traditional loans.

Low Interest Rates

SBA loans offer some of the lowest interest rates on the market.

Capital Availability

SBA 7(a) loans are easier to access than traditional loan programs.

Extended Repayment Terms

Terms ranging from 7 to 25 years make SBA 7(a) loans an attractive option for small businesses.

Low Down Payments

SBA loans typically have smaller down payments, ranging from 10-20% down or less for smaller loans.

Flexibility of Use

SBA 7(a) loans offer flexibility in the use of funds.

Access to SBA Resources

After receiving an SBA loan, you gain access to the organization's vast network of resources, including mentorship and training opportunities.

FAQs

How do I qualify for an SBA 7a loan?

• Must be a for-profit company operating in the United States. Certain business categories, including real estate investment firms, nonprofits, and establishments engaged in betting are ineligible.
• Must be a small business as the SBA defines it.
• You must have put your own money and time into your business as a business owner.
• Before using an SBA loan, you had to look into other funding options.
• You must be able to prove your requirement for a loan and outline the way you'll use the money for your company.
• Cannot be in arrears on any current debts from the government
• Capable of providing security for loans greater than $25,000
• A personal guarantee is required from business owners who own 20% or more of the company.

How hard is it to get an SBA 7a loan?                    

Even with the guarantee, it might be hard to qualify for SBA 7(a) loans. Lenders are nevertheless encouraged to deal with small firms by the guarantee. For 7(a)loan applications, lenders often need a high yearly revenue, two or more years in operation, and an excellent personal credit score of 680+.

How does SBA 7a work?              

These SBA loans are made by certified lenders, most often banks and credit unions, and are partially insured by the SBA. Depending on the type of 7(a) loan, the size of the loan, and the borrower's eligibility, the partial guarantee may range from 50% to 90% of the loan amount.

Lending to a small business is now less hazardous for banks and credit unions, which might not have done so without the government guarantee. The SBA guarantee ensures that the lender will receive 50% to 90% of the loan back in the event that the business defaults.

How long do you have to pay back a 7a loan?                                    

Depending on how you use the money, this type of loan has variable repayment terms. Generally speaking, the maturity periods for real estate, machinery, and working capital are 25 years, ten years, and up to seven years, respectively.                        

Can I use an SBA loan for personal use?                    

Your company is an extension of you. Your identity and labor goes into it. You cannot, however, utilize SBA loan to settle personal bills like a credit card, mortgage, or other loans.  

What disqualifies you from getting an SBA loan?

Your loan application may not be approved for a variety of reasons, but a few of the more frequent ones are as follows:
• You have a bad credit history or a low total personal or commercial credit score.
• You don't have enough assets or collateral to secure the loan.
• You lack the free money or cash flow necessary to make loan repayments.
• You already owe too much money in debt.
• You haven't shown that you need the money financially enough.
• You work in a sector that the SBA won't finance.
• No one would classify you as a "small business."