Designed To Help Small Businesses Start, Grow, & Succeed

The 7(a) loan program provides financing for a wide range of business needs.

green and white vintage truck

What is an SBA 7(a) Loan?

An SBA 7(a) loan is a government-backed loan that provides funding to small businesses through participating lenders. The SBA guarantees a portion of the loan, reducing the risk for lenders and making it easier for small businesses to qualify for financing. The maximum loan amount for an SBA 7(a) loan is $5 million, and the funds can be used for various business purposes.

Whether you’re looking to expand your operations, purchase equipment, or improve your cash flow, an SBA 7(a) loan could be the ideal solution.

Unlock the Power of SBA 7(a) Loans

Flexible financing solutions tailored for small businesses

red and white leather padded chair

Key Features and Benefits

  • Flexible Use of Funds: SBA 7(a) loans can be used for a variety of purposes, including working capital, equipment, real estate, inventory, and refinancing.
  • Longer Repayment Terms: Enjoy longer repayment terms with terms up to 10 years for working capital and up to 25 years for real estate.
  • Competitive Interest Rates: Benefit from lower interest rates compared to conventional loans.
  • Low Down Payment: Lower down payment requirements, making it easier to access the capital you need.
  • No Collateral Requirement: For loans up to $25,000, no collateral is required. For loans above $25,000, flexible options compared to traditional loans.

Transform Your Business with SBA 7(a) Loans

Reliable financing for every stage of your business journey

Types Of SBA 7(a) Loans

SBA 7(a) Standard Loan

The SBA 7(a) Standard Loan is the most popular and versatile SBA loan program. It provides small businesses with up to $5 million in funding, backed by a 75% to 85% SBA guarantee. This loan can be used for various purposes, including working capital, equipment purchase, real estate, and debt refinancing. The typical approval time is five to ten days, making it a reliable option for businesses seeking substantial funding with flexible use.

SBA 7(a) Small Loan

Designed for businesses that need smaller amounts of capital, the SBA 7(a) Small Loan offers up to $350,000 in funding. This loan type generally has quicker approval times compared to the standard 7(a) loan, making it ideal for businesses with immediate, smaller-scale financial needs. Whether you’re looking to purchase equipment, expand your operations, or cover other business expenses, this loan provides a practical solution.

SBA 7(a) Express Loan

For businesses that require fast access to funding, the SBA 7(a) Express Loan is a perfect choice. Offering up to $500,000, this loan features a turnaround time of just three business days. The SBA guarantees 50% of the loan amount, which helps expedite the approval process. This quick funding can be crucial for businesses needing immediate working capital or facing unexpected expenses.

Eligibility Requirements

To qualify for an SBA 7(a) loan, your business must meet the following eligibility criteria:

  • Operate for Profit: Your business must be a for-profit entity operating in the United States.
  • Meet Size Standards: Your business must meet the SBA’s size standards, which vary by industry. Generally, this means having fewer than 500 employees for most manufacturing and mining industries, and less than $7.5 million in average annual receipts for most non-manufacturing industries.
  • Good Credit History: Both the business and the business owner(s) must have a good credit history.
  • Demonstrate Ability to Repay: Your business must demonstrate the ability to repay the loan through projected cash flow.
  • No Delinquent Debt: Your business must be current on all existing debt obligations.

Application Process

Applying for an SBA 7(a) loan involves several steps. Here’s a brief overview of the process:

  1. Prepare Your Documentation: Gather necessary documents, including your business plan, financial statements, tax returns, and personal financial statements.
  2. Choose a Lender: Work with a participating lender that offers SBA 7(a) loans. SBA Everyday can help you find the right lender and guide you through the process.
  3. Complete the Application: Fill out the SBA loan application and provide all required documentation. Your lender will review your application and submit it to the SBA for approval.
  4. Loan Approval: The SBA will review your application and, if approved, will guarantee a portion of the loan. The lender will then finalize the loan terms and disburse the funds.

How SBA Everyday Can Help

At SBA Everyday, we specialize in helping small businesses navigate the SBA loan application process. Our experienced advisors are here to provide personalized guidance and support every step of the way. Here’s how we can help you secure an SBA 7(a) loan:

  • Expert Consultation: We offer expert advice to help you understand your financing options and determine if an SBA 7(a) loan is the right choice for your business.
  • Comprehensive Application Support: Our team will assist you in preparing your loan application, ensuring all required documentation is complete and accurate.
  • Lender Match: We connect you with participating lenders that best suit your business’s needs and goals.
  • Ongoing Assistance: From application submission to loan disbursement, we provide ongoing support to help you successfully secure your SBA 7(a) loan.

Get Started Today

Ready to take the next step in growing your business? Contact SBA Everyday to learn more about SBA 7(a) loans and how we can help you secure the funding you need. Our dedicated team is here to make the loan process as smooth and straightforward as possible.

Reach out to SBA Everyday today for personalized assistance with your SBA 7(a) loan application.