SBA 7A Loans

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 SBA 7(a) Loans

SBA 7(a) loans are the most common type of SBA loan. These loans go up to $5,000,000 and can be used for working capital, to refinance debt, or to buy a business, real estate, or equipment. Two popular loans, the SBA Express Loan and the SBA Advantage Loan, are part of the 7a loan program.

SBA 7a loans are right for most businesses looking to finance their working capital needs. These loans are what most people are referring to when they ask about SBA loans and can be used for pretty much any business purpose. SBA loans are popular because of their long repayment terms and low interest rates, which make 7a loans one of the most affordable working capital solutions.

SBA 7a Loans at a Glance

Loan Amounts Up to $5 million
Repayment Terms Up to 10 years for working capital loans
Up to 25 years for commercial real estate loans
Minimum Requirements 680+ Credit score
10-20% Down payment
Some collateral (loan doesn’t have to be fully collateralized)
Use of Loan Proceeds Working capital
Equipment purchases
Refinance debt
Buy a business or franchise
Buy commercial real estate
Leasehold improvements