The SBA 7(a) is for all owner-occupied businesses.  The proceeds can be used for acquisitions, refinancing existing loans, including debt consolidation, rehab, construction, working capital, and equipment purchases.

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Program Details:

Loan Amount: $100,000 to $5,000,000

Rates: Prime+ 2.75%

Terms: 10 to 25 years

Loan to Value: 75% to 90%

Prepayment: For real estate 5/3/1 – no prepayment on loans with < 15-year term

Recourse or Non-Recourse: Recourse

 

Program Benefits :

• The SBA 7 (a) program offers businesses long repayment terms, which reduces their monthly payments. With lower monthly payments, a company can free up cash flow to expand their business or improve their sales.

• The SBA 7 (a) program offers a lower down payment requirement so businesses can retain their cash flow to meet other needs of the business or to have additional post-closing liquidity.

• The SBA 7 (a) program does not require collateral on loans of $350,000 or less. This gives businesses who may not have sufficient collateral to cover the loan the opportunity to secure the financing they need for their business to grow.