SBA 7(a) & 504 Loans

Do you run a small business that has gotten turned down for traditional financing? SBA loans might be your ideal solution. Talk to us about your business needs today. Let us help you choose which SBA loan is right for you.

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F.A.Q.'s
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What are SBA Loans?

The U.S Small Business Administration Loan is a financing scheme designed to support small businesses. Unlike large companies and corporations, small businesses are not often provided with the financing they need to run. This stunts their growth and, as such, affects local and national economic health. To solve this problem, the SBA incentivizes private lenders to give small businesses access to loans. By standing as a guarantor, lenders are encouraged to offer secure financing when they might otherwise refuse.

There are different types of SBA loans, but the most popular types are the 7(a) and 504 loans. The SBA 7(a) loan can be used to fund real estate investments, construction projects, equipment upgrades, and working capital. The SBA 504 loan can be used for the same purposes, too, with the exception of working capital. To qualify for either loan, your business must be a for-profit in the United States, your business’s net worth has to be less than $15M, and your net annual income must not exceed $5M. To learn more about the regulations guiding this financing option, contact us. We will guide you through the process and help you gather the necessary documents for a successful application.

Real Estate and Construction

7(a) and 504 loans can be used to cover the cost of purchasing real estate and handling construction projects. Get the funds you need to acquire a piece of land, construct a building, expand existing property, and make renovations.

Equipment

Break the high upfront costs of equipment into smaller payments with a 7(a) or 504 loan. Talk to us today; let us get you the equipment you need to stay on top of your business.

Working Capital

Do you need to hire new personnel, move inventory, or update computer software? SBA 7(a) loans can help you handle the expenses. Contact us today and let us show you how it’s done.

Advantages of SBA Loans

 

 

  • Secure easy loans without competition from big businesses.
  • Get financing with low down payment.
  • Avoid balloon payments at the end of your loan term.
  • Free up working capital to reinvest in your business growth.
  • Enjoy SBA-regulated rates.

Frequently Asked Questions

When is an SBA Loan not a good fit?

SBA loans are not for non-profits or businesses engaged in passive or speculative activities like gambling and clubbing. Also, if you have outstanding loans on another federal financing scheme like student loans, you are ineligible for an SBA loan. If you fall into any of these categories, we can find another financing solution for you.

Can I apply for a loan directly with the SBA?

No, The SBA only serves as guarantor to a loan. SBA loans are not provided by the SBA, and as such, you can only apply through financial institutions and private lenders. It is vital to work with experienced professionals that will connect you with the right SBA loan to meet your business goals. Leverage our network. Let us connect you with a qualified CDC or other private lenders with the perfect finance solution for your needs.

Can I borrow more than $5M?

While the standard limit for an SBA loan is $5M, you can borrow more than that if the intended use is solid. Tell us how much you need to borrow, and we will find a loan to cover it.

Do I need a down payment?

Yes, you need a down payment to secure an SBA loan. This is usually around 10% of the loan, depending on the lender. Let us know what your budget is, and we will help you find a matching lender.

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