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Government-Backed Loans for Small Businesses

SBA Loans

When small businesses need support, they turn to the U.S. Small Business Association.

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Understanding

SBA Loans

The SBA helps companies get the real estate, equipment, and working capital they need to stay competitive.

If your small business helps create jobs in your local community, your best resource could be the SBA. The SBA offers several types of loans, but the 7a and 504 are the most popular. Of the two, the 7a offers more flexibility.

SBA loans are for for-profit businesses with net annual revenue of $5M or less and a total net worth of $15M at maximum. The SBA has certain restrictions on business types, so be sure to ask your broker for more information. To apply, your broker will connect you with a private lender or a non-profit Certified Development Company to fund your loan. The SBA backs your loan and caps interest rates so your funding is more affordable.

How to Effectively

Apply Funds

The loan you choose will depend on your business needs.

Although both loans can be used for construction, real estate, equipment, refinancing, and remodeling, only the SBA 7a lets you borrow working capital. Choose the 7a if you want to combine a real estate loan with working capital funding. Pick the 504 if you need a larger loan or have multiple partners in your business.

To get an SBA loan, you’ll need to have your company’s financial documents in order, as well as some personal information. You’ll have to show that you’ve invested personally in the business and you’ve exhausted other loan options. This is one of the reasons SBA loans work well for small businesses that don’t have the credit or time in business other lenders may require. Be sure to connect with a reliable broker to find out more.

Funding Options

Real Estate

SBA loans help your small business buy and remodel commercial properties. If you need to upgrade to a larger space or want to incorporate sustainable design in your new location, consider an SBA 7a or 504 loan to make your move more affordable. Get a 10, 20, or 25-year loan with a fixed or variable interest rate.
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Equipment

When you need to bring in new equipment to help your business grow, use an SBA loan to manage your upfront costs. SBA 7a and 504 loans can both be used to cover equipment expenses. Borrow up to $20M with a 10-year maximum term. Fixed and variable rates are available.
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Mixed-Use

Sometimes you need to cover more than just one expense. Purchase and remodel real estate, get equipment and working capital, or combine construction and equipment loans with the SBA 7a. One loan, one rate, one application. Talk to your broker about an SBA 7a loan today.
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Still Have Questions?

We’ve Got The Answers

Q. When is an SBA 7a loan a better fit?
SBA 7a loans can cover mixed-use or working capital expenses, while the 504 loan cannot. Choose this loan if you want to purchase a business with or without real estate.
Q. When is an SBA 504 loan a better fit?
SBA 504 loans can be less expensive than a 7a loan if you’re buying a high-priced property. Fees on 504 loans stay flat, regardless of how much you need to borrow. They also protect outside collateral in case you have trouble repaying the loan.
Q. Do SBA loans require a down payment?
Yes. Both SBA 7a and 504 loans require a 10% minimum down payment. An SBA 7a loan may require more, depending on how you intend to use the loan. Talk to your broker to find out more.
Q. What is a CDC for SBA loans?
To apply for an SBA 504 loan, you’ll need to have your broker connect you with a CDC or Certified Development Company. CDCs are non-profit, local companies that service the 504 loans for small businesses. They operate within their state to promote job creation and enhance local communities.

SBA Loan

Advantages

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  • Single-use or mixed-use loans. 
  • Businesses with low credit scores can qualify. 
  • Interest rates are capped by the SBA. 
  • Fixed and variable-rate loans are available. 

What We Do

Why Clients Choose Us?

Clients choose us for our commitment to delivering personalized financial solutions that align with their business goals. Our team’s dedication to transparency, speed, and exceptional service ensures a seamless experience from application to funding.

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