SBA Loan Programs:

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SBA 7(a) Loans:

Benefits and Uses:

  • Working Capital
  • Machinery and equipment
  • Furniture and fixtures and leasehold improvements
  • Land and building (including purchase, renovation and new construction)
  • Inventory
  • Starting a new business
  • Debt refinancing/consolidation (under special conditions)

SBA Express Loans:

Benefits and Uses:

  • May be used for revolving line of credit (up to 7 years maturity)
  • Term loan with same use as 7(a) loans
  • May qualify for use to refinance existing business debt
  • Quicker turnaround than the Preferred Lender Program (PLP) or Regular 7(a) programs
  • Maximum Loan Amount $350,000.

SBA 504 Loans:

Benefits and Uses:

  • Up to $5,000,000 in funding for a typical project
  • As little as 10% of the project cost funded by borrower
  • 10-20 year fixed loan terms available on SBA debenture

Click on this link to see detailed information on all the loan programs available through the SBA.

https://www.sba.gov/category/lender-navigation/sba-loan-programs

 

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