SBA 7A Loans
Big advantages for the little guys.
The most basic tool on the SBA workbench is the 7(a) loan. Here’s how it works:
1. What you can use it for. Buy machinery and equipment. Expand your business. Purchase an existing business. Augment working capital. Refinance debt and balloon payments. Start a franchise. Make leasehold improvements. Remodel/renovate. Increase your inventory. Purchase owner-occupied commercial real estate. Start a new business.
2. What they’re looking for. Repayment ability from the cash flow of the business is a primary consideration in the SBA loan decision process but good character, management capability, collateral, and owner's equity contribution are also important considerations. All owners of 20 percent or more are required to personally guarantee SBA loans.
3. How much you can borrow. Loans up to $2,000,000. A borrower can have more than one SBA loan, but the total of all guarantees cannot exceed $1,500,000.
Contact us today to set up a meeting with one of our Brickwell SBA specialists. They’ll meet with you at your office, at your convenience, and take the time to understand your business before walking you through your options. So you get the answers you need instead of the delays you don’t.