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SBA loans: 7(a) and 504
Loans partially guaranteed by the U.S. Small Business Administration and made by participating lenders.
How it works
SBA loans are made by participating lenders and partially guaranteed by the U.S. Small Business Administration. The 7(a) program covers a wide range of business purposes, including working capital, equipment and real estate. The 504 program finances major fixed assets, such as real estate and long-life equipment, through a lender together with a Certified Development Company (CDC).
7(a)General purpose: working capital, equipment, refinancing, real estate
504Major fixed assets: buildings, land, long-life equipment
What lenders look atEligibility under SBA rules, credit, cash flow, and documentation
Worth knowing
- Longer terms than many other products
- More paperwork and a longer process than most alternatives
- Eligibility and terms follow SBA program rules and the lender’s own requirements
Amounts, costs and terms are set by each funding provider and depend on your business. We’ll show you the full cost of any offer before you decide.
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