SBA LOANS
Start or expand your business with loans guaranteed by the Small Business Administration.
SBA Loans
What is an SBA Loan?
A Small Business Administration Loan (“SBA Loan”) is a loan program administered by the Small Business Administration and is partially guaranteed by the government. This program works with other financial institutions to help give small businesses access to working capital that otherwise might be unavailable to them.
While SBA loans are typically more difficult to qualify for, they offer longer terms and lower interest rates. SBA loans can be a great long-term solution for businesses that are looking to expand, purchase equipment, invest in new technology, or simply need extra working capital.
SBA Loan amounts typically range from $500 to 5.5 million dollars upon approval. Because an SBA Loan is partially guaranteed by the government, it helps reduce the lender’s risks allowing for lower rates and longer terms.
Personalized solutions tailored to your unique needs.
Loans for borrowers
7(a) loans
SBA's primary program for providing long-term financing for a variety of purposes. 7(a) loans are delivered by SBA 7(a) lenders.
7(a) loans can be used for:
- Acquiring, refinancing, or improving real estate and buildings
- Short- and long-term working capital
- Refinancing current business debt
- Purchasing and installation of machinery and equipment, including AI-related expenses
- Purchasing furniture, fixtures, and supplies
- Changes of ownership (complete or partial)
- Multiple purpose loans, including any of the above
The maximum loan amount for a 7(a) loan is $5 million.
How can a 7(a) loan help your business?
Microloans
Smaller-size loans of up to $50,000 provided through SBA funding intermediaries.
The microloan program provides loans up to $50,000 to help small businesses and certain not-for-profit childcare centers start up and expand. The average microloan is about $13,000.
Microloans can be used for a variety of purposes that help small businesses expand. Use them when you need less than $50,000 to rebuild, re-open, repair, enhance, or improve your small business.
Examples include:
- Working capital
- Inventory
- Supplies
- Furniture
- Fixtures
- Machinery
- Equipment