SBA Loan Types

There are many different SBA loan programs. These are the most popular programs for small business:

SBA 7(a) $50,000 to $5,000,000:

The most popular SBA loan program used for any of the following:

  • Start a new business
  • Continue operating a current business
  • Purchase land or equipment
  • Construction costs
  • Purchase an existing business
  • Refinance existing debt
  • Purchase equipment, machinery, furniture etc.
  • Fund short and long term working capital needs
  • Helps businesses that export abroad or to rural areas
  • Marketing, renovation, inventory
  • Fees can be financed

Terms:

  • Real Estate, up to 25 years
  • Business, acquisition, equipment, up to 10 years
  • Working Capital: 5 to 7 years
  • Down payment minimum 10 percent

SBA Sub 350 up to $350,000:

Same as SBA 7(a) above for non real estate transactions, less collateral needed

SBA 504 $2,000,000 to $20,000,000

Long term fixed rates to acquire property for expansion

  • Commercial real estate
  • Construction
  • Renovation
  • Fixed competitive rates
  • Terms up to 25 years
  • Down payment minimum 10 percent
  • Fees can be financed