7(a) Program

What is an SBA 7(a) loan?

It's a loan that gives small- to medium-sized businesses, established entrepreneurs, and professionals access to other resources for additional capital. The only difference between this type of financing and conventional financing is the government guarantee - which can be up to 75% of the loan amount.

How much can I borrow?

Under this program the maximum loan size is $2 million.

What terms and rates are available?

The terms range from seven to 25 years, depending on how you intend to use the funds.  Rates are variable and usually don’t exceed 2.75% over low New York Prime for loans over $50,000. The SBA has temporarily eliminated the borrower's SBA Guarantee fee.

What can an SBA loan be used for?

• Working Capital
• Inventory
• Business Acquisitions
• Equipment
• Real Estate
• Debt Refinancing

Who is eligible for an SBA 7(a) loan?

There are size limitations (maximums) to qualify for an SBA loan, based on your business's NAICS code. Please contact a Government Lending Specialist to discuss your particular business.

Getting Started

To speak with our Government Lending specialists, contact us or call (800) 722-5945.