SBA 7(a)
You might have heard SBA loans are the gold standard for small business owners who want to
expand. Funds from these loans can be used in a multitude of ways to help a small business.
SBA Loans, Bank Term Loans, Lines of Credit, and other fast and flexible financing solutions.
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Access to the right loan for right now
See if you pre-qualify, without impacting your credit score
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SBA 7(a) general eligibility
Businesses that qualify for an SBA loan are typically profitable, cash flow positive, and able to show that they can afford to make the monthly loan payments.
SBA Loans
Flexible financing options backed by the Small Business Administration to help your business grow.
What can a small business use funds on?
- General working capital
- Purchasing inventory
- Hiring employees
- Refinancing business debt
Marketing
There are several common ineligible uses of proceeds for this program:
- Start-up financing
- House-flipping or real estate development
- Refinancing personal debt
- Construction or remodeling
- Business acquisition
- Floorplan financing
- Delinquent tax payment
Key requirements for loans from $50,000 to $500,000 include:
- Minimum 2 years in business
- U.S. based business owned by a citizen or
- lawful permanent
- Resident who is at least 21 years old
- FICO of 660 or higher
- GDSCR/BDSCR >1.15x
- Minimum annual revenue requirement of
- $250,000
- No outstanding tax liens
- No bankruptcies or foreclosures in the past
- 3 years
- No recent charge-offs or settlements
- Current on government-related loans
Personalized
SBA 7(a) loans from $50,000 – $500,000 can be used for debt refinancing and working capital.
You get great rates, long repayment
terms, and low monthly payments
with SBA loans. With a typical 10-year
loan term and no prepayment penalty,
the monthly payment on these loans is
extremely competitive. In most cases,
the only collateral required is a
blanket lien on business assets and
a personal guarantee.