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Small Business SBA Loans

SBA loans for businesses  the requirements of eligibility are based on specific aspects of the business and its principals. As such, the key factors of eligibility are based on what the business does to receive its income, the character of its ownership and where the business operates.

SBA 7(a) Loan Program Eligibility

SBA generally does not specify what businesses are eligible. Rather, the agency outlines what businesses are not eligible.  However, there are some universally applicable requirements. To be eligible for assistance, businesses must:

  • Operate for profit
  • Be small, as defined by SBA
  • Be engaged in, or propose to do business in, the United States or its possessions
  • Have reasonable invested equity
  • Use alternative financial resources, including personal assets, before seeking financial assistance
  • Be able to demonstrate a need for the loan proceeds
  • Use the funds for a sound business purpose
  • Not be delinquent on any existing debt obligations to the U.S. government

SBA Express Loans ( UP  to $350,000)

An Express SBA loan offers term loans and line of credit options. May be used for financing business acquisition, equipment, debt refinance, working capital, inventory and tenant improvements.

Core Small Business Loan Benefits

  • Reduced SBA eligibility documentation requirements
  • Business assets may be used as collateral; real estate may be necessary
  • Accelerated processing with conventional loan documentation
  • Longer SBA loan terms are available
  • Easy application process with fast decisions
  • Term Loan
  • Business Expansion, renovation, new construction, purchase land or buildings, purchase equipment,
  • Lease-hold improvements, working capital, refinance debt
  • Inventory or starting a business
  • Seasonal line of credit