Why is a Small Business Administration (SBA) loan worth considering for your business needs? The SBA 7A program provides $10 billion of loan guarantees to small businesses each year. 7A loans can be up to $5 million and provide repayment terms of 10-25 years at modest rates. The loan program has flexible credit requirements for borrowers that have challenges obtaining traditional bank financing. SBA loans can be a source of funding for the following purposes:
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- Business purchases or ownership transitions
- Higher loan-to-value commercial real estate acquisitions
- Fund increasing working capital needs for fast growing companies
- Refinancing of higher cost debt
- Purchase a franchise or fund needs of early stage companies
- Provide borrowing needs of companies emerging from a period of financial stress
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The SBA Loan Program Offers
- Minimal cash investment
- Long repayment terms
- Flexible underwriting requirements
- Competitive rates