SBA 7(a)
We close SBA 7(a) deals that major banks can’t, working with a range of credit scores and financing challenges nationwide.
​
With Non-Bank SBA Preferred lending partners, we're able to create financing solutions through the SBA 7(a) program to help business owners grow and expand their companies. We think outside of the traditional lending box to close more deals.
SBA 7(a) USE OF FUNDS
Business Operating Loans
SBA loans can be used to help finance the everyday operations of a company as well as plans for future growth, such as:
Business acquisition and expansion
Machinery and equipment purchase
Partner and/or shareholder buy-out
Refinance existing business debt
Franchise acquisition
Working capital
Startup professional services business
Commercial Real Estate Loans
Business owners may want to consider SBA loans for other purposes, including:
Owner Occupied or Utilized >51 %* of the SF
Purchase fixed assets (land, buildings, equipment)
Refinance existing mortgage-secured debt
Ground-up construction and renovation
Leasehold acquisition and improvements
* Includes retail, manufacturing, industrial, warehouse, professional offices (including office condominiums), hotels, healthcare facilities, car dealerships, auto repair shops, car washes, self-storage, parking garages, special use, multi-use.
SBA 7(a) HIGHLIGHTS
Loans from $350,000 to $7,000,000*
Loan terms up to 25 years
Low borrower equity required
Wide use of loan proceeds
Limited/No prepayment penalties
Closing costs may be financed
* Loans between $5 million and $7 million financed with Pari Passu loans. Loans under $350,000 financed through our iBusiness technology platform. These loans are made pursuant to the SBA 7(a) Small Balance and Express programs. Loans over $7,000,000 may be funded pursuant to our USDA B&I license. In either case, loan terms vary by loan program, borrower eligibility, loan amount, and other factors.
SBA-RESTRICTED
INDUSTRIES
If your industry isn't on the ineligible list, you may qualify for an SBA 7(a) loan. We suggest you follow the application process, gather your documentation, and show us how you'll repay the loan.
Consumer and Marketing Cooperatives
Dealers of Rare Coins and Stamps
Gambling
Government-Owned Organizations
Federally-Illegal Firms*
Lending Firms & Loan Packaging Firms
Multi-Sales Distribution
Nonprofits
Pyramid Schemes or MLM Schemes
Real Estate Investment Firms
Religious Institutions
Speculation-Based Businesses
*Includes: Cannabis or cannabis-derived products
ELIGIBLE SBA INDUSTRIES
Here's a list of eligible types of businesses. Note that this isn't an exclusive list. As long as your business isn't included in the RESTRICTED industries list above, you're probably in the clear.
Assisted Living Facilities
Motels, Hotels, and B&Bs
Restaurants
Bars and Clubs
Retail Stores
Business Services
Office-Based Companies
Auto Repair Shops
Car Dealerships
Car Wash Companies
Preschools and Daycares
Self-Storage Companies
Gas Stations & Convenience Stores
Franchises
Healthcare Practices
Manufacturing and Production
E-commerce and Online Businesses
Professional Services
DOCUMENTATION
While not all-inclusive, this will get us going.
Application Completed
3 Years Business Tax Returns
3 Years Personal Tax Returns
Year to Date Profit & Loss Statement
Business Debt Schedule
Rent Roll*
Personal Financial Statement**
Construction Documentation (If applicable)
*Required only if there is real estate involved, and for any non owner-occupied units
** Required for any member of the borrowing entity with 20% or greater ownership
