Nationwide SBA Business Lending Available!
SBA 7a and SBA 504
SBA 7(a) loans can be used for a variety of purposes, including:
- Real estate: Acquiring, refinancing, or improving real estate and buildings
- Working capital: Short- and long-term working capital, including startup costs and operating capital
- Debt refinancing: Refinancing current business debt
- Equipment: Purchasing and installing machinery and equipment, including AI-related expenses
- Furniture, fixtures, and supplies: Purchasing furniture, fixtures, and supplies
- Changes of ownership: Complete or partial changes of ownership
- Multiple purpose loans: Any of the above purposes
- Business inventory: Purchasing business inventory
- Acquisitions: Funding business acquisitions
- Leasehold improvements: Financing leasehold improvements, such as machinery, equipment, and rolling stock
- Car washes: Acquiring a self-service or full-service car wash
SBA 7(a) Loan Benefits
- Term loans up to $5 million
- Longer terms than conventional lending
- Lower down payments
- Competitive interest rates
- Flexible repayment terms
SBA 7(a) Loan Repayment Terms
- Real Estate: Up to 25 years
- Equipment: Up to 10 years
- Working capital or inventory: Up to 10 years
An SBA 504 loan can be used for a variety of purposes, including:
- Real Estate: Purchase or construct owner-occupied commercial real estate, such as an office, manufacturing facility, or storefront. You can also use a 504 loan to purchase land and construct a business location.
- Equipment: Purchase long-term machinery and equipment with a remaining useful life of at least 10 years.
- Renovations: Renovate or improve existing facilities, including utilities, streets, or parking lots.
- Debt refinancing: In some circumstances, you can use a 504 loan to refinance existing debt.
- Business ownership change: In some scenarios, you can use a 504 loan to change ownership in your business.
SBA 504 Loan Notes
- Intended for healthy, expanding for-profit businesses seeking long-term financing with a low down payment
- Cannot be used for working capital or to purchase inventory
SBA 504 Loan Terms
- Real Estate: 10, 20, or 25-year terms
- Machinery and Equipment: 10 years, may be eligible for 20 or 25 years depending on the equipment's life
- Leasehold improvements: 10 years
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