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