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SBA 7(a) Loan by Tom Markel


The 7(a) program is an umbrella covering a wide variety of loans. This loan can be used for a variety of purposes:
 
  1. Machinery and equipment purchases
  2. Real estate purchases
  3. Business purchase
  4. Inventory
  5. Debt Refinance
  6. Construction
  7. Working capital
  8. Franchise purchase
  9. All of these loans can be made separately or lumped together as one loan.
 
The small 7(a) program has a guarantee of 85% on loans $150,000 or less. The large 7(a) program has a guarantee of 75% on loans more than $150,000 up to a maximum of $2million. There is no down payment required except for the real estate portion. There is a 30% equity injection requirement for start-up businesses.
 
All loans are fully amortized with long term financing, no balloons and no prepayment fees except for 3 years on the 7(a) real estate. There are fees paid to the government on the guaranty portion and ALL interest amounts are negotiated with the lender subject to SBA regulations.
 
SBA loans are based on several factors, which are usually the same factors involved in granting any other type of business loan. If you're applying for small business loans, you'll need to provide a thoughtful and thorough business plan. You may also be asked to provide management profiles and proof of credibility as a legitimate enterprise.
 
Many people think SBA loans are only for businesses in trouble. Often, SBA loans are granted during the gap time between when a company billed out for goods or services and when they receive payment. A company may be experiencing growth on paper during this time, but funds may not be available for additional investments. Your best resource for SBA loans is iBank.com. 


Most Recent Postings

Type Amount Location Date Posted
SBA 7(a) Loan $5000 Montebello,
CA
April 23, 2014
12:04 PM
SBA 7(a) Loan $60000 Kearney,
MO
April 23, 2014
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SBA 7(a) Loan $500000 Palmdale,
CA
April 23, 2014
11:58 AM
SBA 7(a) Loan $10000 Mccomb,
MS
April 23, 2014
11:57 AM
SBA 7(a) Loan $5000 memphis,,
TN
April 23, 2014
11:40 AM
SBA 7(a) Loan $10000 Omaha ,
NE
April 23, 2014
11:31 AM
SBA 7(a) Loan $38000 TUCSON,
AZ
April 23, 2014
11:27 AM
SBA 7(a) Loan $10000 palm desert,
CA
April 23, 2014
11:25 AM
SBA 7(a) Loan $50000 Oregon City,
OR
April 23, 2014
11:11 AM
SBA 7(a) Loan $20000 Allenville ,
PA
April 23, 2014
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