Phone Number 404-297-2200Phone Number 404-297-2200

The 7(a) Loan Program is one of the most common SBA loan programs. It includes financial help for businesses with special requirements.

Highlights include:

Borrower Benefits

  • Long repayment terms, reducing monthly payments
  • Frees up cash flow to expand your business
  • Low down payment of as little as 10% on multi-purpose real estate acquisitions and as little as 15% on single-purpose real estate acquisitions
  • Financing available for most industry types including: hotel/motels, gas station/convenience stores, restaurants, assisted living facilities, and day cares

Loan Amounts

  • Up to $5,000,000

Use of Proceeds

  • Real estate – purchase, construction, renovation or refinance of commercial real estate. Majority of space must be owner-occupied
  • Business acquisition – business, franchise or professional practice
  • Machinery & equipment – purchase or refinance
  • Start-ups including many franchised businesses

Loan Terms

  • Real estate – up to 90% financing, up to 25 years. Prepayment penalty for initial 3 years. None after the end of year 3
  • Business acquisition – up to 80% financing, up to 10 years. No prepayment penalty
  • Refinance – up to 100% financing, up to 25 years. Prepayment applicable for initial 3 years on terms greater than 15 years
  • Rates are based on a spread over the Prime Lending Rate. Rates vary depending on the specific strengths of the transaction
  • SBA Guarantee Fee is paid directly to U.S. Small Business Administration. Amount varies based on loan/guarantee amount. Other customary fees also apply
  • All 7a loans are fully amortized and are assumable
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