SBA 7(a) Business Loans
The SBA 7(a) loan program is eligible to borrowers for starting, acquiring and expanding a small business. This type of loan is the most basic and the most used within SBA's business loan programs. Borrowers must apply through a participating lender institution. Find your SBA Lender on CNF Exchange.
The U.S. Small Business Administration (SBA) offers a number of programs designed to help small businesses and entrepreneurs acquire start-up and continuing funding for their business operations. These initiatives provide financial assistance through loans, grants and venture capital investments; special programs are also available to fund exports to other countries. The most common types of loans available from the SBA are 7(a) business loans; these versatile lending arrangements can be used for almost any business purpose and provide much-needed cash on hand for small business owners. SBA 7(a) business loans are available for real estate purchases, construction projects, debt refinancing, renovations and improvements, equipment purchases and to provide working capital for small business operations. Both start-ups and existing businesses are eligible for loans for SBA 7(a) business purposes. SBA does not make these loans directly. Instead, the agency guarantees payment for a portion of the SBA 7(a) business loan made by a participating lending institution. This added security serves as motivation for these lenders to provide loans for SBA 7(a) business purposes to small business owners who might otherwise not be eligible for such lending arrangements. The maturity for SBA 7(a) business loans typically ranges between 10 years and 25 years and depends upon the type of financing required by the borrower.
CNF Exchange offers a number of services designed to help small businesses navigate the application requirements for SBA 7(a) business loans. Borrowers can locate SBA lenders easily and conveniently by using our innovative online system. By working with our trained professionals, small business owners and managers can also compile the necessary paperwork and documentation to present their case for funding to this government agency. Once the funding request has been completed, lenders affiliated with the SBA 7(a) program will contact the small business owner to discuss terms and present options for acquiring the business loan arrangements companies need to remain competitive and to succeed in the modern small business environment.
If you're interested in obtaining an SBA 504 commercial loan instead, please contact CNF Exchange for more information or reference the respective page.