SBA 7(a) Loan Program
Small Business Financing
Having trouble securing capital to meet your small business needs? The U.S. Small Business Administration 7(a) Loan Program is designed to help small businesses that are creditworthy but cannot qualify for a conventional loan. The SBA works with participating lenders to reduce their risk, increasing the likelihood of your loan’s approval.
Borrowers may use SBA-backed 7(a) loan proceeds for almost any legal business purpose. The loan can be used to purchase and/or improve real estate, equipment and inventory or provide working capital. Proceeds may also be used to refinance business debt, purchase an existing small business or franchise and finance partner buyouts.
Eligibility Criteria
To qualify, your business must:
- Operate for profit within the United States (including U.S. territories and possessions).
- Meet SBA’s small business size standards.
- Demonstrate that it can repay the loan.
Need Help?
If you aren’t sure whether your business is ready or eligible for a loan, contact us today to discuss your funding options.
Loan Overview
Max loan amount: $5 million
Interest rate: Rates may be fixed or variable, generally capped at prime +2.75 percent (for loans less than $50,000, higher rates may apply).
Terms: Loan terms vary according to the purpose of the loan, generally up to 25 years for real estate or 10 years for other fixed assets and working capital.
Loan Approval Process
1. Initial Review
+/- 1 business day
2. Pre-screen
+/- 3 business days
3. Letter of Intent
+/- 1 business days
4. Closing
+/- 30 business days
Recently Closed
As one of the fastest SBA 7(a) lenders in the country, we offer a large variety of loans ranging from complex construction projects with multiple partners to a simple purchase of cargo vans for a local HVAC company. While we specialize in business acquisitions, equipment purchases, and commercial real estate, we also structure loans for startup companies and finance small working capital requests.
– McKinney, TX
– San Antonio, TX
– Austin, TX
Frequently Asked Questions
To see your preliminary SBA 7(a) loan options, you will have to complete a simple form ( SBA Form 413 ) detailing your personal financial statement and provide your tax returns. After you’ve completed the form, we’ll create the optimal loan structure and proceed with submitting the formal loan application.
If you don’t qualify for the SBA 7(a) loan, there are still other options that might be available to you. We’ll provide the list of alternatives after we review your personal and business financials. Real Estate loans are available here.
It’s important to note that these financing options have their own set of requirements and eligibility criteria. You should research each option thoroughly and speak with lenders or financial advisors to determine which option is best for your particular situation.
We work with all credits; however, you will have the best chance for approval if your credit score is 680 or above. Your credit is only pulled once your application has been prescreened and moved into the formal underwriting process.
Lenders are not required to take collateral for loans up to $25,000. For loans in excess of $350,000, the SBA requires that the lender collateralize the loan to the maximum extent possible up to the loan amount. If business fixed assets do not “fully secure” the loan the lender must take available equity in the personal real estate (residential and investment) of the principals as collateral.
The time it takes to get an approval for an SBA 7(a) loan varies depending on the complexity of your loan application. Nonetheless, it typically takes 45 days to close a loan.
Your SBA Lender
Anton Maskadynya – Managing Member
“Having been a small business owner who was denied an SBA 7(a) loan, I am well-aware of the challenges you might face when seeking funding from the SBA. I act with commitment and strongly advocate for my clients’ interests despite any opposition from the SBA. With my experience and your commitment to the process, I am confident that we can successfully secure this loan and help your business reach new heights.”
