Which loan is best for your business?

SBA 7(a)

This loan program can be used to help finance the everyday operations of a company as well as plans for future growth, such as:

  • Business acquisition and expansion
  • Machinery, equipment, and real estate purchase
  • Refinance debt for an existing business
  • Franchise acquisition
  • Working capital
  • Startup business funding

SBA 7(a) Highlights

  • Loans from $250,000 to $7,000,000*
  • Loan terms up to 25 years
  • Wide use of loan proceeds
  • No prepayment penalties for loans under 15 years
  • Closing costs can be financed

*Loans between $5 million and $7 million financed with Pari Passu loans.
Loan terms vary by loan program, borrower eligibility, loan amount, and other factors.

SBA 504

While the eligibility requirements for an SBA 504 loan are nearly the same as the SBA 7(a) loan program, the approved uses of the loan are different. They fall into three main categories: buying commercial real estate, financing improvements within that real estate, and purchasing large equipment.

  • Commercial real estate acquisition
  • Real estate improvements
  • Purchase large equipment
  • Debt consolidation

SBA 504 Highlights

  • Loans from $500,000 to $15,000,000
  • Low down payment, typically only 10%
  • Fixed or floating rates available