SBA PROGRAMS-THE 7(A) LOAN

• The 7(a) loan program is SBA’s primary program for providing financial assistance to small businesses. • Offers reasonable rates and terms.

• Use the loan to purchase real estate, equipment, working capital or inventory for your small business. • Loan proceeds may also be used to refinance business debt or purchase a small business. • Max loan amount: $5 million.

• Interest rate: Generally prime + a reasonable rate capped at 2.75%.

• Terms: • Loan term varies according to the purpose of the loan, generally up to 25 years for real estate • 10 years for other fixed assets and working capital.

• Guarantee: 50 to 90%.