Designed to help your business grow through much needed capital, with manageable down payment, and low interest rates.
What can an SBA 7(a) Loan be used for?Having the highest flexibility option amongst the SBA loan options, our SBA 7(a) can be used for a majority of things to advance your business. Thanks to its variety of uses, SBA 7(a) loans are the best option for owners of small to midsized businesses looking to fund the growth of their company.
- Business Acquisitions
- Working Capital
- Business Debt Refinancing
- Franchise Purchases
- Start Up Projects
- Partner Buyouts
- Business Expansion
- Business Debt
- Ground-Up Construction
- Commercial Real Estate
- Equipment Purchases
Take the Next Step in Growing Your Business!
SBA 7(a) Frequently Asked Questions
- For-profit, non-publicly traded businesses
- Tangible business net worth (including affiliates) not to exceed $15 million
- Proceeds MUST directly benefit the small business
- Ownership must generally be comprised of 51% U.S. citizens or Legal Permanent Residents (exceptions apply)
- Average net income of the business not to exceed $5 million over the previous two years
- Non-profits (except sheltered workshops)
- Passive holders of real estate and/or personal property
- Lending institutions (mortgage brokers and correspondent lenders are eligible)
- Life insurance companies (franchised agents are eligible)
- Consumer and marketing cooperatives (producer cooperatives are eligible)
- Government owned entities (excluding Native American tribes)
- Businesses that are:
- Located in a foreign country
- Selling products or services through a pyramid plan
- Restricting patronage
- Engaging in loan packaging
- That have previously defaulted on a Federal loan
- Engaging in political or lobbying activities
- Those transactions that do not directly benefit a subject business (investment-only transactions)
- Refinancing owner debt or providing funds to a person or owner
- Buying into a business where the seller remains a part owner (business acquisitions must result in a 100% change in ownership
- “Cash out” transactions
- Longer-term financing than conventional loans (up to 25 years)
- Prepayment penalty is minimal or nonexistent
- Loan payments cannot be accelerated as a result of an economic downturn as long as you make your payments on time
- Fully-amortizing loans with no balloons, removing the need to seek reapproval (or new financing) every few years
- Smaller down payment than conventional financing, which allows you to conserve working capital
- Proceeds to cover all of your business needs
- No financial covenants, other than providing annual tax returns and financial statements
Compared to other loan types
|Loan types||Max Amounts||Rates||Speed|
|Merchant Cash Advance||$7.5k – $1m||Starting at 1.09%||1-2 business days|
|SBA Loan||$50k – $10m||Starting at 5%||3-5 weeks|
|Business Term Loan||$10k – $5m||Starting at 5%||1-3 business days|
|Business Line of Credit||$10k – $250k||Starting at 8%||1-3 business days|
|Receivables/Invoice Factoring||$50k – $15m||Starting at 5.8%||1-2 weeks|
|Equipment Financing||Up to $5m per piece||Starting at 5%||3-10 business days|
|Revenue Based Business Loans||$10K – $5m||Starting at 9%||1-3 business days|
What Documents Will I Need To Apply For An SBA 504 Loan?
Ready to take the next step and apply for an SBA 504 Business Loan?
How To Apply For An SBA 504 Loan With Biscayne Capital Funding
Use our simple online application to submit a request for business funding. If you need any help along the way, just give us a call, chat or email.
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