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SBA Express Loans Glossary of Terms
Last updated on Nov 25, 2022
2 min read

What Is an SBA 7(a) Loan?

An SBA 7(a) loan is the loan program guaranteed by the Small Business Administration for loans of up to $5,000,000 for any small busness.

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In this article:
  1. Defining the SBA 7(a) Loan Program
  2. ADDITIONAL QUESTIONS? GET PERSONALIZED ASSISTANCE FROM AN SBA EXPRESS LOANS SPECIALIST
  3. fill out the form below for fast, personalized assistance:
  4. Get Financing

Defining the SBA 7(a) Loan Program

SBA 7(a) is a federal government guarantee of a small business loan. Although the loan itself comes from a private lender, owners who qualify for SBA 7(a) loans have a significant portion backed by the government, making it much easier for businesses with less access to capital or problems with credit to receive financing.

Loans of up to $5 million qualify under SBA 7(a), with the SBA providing a guarantee of up to $3.75 million, or 75%. For loans worth less than $150,000, the government will back up to 85% of the debt. To qualify under this program, borrowers must meet SBA standards of being a small business, not have defaulted on previous government loans, and demonstrate the ability to repay the loan.

While there is a prepayment penalty on loans that mature beyond 15 years, there's no prepayment penalty for shorter-term loans. SBA 7(a) doesn't have a balloon payment, and provides improved cash flow for the business. SBA 7(a)-backed loans can be used for various business purposes, including renovations, capital purchase, seasonal lines of credit, or refinancing of existing debt.

ADDITIONAL QUESTIONS? GET PERSONALIZED ASSISTANCE FROM AN SBA EXPRESS LOANS SPECIALIST

fill out the form below for fast, personalized assistance:

In this article:
  1. Defining the SBA 7(a) Loan Program
  2. ADDITIONAL QUESTIONS? GET PERSONALIZED ASSISTANCE FROM AN SBA EXPRESS LOANS SPECIALIST
  3. fill out the form below for fast, personalized assistance:
  4. Get Financing
Tags
  • SBA 7a
  • SBA
  • Small Business Administration
  • amortized loan
  • loan

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SBA Express Loans is a Janover company. Please visit some of our family of sites at: Multifamily Loans, Multifamily Today, Commercial Real Estate Loans, SBA7a Loans, CMBS Loans, Apartment Loans, HUD Loans, HUD 221d4 Loan, HUD 232 Loan, HUD 223f Loan, HUD 223a7 Loan, SBA Express Loans, SBA 504 Loans, and OpportunityZones Help.

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