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SBA  7(a)Loans   

What is a 7(a) loan? This is the best option when real estate is part of a business purchase, but can be used for:

*Short and long-term working capital

*Refinance current business debt

*Package furniture, fixtures, and supplies

The maximum loan amount for a 7(a) loan is $5 million. The underwriting key factors are based on what the business does to receive its income, its credit history, and how the business operates. Most 7(a) term loans are repaid with monthly payments of principal and interest. The SBA can guarantee up to 85% of a loan up to $150,000* 75% of a loan greater than $150,000 3 Acceptable base rates: Prime rate published in a daily national newspaper.  *London Interbank One Month Prime plus 3% * SBA Peg Rate

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