SBA 7(a) Loan Program
The 7(a) Loan Program is the most common of all SBA loans. You can use this loan to start, expand, or even purchase a business; pay rent or buy inventory; pay contract employees; and take care of expenses. Here are the details:
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About SBA 7(a) Loans
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Loan amount:
| Up to $5 million
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Terms:
| Up to 25 years
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Pricing: | Fixed and variable rate options
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Structure:
| SBA guarantees up to 85% for loans of $150,000 or less;
75% guaranty for loans greater than $150,000 (up to $3.75 million maximum guaranty) |
| Additional info:
| Fully amortized loans with no balloon payments
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