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Loan type. Maximum loan amount. Maximum guarantee. SBA turnaround time. Purpose. 7(a) loan. $5 million. 75%. 5 to 10 business days. Working capital, equipment, supplies purchases, real estate ...
Lender. Average small business loan amount. Bank loans (large national bank) $593,000* Bank loans (small regional bank) $146,000* SBA 7(a) loans. $479,685
Amounts accurate for fiscal year 2023, ending September 30, 2023. Compared to SBA 7(a) loans, SBA 504 loans aren’t as widely approved, but small businesses tend to receive more in financing.Over ...
State. Total SBA amount funded in state. Top 5 SBA lenders. Alaska. $73.51 million. Alaska Growth Capital BIDCO, Inc. ($15.3 million) Northrim Bank ($11.32 million)
SBA loan statistics. According to the SBA, at the end of 2023 fiscal year:. $27.5 billion in SBA 7(a) loans was approved. Almost 70 percent of 7(a) loans were for amounts under $350,000
Loan amounts. Interest rates. Loan terms. Maximum SBA guarantee. SBA Express loan. $500,000. 11.50% to 16.50%. Up to 10 years for term loans or lines of credit; 25 years for property purchases or ...
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