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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 ...
Loan amount. Up to $500,000. Maximum SBA guarantee. 50%. SBA approval time. 36 hours. Interest rates. ... Frequently asked questions about SBA loans. Do SBA loans have to be paid back? Yes.
SBA loan type. Description. Average loan amount in 2023. Maximum loan amount. Standard 7(a) Can be used for nearly all purposes, including working capital, payroll, expansion and equipment ...
The maximum loan amount for a 504 loan is typically $5 million, but it can be up to $5.5 million. Loan funds can be used for fixed assets that promote job creation and business growth.
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 ...
Types of SBA loans include: SBA 7(a) loans, SBA 504 loans and SBA microloans. 2. Factor rates. Some loans might charge interest as a factor rate, which uses a decimal amount multiplied by the ...
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