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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 ...
7(a) loans: This loan program is the SBA’s most popular. The maximum loan amount for a 7(a) loan is $5 million. The funds can be used for short and long-term working capital, refinancing current ...
SBA Express . Offers quick access to smaller loan amounts. Up to 7 years. Up to $500,000. Export Express. Helps businesses develop export side of their business. Up to 7 years. Up to $500,000 ...
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 ...
Loan amount. Up to $5 million. Maximum SBA guarantee. 85% of loans under $150,000, 75% for loans over $150,000. Interest rates. Cannot exceed SBA set maximum. Repayment terms.
There are three partners in an SBA 504 loan—the borrower, a bank or other regulated lender, and a CDC. Typically the borrower must contribute 10% of the total project cost; their bank lends 50% at their own rate and term (as long as the term is at least 10 years), and has a first lien on the assets being financed; and the CDC lends 40%, with a second lien.
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