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SBA 7a Loan

The SBA 7(a) loan is the most widely used Small Business Administration financing because of the numerous types of loans available both for personal property and real property purchase as well as refinance options. A SBA 7a loan is typically a Term Loan with the following attributes available to the company borrowing the funds, expansion or renovation; new construction, purchase land or buildings; purchase equipment, fixtures, lease-hold improvements; working capital; refinance debt for compelling reasons; seasonal line of credit, inventory.

7a Loan Application

Apply today for a SBA 7a loan to PURCHASE OR START A NEW BUSINESS, OR EXPAND THE COMPANY YOU OWN! If your company is approved for a SBA 7(a) loan, the loan proceeds may be used to establish a new business or to assist in the acquisition, operation, or expansion of an existing business.

SBA 7a Application

Call us for help in completing the forms: (619) 450-5800

Standard 7(a) – Maximum Loan Size = $5,000,000

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SBA Eligibility Questionnaire For Standard 7(a) Guaranty

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Standard 7(a) Guaranty Application Submission Instructions

4-I

Lender's Application for Guaranty or Participation

4

Application for Business Loan

4-A

SBA Form 4-A: Schedule of Collateral - Exhibit A

147

SBA Form 147: Note - 7(a) Loans

148L

Unconditional Limited Guarantee

148

Unconditional Guarantee

155

Standby Creditor's Agreement

159 (7a)

Fee Disclosure Form and Compensation Agreement For Agent Services In Connection With an SBA 7(a) Loan

160

SBA Form 160: Resolution of Board of Directors

413

Personal Financial Statement

601

Agreement of Compliance

722

SBA FORM 722 (10-02)

912

Statement of Personal History

1050

Settlement Sheet (Use of Proceeds Certification)

1059

SBA Form 1059: Security Agreement

1502

Guaranty Loan Status & Lender Remittance Form

1624

Certification Regarding Debarment, Suspension, Ineligibility and Voluntary Exclusion Lower Tier Covered Transactions

1846

Statement Regarding Lobbying

2237

7(a) Loan Post Approval Action Checklist

4506-T

Request for Transcript of Tax Return

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National 7(a) Authorization Boilerplate

SBA 7(A) Loan Requirements

SBA 7(A) Loan
Application FeesNo
Personal GuaranteeYes: All owners of twenty percent (20%) or more of the business are required to personally guarantee the SBA loan.
Minority Owners: Possibly
CollateralSBA does not deny approval for a SBA guaranty loan solely due to lack of collateral; however, it can be used as a reason, in addition to other credit factors.
Age of BusinessNew Business Okay
Funding AmountsCommercial Real Estate: Maximum Loan $2,000,000
Equipment & Working Capital:
Time to Funding24-hour conditional APPROVAL and close within 30 DAYS!
Credit Score Required600+
Interest RatesCommercial Real Estate: Interest Rate Variable Rate/ Prime + (up to 2.75%)
Loans less than 7 years: max. prime + 2.25%; 7 yrs. or more: prime +2.75%; under $50,000, rates can be higher by 2% for loans of $25,000 or less; and 1% for loans between $25,000 and $50,000.
Percent of Guaranty85% guaranty for loans of $150,000 or less; 75% guaranty for loans greater than $150,000 (up to $3.75 million maximum guaranty)
Use of Proceeds
  • The purchase land or buildings, to cover new construction as well as expansion or conversion of existing facilities
  • The purchase of equipment, machinery, furniture, fixtures, supplies, or materials
  • Long-term working capital, including the payment of accounts payable and/or the purchase of inventory
  • Short-term working capital needs, including seasonal financing, contract performance, construction financing and export production
  • To purchase an existing business
MaturityDepends on ability to repay. Generally, working capital & machinery & equipment (not to exceed life of equipment) is 5-10 years; real estate is 25 years.
Guaranty Fees(Fee charged on guaranteed portion of loan only)
Maturity: 1 year or less 0.25% guaranty fee; over 1 year: $150,000 gross amount or less = 2%; 150,001—$700,000 = 3.0%; over $700,000 = 3.5%; 3.75% on guaranty portion over $1 million. Ongoing fee of 0.55%.
Who QualifiesMust be a for profit business & meet SBA size standards; show good character, credit, management, and ability to repay. Must be an eligible type of business.
Benefits to Borrowers
  • Long-term financing
  • Improved cash flow; Fixed maturity
  • No balloons; No prepayment penalty (under 15 years)

If your company needs commercial financing, for either a refinance or purchase, we may be able to help you. In addition to SBA 7A real estate loans our services also include SBA 504 loans for real estate and Commercial Loans.


Just because you have been turned down by another bank should not stop you from speaking to us....

Receive a SBA 7a Loan Small Business Loan Today!