The SBA 7a Division of CRELender offers loan amounts up to $5,000,000 and 90% loan-to-value (LTV) financing, low interest rates, and terms up to 25 years. The U.S. Small Business Administration (SBA) is a federal government agency that administers loan guaranty programs to encourage growth and development of small businesses throughout the United States. Since 1953, the U.S. Small Business Administration has funded over 20 million loans to small businesses. SBA 7a loans make sense whether starting a new business, business acquisitions and start-ups, franchise financing, working capital, improvements, renovations, inventory, equipment, and debt refinancing. Your senior SBA 7a loan advisor at the CRELender SBA 7a Division will serve as your guide – from the type of loan to how best to present what you do and your financial situation to the SBA.
The SBA 7a qualifying standards are often more flexible than other types of loans. In general, to qualify for an SBA Loan, a business must be owner-operated with the borrower occupying at least 51% of an existing structure, or 60% of a newly constructed building. Getting an SBA loan is relatively simple for the SBA 7a Division of CRELender. The SBA 7a mission is to loan you money and help you succeed with a for-profit business generally organized as a sole proprietorship, corporation, or professional partnership.
The SBA 7a Division at CRELender has a dedicated team of experienced SBA 7a specialists who can make the process smooth and efficient for you. Your SBA 7a loan application will go to our specialized credit team to determine if you qualify under SBA 7a eligibility guidelines. Your SBA 7a interest rate can be either fixed or variable and will be determined based on a business and personal credit evaluation. The proceeds of a SBA 7a loan can be used for most business purposes. The CRELender SBA 7a Division was built from the ground up to be your best SBA 7a financing partner. We can even provide conditional approvals within hours of receiving a complete application.
Approved Uses for SBA 7a Loan Proceeds
- Purchase real estate
- Purchase of an existing business or franchise
- Refinancing existing debt
- Purchase of inventory, machinery, equipment, furniture, fixtures, and supplies, or materials.
- Working capital
- Construction or renovation
- Facilitate a change of ownership
Benefits of SBA 7a
- SBA 7a loans have less equity requirements than conventional loans.
- No balloons or calls—fully amortizing over the life of the loan.
- Declining penalty
- One-time SBA 7a loan guarantee fee based on loan size. Waived by the SBA 7a at this time.
- Personal guarantees for all individuals owning 20% or more. Corporate guarantees of affiliated companies may be required.
- Projected debt service coverage of 1.25:1 times.
- Same application process as a conventional loan
- Easier to qualify than conventional loans
- SBA 7a fees can be financed into the loan
- Ideal for businesses that may not meet the conventional lending collateral or cash flow requirements
- Often provide longer terms than conventional lending
- Ideal for companies that are expanding or opening a second location.
Important Notification: SBA 504 and CDC program Fee Eliminations for loan applications filed after February 17, 2009, The SBA will temporarily eliminate two program fees
- Third-Party Participation Fees (Small Business Investment Act Section 503(d)(2) fees codified at 13 CFR 120.972)
Input your loan request online now for fast flexible financing at competitive low rates.