SBA provides loans to businesses; so the requirements of eligibility are based on specific aspects of the business and its principals.
If you are awarded a 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.
Learn what the repayment terms are for 7(a) loans.
The specific terms of SBA loans are negotiated between a borrower and an SBA-approved lender. In general, the following provisions apply to all SBA 7(a) loans.
There are two 7(a) loan process options with different time frames. In addition to standard procedures, SBA Express processing offers an expedited turnaround.
SBA offers several special purpose 7(a) loans to aid businesses that have been impacted by NAFTA, provide financial assistance to Employee Stock Ownership Plans, and help implement pollution controls.
U.S. Small Business Administration, 409 3rd St, SW. Washington DC 20416.