Small Business and SBA Lending Blog
Every article on SBA 7(a) Loans, newest first. 184 pieces on the SBA 7(a) loan program, eligibility, rates, and the lending process.
Mar 12, 2024Are SBA 7(a) Loans Available for Franchises?If you have a franchise, you can get funding for it with an SBA 7(a) loan. Roughly 10% of all SBA loans go to franchises.Mar 11, 2024SBA 7(a) Loans vs. ROBS Financing: Using Retirement Funds for BusinessCompare SBA 7(a) loans and ROBS financing to determine the best way to fund your business using retirement funds or government-backed loans.Mar 8, 2024SBA 7(a) Loans vs. Equipment Financing: Get Equipment the Smart WayExplore the benefits and considerations of SBA 7(a) loans versus equipment financing to determine the best option for funding your business's equipmenMar 5, 2024How Industry Experience Helps Small Business BuyersDiscover how your industry background can boost your chances of securing an SBA loan for a small business acquisition.Feb 9, 2024SBA 7(a) Loans vs. Angel Investors: Attracting Investors vs. Securing LoansWhile there are some obvious differences, particularly around how much easier it is to get SBA financing, it's worth exploring how these two typesJan 10, 2024SBA 7(a) Loans vs. Business Credit Cards: Maximizing Financial Flexibility for Your BusinessExplore the differences between SBA 7(a) loans and business credit cards to find the best financial solution for maximizing your business's flexibilitJan 1, 2024What Is the SBA 7(a) Loan Interest Rate? (Updated Daily)Interest rates for the SBA 7(a) loan depend on several factors, the term and amount of the loan, the current WSJ Prime rate, and the borrower'sDec 7, 2023SBA 7(a) Loans vs. P2P Lending: the Pros and Cons of Peer LendingDiscover whether an SBA 7(a) loan or P2P lending is the best fit for your business, with real-world examples and a clear comparison of benefitsNov 15, 2023SBA 7(a) Loans vs. Crowdfunding Platforms: Understanding Crowdsourced FinancingExplore the distinct benefits and considerations of SBA 7(a) loans and crowdfunding platforms to determine the best financing option for your smallNov 10, 2023SBA 7(a) Loans for Trucking and Transport CompaniesSBA 7(a) loans can be an excellent way for trucking companies to source working capital, expand operations, or buy another business. Find out more.Nov 8, 2023SBA 7(a) Loans vs. Venture Capital: Evaluating Funding for StartupsExplore the nuances of SBA 7(a) loans and venture capital to make an informed decision that aligns with your startup's financial needs and growth straOct 26, 2023SBA 7(a) Loans vs. Personal Loans: Determine What's Right for Your BusinessExplore the differences between SBA 7(a) loans and personal business loans to determine the best option for your small business with in-depth guidanceOct 13, 2023SBA 7(a) Loans vs. Invoice Financing: Finding the Right Cash Flow SolutionExplore the differences between invoice financing and SBA 7(a) loans to determine the best cash flow solution for your business.Oct 13, 2023Merchant Cash Advances vs. SBA 7(a) Loans: Navigating Your Financing ChoicesCompare merchant cash advances and SBA 7(a) loans to determine the best financing option for your business needs.Oct 7, 2023SBA 7(a) Case Study: Breathing Life Back Into a LandmarkDiscover the unique journey of the Doctor Sax House's revival, showcasing Janover's innovative financing solutions and the power of thinking outsideOct 5, 2023Understanding the SBA 7(a) Loan Fees: Both for Borrowers and LendersLoan amount SBA guarantee (%) Guaranty fee on the guaranteed portion (%) Guaranteed portion – Guaranty fee – SBA sets the guarantee percentage andOct 4, 2023The ‘Hidden’ Costs of SBA 7(a) LoansIt’s essential you know exactly what you need to pay for one of the strongest small business financing options out there.Oct 2, 2023Using Social Media to Elevate Your BusinessFor many small businesses, social media platforms offer a great way to grow and build brand awareness. Knowing how to use it is the key.Sep 13, 2023How to Write a Business Plan for an SBA 7(a) LoanLearn to write a strong, coherent business plan. It is essential to getting approved for an SBA 7(a) loan.Sep 12, 2023Why 2023 Is the Right Time to Buy a BusinessThere are more opportunities to buy businesses today than ever before, and an SBA loan could help you achieve your goal with no money down.Sep 11, 2023What's the Difference Between an SBA 7(a) and a 504 Loan?Both the SBA 7(a) and 504 loans are government-backed loan programs that give small business owners and lenders the opportunity to meet goals, largeAug 30, 2023How Major Financial Changes Can Impact Your SBA Loan ApplicationExplore the importance of financial stability during the SBA loan process, complete with actionable insights and a real-world case study.Aug 24, 202320 Industries With the Best SBA 7(a) Track RecordsWe’ve analyzed data from the Small Business Administration to showcase which industries have the lowest levels of defaults and charge offs for SBA 7(aAug 17, 2023Construction Project Documentation for SBA Loans: Your Comprehensive GuideUsing an SBA 7(a) loan for construction requires a lot of documentation. Use our comprehensive guide to understand exactly what to have on hand.Jul 21, 2023Complete Guide to Entity and Guarantor Documentation for SBA 7(a) LoansIt's essential to be prepared with updated and accurate documentation to close your SBA loan smoothly.Jul 14, 2023Understanding Legal and Insurance Needs for SBA LoansThis comprehensive step-by-step guide helps you navigate and fulfill legal and insurance requirements for SBA financing.Jul 5, 2023Tackling Federal Tax Liabilities for a Smooth SBA Loan CloseLearn how to proactively address federal tax liabilities to secure your SBA loan with our guide.Jun 30, 2023Getting Life Insurance: Necessary for Your SBA LoanLife insurance is typically required to get SBA financing. Explore our guide to understand everything you need to know.Jun 28, 2023Disclosing Assets Properly to Streamline Your SBA Loan ClosingAvoid headaches tomorrow by thoroughly and transparently disclosing your assets during the SBA financing application process. Learn how.Jun 23, 2023Why Equity Verification Matters for SBA LoansDiscover how equity verification works, and what seasoning is, in the small business financing world, with practical tips and insights along the way.Jun 16, 2023How Liens, Judgments, and Bankruptcies Can Impact Your SBA LoanLearn how to navigate through liens, judgments, and bankruptcies to successfully secure your SBA loan with proactive steps and lender communication.Jun 9, 2023Close Your SBA Loan Faster By Being ResponsiveBeing quick to respond with accurate information is one of the easiest ways to ensure your SBA financing package closes quickly.Jun 9, 2023What Zions Bank’s Exit Means for Small Business FinancingWhile fewer lenders isn’t a good thing, borrowers still have plenty of great options for SBA loans.Jun 6, 2023Seller Notes: A Vital Tool for Small Business OwnersTaking a loan from a seller is a very common, and often advantageous, way to finance part of a business or real estate acquisition.May 31, 2023Understanding SBA Loans: What Is an EPC and an OC?This comprehensive guide provides key insights into what an EPC and an OC are, and how they form the backbone of SBA financing strategy.May 30, 2023A Physician's Guide to Business FinancingNavigate the complex world of business finance with our comprehensive guide on SBA loans for physicians.May 19, 2023Busting 5 SBA 7(a) Loan MythsSBA 7(a) loans are great small business loan options. But is everything you've heard about them true? Let's break down some myths.May 11, 2023How the SBA's May 2023 Update Impacts SBA 7(a) Equity RequirementsThe update significantly changes equity requirements for SBA loans as well as how sellers’ notes are handled.May 5, 2023Top 5 States for SBA Loan Approvals in 2023The SBA approved more than 26,000 7(a) loans with a value of nearly $13 billion in the past six months. Find out which states had the most.Oct 27, 2022Small Business Loans Guide: Before You StartThere are many reasons to get a loan for your business. To start a business, for working capital, for equipment, for emergencies, the list goes on.Aug 26, 2022Getting 100% Commercial Real Estate Financing With An SBA 7(a) LoanWhile most forms of SBA 7(a) loans require at least 5-10% down, some lenders are now offering 100% commercial property financing with SBA 7(a) loans.Aug 26, 2022The Entrepreneur’s Guide to Startup Business Loans in 2018: From SBA and Crowdfunding to VC and BeyondThere are plenty of both traditional funding paths (like SBA loans and venture capital) and less conventional options (crowdfunding or microlending)Aug 26, 20223 Ways the SBA 7(a) Loan Can Help Entrepreneurs with Owner-Occupied Commercial Real EstateGetting funding for real estate for a startup can be tricky. A traditional loan from a bank, credit union, or other lending institution can require 20Aug 26, 2022Can You Use a 401(k) as an SBA Loan Down Payment?If you have a 401(k) account or another approved tax-deferred retirement account with at least $50,000 in it, you may be able to use those funds asAug 26, 2022The Top 5 Best Working Capital Loans for Small Businesses in 2018Working capital is essential for any functioning business; without enough of it, business owners can’t afford to pay their employees, fill ordersAug 26, 2022Are SBA 7(a) Loans Assumable?Fortunately for borrowers, SBA loans, including the SBA 7(a) loan , are fully assumable with SBA approval.Aug 26, 2022Why Now is the Time to Get SBA Funding for an Assisted Living FacilityThere's a growing need for assisted living facilities in the U.S.Aug 26, 2022What Are The Best Franchises to Start With an SBA 7(a) Loan?While you might already know that SBA loans are available to many franchises , you might not know how they stack up against each other.Aug 26, 2022The Internet's 9 Best Commercial Loan CalculatorsFor many entrepreneurs, figuring out how to finance their plans is just as difficult as figuring out those plans in the first place.Aug 26, 2022The Best (and Worst) States for Getting an SBA 7(a) LoanNo matter where you live in the United States, you’re eligible for an SBA 7(a) loan to help start or grow your business.Aug 26, 2022Borrower Equity and the SBA 7(a) Loan: What You Need to KnowDo you need money for your small business, but haven’t been able to get the funds you need from conventional sources because you’re short on equityAug 26, 2022Can You Use an SBA Loan to Buy an Online Business?Online and fully remote companies are just as eligible for SBA loans as their traditional counterparts.Aug 26, 2022Can You Use an SBA Loan to Buy Part of a Business?Unfortunately for borrowers, SBA 7(a) loans cannot be used to purchase part of a business.Aug 26, 2022How Do I Get an SBA 7(a) Loan with Bad Credit?Can bad credit keep you from getting an SBA loan? Not always.Aug 26, 2022Using the SBA 7(a) for a Car DealershipFrom 2012 to 2017, the new car dealership industry in the United States grew by 4.5%.Aug 26, 2022Can You Combine an SBA 7(a) Loan with an SBA 504 Loan?Many borrowers appreciate the fact that SBA 7(a) loans can be used for both working capital and commercial real estate, which makes them one ofAug 26, 2022What is a Commercial Real Estate Loan?A commercial real estate loan is a mortgage loan secured against a commercial property.Aug 26, 2022SBA Loans for Computer Repair CompaniesIf you’re looking for financing to open, expand, or refinance business debt on a computer repair company, an SBA loan could be the perfect option.Aug 26, 2022SBA 7(a) Loans for Builders and Construction CompaniesIf you’re interested in expanding a construction company that you currently own, acquiring an existing construction business, or buying out a partnerAug 26, 2022Coronavirus and SBA LoansSmall businesses impacted by the COVID-19 Coronavirus may want to apply for an SBA loan through the Economic Injury Disaster Loan Program, the SBA 7(aAug 26, 2022SBA 7(a) Loans for Dental LabsIf you own or operate a dental lab, an SBA 7(a) loan could be a great option for financing the expansion or working capital of your business.Aug 26, 2022Can You Get an SBA 7(a) Loan for a Dental Office?SBA 7(a) loans are available for all kinds of uses for dental practices, from financing working capital to even the construction of a new building.Aug 26, 2022Does the SBA 7(a) Loan Program Have Borrower Equity Requirements?Yes. Borrowers are expected to inject their own money into their business, and this monetary injection is what’s referred to as borrower equityAug 26, 2022Can You Get an SBA 7(a) Loan for a Funeral Home?If you operate a funeral home or are considering opening one, an SBA 7(a) loan could be a fantastic option for a variety of uses. Learn more.Aug 26, 2022Can You Use a Gift as a Down Payment on an SBA 7(a) Loan?Fortunately for SBA loan borrowers, there’s nothing preventing you from using a gift as a down payment on an SBA 7(a) loan .Aug 26, 2022Goodwill in Relation to SBA 7(a) LoansGoodwill is an intangible asset that arises when a new owner purchases a business.Aug 26, 2022Can You Get a Gym Equipment Loan Through the Small Business Administration?If you’re a gym or health club owner, the SBA 7(a) or even Express loan could be a terrific option to finance the acquisition of gym equipment.Aug 26, 2022How Do Commercial Real Estate Loans Work?Commercial real estate lending isn’t rocket science. But the lack of resources out there on the topic certainly make it feel that way, sometimes.Aug 26, 2022Understanding How the SBA Guarantees LoansThe SBA doesn’t lend money directly, but guarantees a portion of loans made by third-party lenders.Aug 26, 2022How Long Does it Take to Approve an SBA 7(a) Loan?SBA 7(a) approval time varies, depending on the lender’s experience level.Aug 26, 2022How Much is the SBA 7(a) Down Payment?SBA 7(a) loan downpayment is lower than a standard business loan.Aug 26, 2022How to Fill Out Paperwork for the SBA 7(a) LoanYour business is counting on potential SBA funding to get off the ground (or grow).Aug 26, 2022SBA Loans for HVAC CompaniesIf you own or operate an HVAC business and you need funding to maintain or grow your firm, getting an SBA loan could be the ideal solution.Aug 26, 2022SBA 7(a) Loans for Insurance AgenciesThe SBA 7(a) loan has myriad uses for insurance agencies, including purchasing or expanding an agency, or even buying real estate.Aug 26, 2022What are SBA International Trade Loans?SBA International Trade Loans can provide much-needed financing for small businesses expanding export operations, so long as they work to improveAug 26, 2022SBA 7(a) Loans for Landscaping CompaniesThere are nearly half a million landscaping businesses across the U.S. Learn how the SBA 7(a) loan can set yours apart from the crowd.Aug 26, 2022SBA Loans for Laundromats and Dry CleanersThere's still a huge amount of demand for laundry services today. Find out how an SBA 7(a) loan could make a major difference in your business plans.Aug 26, 2022How to Save Up a Down Payment for an SBA LoanWhy do you need a down payment if you want the SBA to approve your loan request? Because the SBA considers your personal investment a sign that you’llAug 26, 2022SBA 7(a) Loans for Liquor StoresThere are about 50,000 wine, beer, and liquor stores throughout the United States, generating an annual revenue of approximately $60 billion.Aug 26, 2022The Top SBA Lenders of 2018Looking for the perfect SBA lending institution to fund your next business move? Increase your odds by going with one of the top lenders of 2018.Aug 26, 2022SBA Loans Flowchart: Which SBA Loan is Right for Me?Think you're ready to take out an SBA loan? Follow our flowchart to see which loan best fits your needs.Aug 26, 2022SBA Loan Comparison Flowchart: What's the Best SBA Loan for Me?You know you need financing for your small business, but you're wondering which SBA loan product to choose.Aug 26, 2022Small Business Loans for Real Estate AgentsIn 2017, over 6 million homes were sold across the United States, and nearly 90% of sellers used a real estate agent to help them through the process.Aug 26, 2022SBA 7(a) Loans for Tax Preparation FirmsTax preparation firms can use SBA 7(a) financing to buy real estate, acquire a competitor, or even fund working capital.Aug 26, 2022What is a Low-Doc SBA Loan?If you’re a borrower who wants an SBA loan fast, a low-doc SBA loan could be the ideal solution.Aug 26, 2022SBA 7(a) Loans for ManufacturersIf you own and operate a manufacturing company, an SBA 7(a) loan can provide you with funds to expand your firm, build a new headquarters, acquireAug 26, 2022Can You Get Marina Financing With An SBA 7(a) Loan?SBA 7(a) loans can offer marina owners a lifeline by providing working capital financing, refinancing existing debt, or funding the acquisition ofAug 26, 2022Can You Get an SBA 7(a) Loan for a Medical Center?Private medical centers play an important role in the American healthcare system. Find out how an SBA 7(a) loan can give your business an advantage.Aug 26, 2022Are There SBA 7(a) Loan Programs for Minorities?Right now, there are more than 11 million minority-owned businesses across the U.S., and that number is growing rapidly each year.Aug 26, 2022Can You Get Multiple SBA Loans?Yes, as long as each of your loans fits within the SBA’s lending guidelines, there is nothing preventing you from having more than one SBA loan.Aug 26, 2022New SBA Loan Rules Make It Easier for Borrowers to Acquire BusinessesOn Jan. 1st, 2018, the SBA enacted a series of new rules making it easier for individuals to use SBA 7(a) loans to purchase a business.Aug 26, 2022Non-SBA Financing Options for Small BusinessesIt’s normal for entrepreneurs (like you!) who own, or are planning to own, a small business frequently find themselves in need of additional fundsAug 26, 2022Getting an SBA 7(a) Loan to Buy Out a PartnerIf you run a business with one or more partners, there may come a day when you want to buy one or more of them out.Aug 26, 2022SBA Loans for PlumbersIf you own a plumbing business and want to expand your company, buy a competitor, or refinance business debt, an SBA 7(a) loan could be one of the besAug 26, 2022Do SBA 7(a) Loans Have Prepayment Penalties?Like many kinds of loans, SBA 7(a) loans do have prepayment penalties, which are fees designed to compensate a lender should a borrower decide to payAug 26, 2022What Prime Rate Hikes Mean for Small Business Owners (Updated Daily)WSJ Prime rate today is WSJ Prime rate + 0.00%. When the Fed adjusts the federal funds rate, it has a direct impact on small businesses acrossAug 26, 2022What are the Pros and Cons of SBA 7(a) Loans?SBA 7(a) loans are some of the most small business popular loan products in the U.S, with a total loan volume of almost $26 billion in 2017 alone.Aug 26, 2022Qualifying for an SBA 7(a) LoanWith care and attention, you can give yourself the best possible chance at getting the SBA loan that your business needs to grow and thrive.Aug 26, 20225 Quick Fixes to Improve Your Business CreditYour business credit score is one of the first numbers lenders will use to gauge your ability to manage your finances and pay off any potential loansAug 26, 2022Can SBA Loans Be Used for Real Estate Investment?SBA loans cannot be used for businesses in which the primary source of income is real estate investment.Aug 26, 2022Can You Refinance an SBA Loan?In most cases, the SBA will not permit a borrower to refinance an SBA-guaranteed loan such as the SBA 7(a) or SBA 504 loan.Aug 26, 2022What is the Required Debt Service Coverage Ratio (DSCR) for SBA 7(a) Loans?Debt service coverage ratio, or DSCR, is one of the most important factors lenders look at when approving a loan.Aug 26, 2022SBA 7(a) Loans for Beauty SalonsAn SBA 7(a) loan can be ideal for beauty salon owners looking for sources of financing for equipment, working capital, or real estate.Aug 26, 2022Wondering What a Sample SBA 7(a) Loan Proposal Looks Like?If you're a hands-on learner (and the type who likes to be insanely prepared), you likely want to know what an SBA loan proposal might look like beforAug 26, 2022SBA 7(a) Fact Sheet: Loan Terms, Fees, and MoreGet the essential details on the SBA 7(a) loan in our free fact sheet here.Aug 26, 2022SBA 7(a) Glossary: Important Terms to KnowSmall business owners and entrepreneurs have big dreams, but they don’t always have the capital to fund them.Aug 26, 2022SBA 7(a) Paperwork Explained: Lender's Credit MemorandumFor SBA Loans of $350,000 or less, the lender will perform a thorough and accurate credit analysis of your finances to show proof that you haveAug 26, 2022SBA 7(a) Loan Checklist: Getting Ready to ApplyBetween growing business, putting out fires, and trying to squeeze in some sleep (remember that?) you also have to magically conjure up the timeAug 26, 2022Saving Up a Down Payment for an SBA LoanThe SBA7a loan, backed by the Small Business Administration , has made it easier for new borrowers and so-called “weak” borrowers to secure the capitaAug 26, 2022SBA 7(a) Fact Sheet: All the Essentials in One PageIf you're wondering about collateral, loan length, terms, and rates (but don't want to sift through pages of literature) you've come to the rightAug 26, 2022How to Get an SBA Loan for a RestaurantMost banks consider restaurants to be high risk, meaning that they are far less likely to approve loans for restaurant owners.Aug 26, 2022Getting a Business Mortgage for a HotelLooking to buy a hotel, or grow your hospitality business? An SBA 7(a) loan can help alleviate your funding challenges, whether you need a businessAug 26, 2022Business Mortgages for Motels: A PrimerTraditional banks and lenders tend to see motel businesses as high risk.Aug 26, 2022Do SBA 7(a) Loans Require Collateral?The SBA 7(a) loan programs don't require collateral, but individual banks may have their own requirements.Aug 26, 2022SBA 7(a) Loans for Assisted Living FacilitiesThe underwriting procedures for an assisted living facility are different from other types of business mortgages.Aug 26, 2022SBA 7(a) Loans for Auto Repair ShopsThe global automotive aftermarket industry is projected to grow to $722.8 billion by 2020.Aug 26, 2022SBA 7(a) Loans for Bars and ClubsWhether you have a new business or a seasoned establishment, find out what an SBA 7(a) loan could do for your bar or club's bottom line.Aug 26, 2022Using the SBA 7(a) Loan for a Bed and BreakfastSBA loans are available for B&Bs. Find out how this financing could give your business the boost it needs.Aug 26, 2022What are SBA Community Advantage Loans?If you’re a minority business owner, or a member of another underserved community, it can be especially challenging to get financing for your smallAug 26, 2022SBA Loan Requirements: Credit ScoresIs your personal credit good enough to apply for an SBA loan? Understand the requirements to find out if you'd qualify.Aug 26, 2022How Do SBA Disaster Loans Work? What They Are and How to ApplyAfter a large-scale natural disaster such as a hurricane, flood, earthquake, wildfire, or tornado, the federal government gives the SBA the jobAug 26, 2022SBA 7(a) Paperwork Explained: Draft AuthorizationThe Draft Authorization is a living document and a specific contract between your lender and the SBA.Aug 26, 2022SBA Express Loans for VeteransIf you’re a veteran who wants to get an SBA Express loan , the Small Business Administration is committed to making the process as easy as possible.Aug 26, 2022How to Get Your SBA Loan Approved FasterWhen you’re in the market for a business loan, getting access to the funds you need quickly is definitely a priority.Aug 26, 2022Can Non-US Citizens Qualify for SBA Loans?If you are a non-U.S. citizen considering an SBA loan, there are some clear requirements you must be aware of.Aug 26, 2022Can You Get an SBA 7(a) Loan for a Medical Practice?If you’re a doctor looking to start, purchase, or expand your medical practice, an SBA 7(a) loan could be a great choice. Find out why.Aug 26, 2022SBA 7(a) Paperwork Explained: Business and Affiliate Financial StatementsIn addition to required forms that the SBA supplies, you and your business affiliates need to provide financial statements for your business.Aug 26, 2022Are there SBA Loans for Women Entrepreneurs?According to the National Association of Women Business Owners (NAWBO), there are over 11.6 million women entrepreneurs across the U.S., generatingAug 26, 2022What Are SBA Microloans?SBA Microloans, which come in amounts between $10,000 and $50,000, are the smallest loans offered by the Small Business Administration.Aug 26, 2022Where to Find Startup Business Loans in 2018Startup business loans aren’t super easy to come by. You may have already come up against this challenge in meetings with lenders.Aug 26, 2022The SBA Veterans Advantage ProgramThe SBA Veteran Advantage Program honors veterans and other qualified individuals with lower fees on all of their popular SBA loan products.Aug 26, 2022SBA Loans vs. Conventional Loans: What's the Difference?When it comes to getting financing for your small business, one of the biggest choices you’ll have to make is whether to go with an SBA loan orAug 26, 2022SBA7(a) Loans in NevadaOperating in one of the fastest growing states, SBA7a.loans works in Nevada’s thriving business hubs including Las Vegas, Henderson, and Reno.Aug 26, 2022Seller Notes in Relation to SBA 7(a) LoansA seller note is a loan given by the current owner of a business to a new buyer, often in order to bridge the gap between the amount of financingAug 26, 2022How Does the SBA Define a Small Business?Due to its mission, the SBA only guarantees loans to small businesses, but what is a “small business”? Well, according to the SBA , a small businessesAug 26, 2022Does the SBA Have State-Specific Requirements for Their Loan Programs?Certain states may have their own requirements regarding the specifics of how the SBA 7(a) loan is used.Aug 26, 2022What Are the Different SBA 7(a) Loan Programs?Did you know that there are several different SBA 7(a) loan programs available to small business owners? The SBA 7(a) loan is the most popularAug 26, 2022Top 5 SBA 7(a) Lenders of 2022With close to $18.1 billion in approved SBA 7(a) loans so far this year, we take a look at this year’s five biggest lenders by volume.Aug 26, 20225 Reasons Why Your Small Business May Not Be Approved for an SBA LoanWe wanted to get some perspective from commercial loan officers on the most common mistakes they see business owners making when applying for a loAug 26, 2022Steps to Getting an SBA 7(a) Loan to Open a Retail StoreThe SBA backs loans for retail businesses for a variety of uses. Find out how you can grab one to take your store to the next level.Aug 26, 2022Using the SBA 7(a) for a Car Wash LotThe SBA 7(a) loan is a government-backed loan of up to $5 million.Aug 26, 2022Using the SBA 7(a) for a Gas Station or Convenience StoreGetting an SBA 7(a) loan from a bank, credit union, or other lending institution is a great way to reach your goals as the owner of a gas stationAug 26, 2022Using the SBA 7(a) Loan for a HotelStarting and running a business in the hospitality industry is expensive, which is why the SBA offers SBA 7(a) loans of up to $5 million to helpAug 26, 2022Using the SBA 7(a) for a MotelWhen you’re looking for an SBA lender, it’s important to find one who specializes in motels.Aug 26, 2022Using the SBA 7(a) for a PreschoolAs the daycare industry continues to grow, there are some incredible advantages if you tap financing to propel your business to the next level.Aug 26, 2022Using the SBA 7(a) Loan for a RestaurantNew and existing restaurants can benefit from an SBA loan. Find the funding you need, whether it's for real estate, equipment, working capital, orAug 26, 2022Using the SBA 7(a) for a Retail StoreGetting financing for a retail business, whether for working capital, inventory, or real estate, is often a major challenge, and headache.Aug 26, 2022Using the SBA 7(a) for a Self-Storage FacilitySBA 7(a) financing has many uses for the self-storage businesses. They can be used for new construction, refinancing, or purchasing existing facilitieAug 26, 2022Using the SBA 7(a) for an Office BuildingWhether you’re building a new office building or buying an existing one, a business mortgage is an expensive ordeal. SBA 7(a) financing can help.Aug 26, 2022Finding the Funding to Open a Bar or ClubBars and restaurants have a high start-up cost compared to other industries, with an average of $500,000.Aug 26, 2022Veterinary Practice Financing Through the SBA 7(a) Loan ProgramIn 2017, veterinary practices and animal hospitals employed nearly 400,000 people across the U.S., while generating a staggering $42 billionAug 26, 2022What Are Fixed Assets in the SBA 7(a) Program?The SBA talks about fixed assets as tangible and long term, meaning they can’t be converted into cash easily.Aug 26, 2022What Are Liabilities in the SBA 7(a) Program?A business’s financial obligations, like SBA 7(a) loan payments, salaries, mortgages, and deferred payments, are considered liabilities.Aug 26, 2022What Are the SBA 7(a) Loan Borrower Eligibility Requirements?Eligibility depends on several factors decided by both the lender and the SBA.Aug 26, 2022What are CAPLines?CAPLines are a series of permanent loan programs under the SBA 7(a) that allow small business owners to take out loans specifically for seasonalAug 26, 2022What Are the SBA 7(a) Loan Programs?Each of the SBA 7(a) loan programs are loan products guaranteed by the SBA and offered through financial institutions.Aug 26, 2022What Is a Pilot 7(a) Program?The SBA provides Pilot 7(a) loans sporadically to address development of a specific sector or geographical region.Aug 26, 2022What is a Small Business Administration (SBA) Loan?SBA Loans are a flexible, competitively priced business financing option that the U.S Small Business Administration guarantees.Aug 26, 2022What is an SBA 7(a) Loan?The SBA 7(a) loan is the Small Business Administration’s (SBA’s) most popular form of business financing.Aug 26, 2022What Is an SBA Loan Amortization Schedule?During the early years of your loan repayment, most of the funds from each payment will go toward interest, not the principal.Aug 26, 2022What Is an SBA Preferred Lender?An SBA Preferred Lender can help borrowers get the funds they need faster than a regular SBA lender.Aug 26, 2022What is FICO SBSS?If you’re applying for a small business loan, like the SBA 7(a) loan , there are two types of credit scores that can make a big differenceAug 26, 2022What's an LTC and LTV Ratio?Both the LTC (loan-to-cost) and LTV (loan-to-value) ratio are key factors in any commercial real estate construction project.Aug 26, 2022What is the LTC Ratio for the SBA 7(a) Loan?If your business plans include taking out a commercial real estate construction loan , you’ll want to familiarize yourself with the Loan to Cost (LTC)Aug 26, 2022What Is the Maturity of the SBA 7(a) Loan?Maturity is the total length of payments a borrower will make to a lender.Aug 26, 2022What is the SBA 504 Loan Program?Businesses looking for funding options for mid-sized to large real estate and land projects can find what they need in the SBA 504 loan program.Aug 26, 2022What Is the Export Express Program?The Export Express program is a streamlined process for lenders to get SBA-backed financing using the lender’s own decisions, processes, and documentaAug 26, 2022What Is the Export Working Capital Program?The Export Working Capital Program is a type of SBA 7(a) loan that’s specifically for businesses that generate sales through exports and requireAug 26, 2022What Is the SBA Express Loan?An SBA 7(a) Express Loan has fewer hoops to jump through than the other SBA 7(a) loans, since you won’t be waiting on as many back-and-forth approvalsAug 26, 2022What Is the SBA 7(a) Loan Approval Time?An SBA 7(a) loan can take time to move through approval, typically, 60-90 days.Aug 26, 2022What Is the SBA 7(a) Loan Maximum Amount?The maximum amount for an SBA 7(a) loan is $5 million, but other programs have different maximum amounts. Here’s a breakdown of maximum SBA loan amounAug 26, 2022What Is the 7(a) Small Loan?The SBA 7(a) Small Loan is the name for an SBA 7(a) Loan up to $350,000.Aug 26, 2022What Is the SBA 7(a) Standard Loan?An SBA 7(a) Loan for over $350,000 is called a Standard Loan. These loans are eligible for SBA guarantees of up to 75%.Aug 26, 2022What Is the Veterans Advantage Program?The Veterans Advantage program supports small businesses that are at least 51% owned by a veteran, active duty service member, or a military spouseAug 26, 2022SBA 7(a) Paperwork Explained: Form 159While Form 159, “Fee Disclosure Form and Compensation Agreement,” is only required for about a third of SBA loan applicants, you definitely want to beAug 26, 2022SBA 7(a) Paperwork Explained: Form 1919Form 1919 gives the SBA crucial information about you, the borrower, and also facilitates a background check.Aug 26, 2022SBA 7(a) Paperwork Explained: Form 1920On SBA Form 1920, the lender must provide information about the loan terms, how the funds will be used, and more.Aug 26, 2022SBA 7(a) Paperwork Explained: SBA Form 912When you're applying for an SBA 7(a) loan, one of the forms you'll have to fill out is the SBA Form 912.Aug 26, 2022What Is the Patriot Express Loan?As of June 28, 2007, the SBA 7(a) Loan Program (the most common and popular program offered by the SBA) offered the Patriot Express Loan.Aug 26, 2022What is the Small Business Administration (SBA)?The Small Business Administration, also known as the SBA, is a U.S.Aug 26, 2022SBA 7(a) Paperwork Explained: SBA Form 413SBA Form 413 is the applicant’s personal financial statement -- in other words, it's the part where your lender and the SBA hold a microscope toAug 26, 2022Who Are Specialized Lenders in the SBA 7(a) Loan Program?In terms of SBA lending, a specialized lender is a bank or other financial institution that meets the SBA's criteria for offering SBA loan products.Aug 26, 2022What Is a Working Capital Loan?A working capital loan is a loan used to fund the everyday operations of a business. Learn what this includes with our guide.Aug 26, 2022Writing a Proposal for the SBA 7(a) LoanEven though the SBA exists to promote the inception and growth of small businesses, its funding is limited.
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