SBA 7(a) Loan

Designed to meet a variety of your small business's capital needs. In the 7(a) program, as a result of the recent changes due to the Stimulus Plan, SBA temporarily provides a guarantee of 90% of the business loan made by the lender. Lender approves the financing subject to SBA participation. Capital Solutions prepares the SBA loan application for processing by the bank and SBA. Through our extensive network of local, regional, and national lenders, Capital Solutions can also assist loan applicant in securing a lending partner, if needed.

Who it's for

Retail, professional and services firms
Manufacturers, wholesalers and distributors, depending on the industry
Note: SBA programs are only available to eligible small businesses. Each applicant will need to be screened for size standards as well as other eligibility requirements.

Loan uses

Working capital
Inventory
Equipment purchase
Acquisition, expansion or renovation of owner-occupied commercial real estate
Business acquisition or start-ups
Debt refinancing

Features

Loan size. Up to $2.0 million (based on amount of guarantee)
Terms. Working capital and inventory: 5 –10 years; Equipment: up to 10 years
Interest rate. Dependent on size, term and use of proceeds; based on prime or LIBOR plus a spread
Required collateral. Business assets; personal assets may be required
Fees. Capital Solutions packaging fees generally range from $1,800 to $4,500, depending on the time involved and the complexity of the project; the upfront SBA Guaranty Fees temporarily waived; closing attorney