Loan Overview

Take your small business further with financial support from one of the SBA’s many loan programs. If you create jobs in your local economy, consider seeking an SBA 7(a) or SBA 504 loan today.

The SBA works to give a boost to small businesses that have had difficulty getting loans from banks and other lenders. By acting as a guarantor on the loan, the agency reduces lender risk, making small business loans less of a gamble. SBA 7(a) and 504 are two common loans with many similarities. They can both be used for real estate, equipment, renovation, and construction. To qualify for either loan, your business must have $5M or less in net annual revenue and $15M or less in net worth. You also have to prove that you create jobs within the country. Certain types of businesses like churches, casinos, and real estate brokers aren’t eligible for SBA funding.

To get a 7(a) loan, your broker will help you identify a private lender who is SBA-certified. For an SBA 504, ask your lender to connect you with a Certified Development Company. CDCs are non-profit organizations that service SBA 504 loans. Depending on where you do business, you may have many CDCs to choose from, which is why it’s important to have a knowledgeable broker guide the way.