BUSINESS SERVICE SBA 7(a) LOANS
The SBA 7(a) loan is a preferred financing option for companies in the business service industry, thanks to its flexibility and favorable terms. Whether you're starting a new marketing firm, upgrading your commercial security technology, or expanding your office cleaning services, this program offers essential benefits designed to support your business:
Longer Repayment Terms
SBA 7(a) loans provide flexible repayment terms, with up to 10 years for working capital, equipment, and general business needs, and up to 25 years for real estate purchases. Loans with terms under 15 years have no prepayment penalties, while loans exceeding 15 years incur penalties in the first three years: 5% in the first year, 3% in the second, and 1% in the third. After three years, you can repay without penalties, giving you freedom to manage your loan as needed.
Competitive Interest Rates
Leverage the competitive interest rates of SBA 7(a) loans to cut your financing costs. With a government-backed guarantee reducing our risk, we can offer more attractive rates than traditional business lenders.
Lower Down Payments
The government guaranty also enables small business owners to secure financing with lower down payments compared to traditional business loans, typically up to 20% of the total project cost but in some cases as low as 0%.
Flexible Use of Funds
The SBA 7(a) loan program is widely regarded as a top choice for small businesses due to its unmatched flexibility. Unlike many traditional loans that impose strict limitations, 7(a) loans empower businesses to meet a variety of financial needs, making them versatile for nearly any business purpose or stage of growth.
What Can SBA 7(a) Do for Your Business Service?
Our SBA 7(a) loans help business services invest in the most critical areas. Whether you're focused on upgrading facilities, enhancing services, or managing daily operations, we provide the capital you need to succeed.
Facility Expansions & Renovations
Expand your business or remodel existing spaces to create a more efficient and attractive workspace.
Equipment & Machinery
Invest in new vehicles or service trucks, or upgrade your tools and technology to enhance operational efficiency in your business.
Real Estate
Purchase or refinance property to secure the ideal location for your business, providing a solid foundation for growth.
Working Capital
Manage daily expenses like payroll, supplies, and marketing with ease, ensuring smooth operations for your business.
Debt Refinancing
Consolidate existing loans into a single, more manageable payment, often with better terms, reducing your financial burdens.
Solutions for Every Stage of Your Business Service Growth
Whether you're starting your business, expanding, or preparing for succession, our SBA 7(a) loans are designed to support your business at every stage.