SBA 7(a) ENGINEERING BUSINESS LOANS
In the fast-paced world of engineering, whether you’re working on groundbreaking projects or striving to expand your firm, the SBA 7(a) loan is a top financing choice due to its flexibility and accessibility. This program provides essential benefits tailored to support your business so you can focus on what you do best—creating innovative solutions that drive progress and transformation.
Longer Repayment Terms
With SBA 7(a) loans, you can choose repayment terms of up to 10 years for general business needs or up to 25 years for real estate purchases. Loans under 15 years come with no prepayment penalties, while longer loans have penalties for prepaying more than 25% within the first three years: 5% in the first year, 3% in the second, and 1% in the third. After three years, you can repay penalty-free, ensuring flexibility.
Competitive Interest Rates
Enjoy competitive interest rates with SBA 7(a) loans, helping you save on financing costs. A government guarantee lowers our risk, enabling us to provide better rates than other 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 Engineering Firm?
Our flexible financing solutions allow you to invest in the most critical aspects of your business, whether it's one specific area or several at once:
Business Expansion
Whether you're opening a new office, hiring more staff, or expanding your project portfolio, our loans provide the capital you need to successfully grow your engineering firm.
Equipment & Technology
Invest in advanced equipment and innovative technology to enhance your engineering capabilities and drive project success.
Real Estate Investments
Purchase, build, or refinance your facility to give your business a solid foundation for growth and success.
Working Capital
Ensure smooth day-to-day operations by covering essential expenses like payroll, equipment, and marketing.
Debt Refinancing
Simplify your financial management by consolidating multiple loans into one, often with better terms.
Solutions for Every Stage of Your Engineering Firm
Our SBA 7(a) loans are designed to support engineering owners throughout their careers, whether you’re just getting started, expanding your business, or preparing for retirement.