Question 1

What is an SBA 7(a) loan for law firms?

Accepted Answer

It is a government-backed financing option that offers flexible funding to help law firms manage operational needs, acquire practices, purchase real estate, or refinance existing debt.

Question 2

What do I need to qualify for an SBA 7(a) loan as a law firm?

Accepted Answer

To qualify, your law firm must be a for-profit business with steady cash flow and a strong credit profile, demonstrating the ability to manage loan repayments.