Law Firm SBA 7(a) Loans
Managing a successful law firm demands strategic financial planning and resources. The SBA 7(a) loan program, backed by the government, is a top financing choice for law firms due to its flexibility and accessibility. Whether you’re looking to expand your practice or invest in technology, this program provides essential benefits tailored to support your business.
Longer Repayment Terms
The SBA 7(a) program offers extended repayment options, with terms up to 10 years for working capital, equipment, and other business uses, and up to 25 years for real estate purchases. Loans under 15 years can be prepaid anytime without penalties. For loans over 15 years, penalties apply for paying off more than 25% within the first three years: 5% in year one, 3% in year two, and 1% in year three. After three years, all loans are penalty-free.
Competitive Interest Rates
Take advantage of the competitive interest rates offered by SBA 7(a) loans to reduce your financing costs and maximize your profitability. The government partially guarantees these loans, reducing our risk and allowing us to offer you better interest rates.
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 Law Firm?
Our flexible financing solutions allow you to invest in the most critical aspects of your firm, whether it's one specific area or several at once:
Business Expansion
Whether you’re expanding your practice areas, opening a new office location, or hiring additional attorneys, our loans provide the capital you need to successfully grow your law firm.
Equipment & Technology
Invest in office infrastructure and innovative technology to enhance your legal services and improve client satisfaction.
Real Estate Investments
Purchase, build, or refinance your firm 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, technology, and marketing.
Debt Refinancing
Simplify your financial management by consolidating multiple loans into one, often with better terms.
Solutions for Every Stage of Your Law Firm
Our SBA 7(a) loans are designed to support law firm owners throughout their careers, whether you’re just getting started, expanding your business, or preparing for retirement.