Question 1

How can an SBA 7(a) loan benefit my restaurant?

Accepted Answer

An SBA 7(a) loan can provide flexible, long-term financing to help your restaurant grow. Unlike traditional loans that depend heavily on collateral, the 7(a) program focuses on your restaurant’s cash flow and ability to repay. If you have steady revenue, a solid business plan, and good credit, you may qualify even without significant assets.

Question 2

What are the eligibility requirements for a restaurant to qualify for an SBA 7(a) loan?

Accepted Answer

To qualify, your restaurant must be a for-profit business with a strong financial foundation, have good credit, U.S. ownership and meet other SBA requirements.