SPECIALTY TRADE SBA 7(a) LOANS
The SBA 7(a) loan is an ideal financing solution for electricians, HVAC technicians, plumbers, and other skilled trade professionals because of its flexibility and wide range of uses. Whether you're looking to expand your business, invest in new tools, or upgrade your fleet, the SBA 7(a) loan offers multiple benefits:
Longer Repayment Terms
Repayment terms for SBA 7(a) loans are flexible, ranging up to 10 years for general business needs and up to 25 years for real estate. You can prepay loans under 15 years without penalties. For longer loans, a prepayment penalty applies for paying off more than 25% in the first three years: 5% in the first year, 3% in the second, and 1% in the third. After this period, you’re free to repay without penalties, offering greater control.
Competitive Interest Rates
Benefit from the lower interest rates available with SBA 7(a) loans to reduce your overall financing expenses. The government’s guarantee allows us to offer rates that are more competitive than those from conventional 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 Specialty Trade?
Our flexible loan solutions help skilled trades businesses meet their most critical needs. Whether you're starting out, scaling up, or managing day-to-day operations, we provide the financial support you need.
Buy a Specialty Trade Business
Acquiring an established specialty trade business with an SBA 7(a) loan allows you to take over a company with skilled workers, existing contracts, and essential equipment. With flexible financing options and low down payments, you can secure ownership while preserving capital for operations and future growth. Unlock SBA Loan Options for Buying a Business
Start a Specialty Trade Business
Launching a specialty trade business—whether in electrical, plumbing, HVAC, or another skilled trade—requires funding for equipment, certifications, and marketing. An SBA 7(a) loan provides financing for startup costs, leasehold improvements, and working capital to help you establish a strong foundation. Learn How SBA Loans Support Startups
Buy Real Estate – Stop Leasing Your Workspace
Owning your workspace, warehouse, or office provides long-term stability, eliminates rising lease costs, and helps build equity in your business. An SBA 7(a) loan offers financing to purchase or renovate a property, giving you full control over your business location. See How SBA Loans Help You Buy Property
Working Capital
Managing cash flow is crucial for covering payroll, purchasing materials, and handling project expenses. An SBA 7(a) loan provides flexible working capital to help manage daily operations, fund new contracts, and navigate seasonal fluctuations. Find Out How SBA Loans Cover Daily Expenses
Debt Refinancing
Lowering your monthly payments and consolidating existing debt can help your specialty trade business improve cash flow and financial stability. An SBA 7(a) loan allows you to refinance high-interest business debt into a lower-rate, long-term loan, freeing up capital for equipment upgrades, hiring, and expansion. Discover Smart Ways to Refinance Business Debt
Solutions for Every Stage of Your Trade Career
Whether you're just launching your business, expanding, or preparing for the future, our SBA 7(a) loans provide the flexibility and capital to support you at any stage.