SBA Loans

Learn How SBA Loans Can Work for You

To be eligible for an SBA loan, a business is considered “small” if it has a maximum tangible net worth that is $15,000,000 or less, and average net income after taxes for the two full fiscal years before application for an SBA loan may not exceed $5,000,000.

  • Use funds from the 7A program to fund business acquisition, working capital, and lines of credit.
  • Funds from a 504 loan should be used to purchase, renovate, or construct owner-occupied real estate; to purchase capital equipment; and to make improvements on leased land (e.g., an owner-occupied building built on the leased land); and to refinance eligible debts.
  • Form the legal entities which will borrow/guarantee early in the process.
  • Have personal and business financial information ready when applying for your loans.
  • Have a well-drafted business plan which clearly tells the story of your business and why you are undertaking the project requiring SBA financing.

If your lender does not present SBA loans to you as an option for your financing, ask them if your project is eligible. If the project is eligible, ask them to include SBA financing among the options they are presenting.

Be sure the members of your team (banker, accountant, attorney) are familiar with the SBA, its programs, and their uses.

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