SBA Loans
If you are looking for a small loan with low-interest rates and extended repayment terms, an SBA Loan may be the right fit for you.
Guaranteed by the Small Business Administration, SBA Loans are backed by the government to provide capital protection and reduce lender risk. Many businesses seek working capital to cover business expansion, inventory costs, and more! These loans typically range from as low as $500 to up to $5.5M. There are three types of SBA Loans – 7(a), 504, and microloans.
Three types of SBA loans
7(a)
This loan is the SBA's main loan program offer. They are commonly used to purchase real estate but may also be used for working capital, debt refinancing, or the purchase of inventory supplies.
504
This loan provides capital for major fixed assets like existing infrastructures or land, new facilities, or long-term machinery and equipment. 504 loans should not be used for working capital, inventory, or other day-to-day uses.
Microloans
This loan is intended to assist small businesses at the beginning of their journey. These funds can be used for working capital, inventory, machinery, equipment, or other supplies needed to conduct business.
SBA loan FAQ
What is an SBA loan?
An SBA loan is backed by the U.S. Small Business Administration, which reduces lender risk. That backing typically means lower interest rates and longer repayment terms than conventional financing.
How much can I borrow with an SBA loan?
SBA loans generally range from as little as $500 up to $5.5M, depending on the program and your qualifications.
What are the different types of SBA loans?
There are three main types: 7(a) loans (the SBA’s primary program, often used for real estate, working capital, or refinancing), 504 loans (for major fixed assets like property and equipment), and microloans (smaller amounts for early-stage needs).
What can SBA loan funds be used for?
It depends on the program. 7(a) funds are flexible; 504 funds are for major fixed assets and should not be used for working capital or inventory; microloans can cover working capital, inventory, machinery, and supplies.
How long does an SBA loan take to fund?
SBA loans involve more documentation than our fast business loan products, so they typically take longer to fund. A Loan Specialist will walk you through the timeline and requirements for your situation.
Contact our Loan Specialists at Lendbull today and find the perfect fit for your business!
(877) 714-9550APPLY NOW