An SBA 7a Loan is a great tool for a business to use when considering purchasing, building or renovating owner-occupied commercial real estate. The SBA 7a Loan can also be used for non-real estate business only transactions, such as start-up, acquisition or expansion. With loan limits ranging from $350K to $5 Million, many business loan requests will fall into this range and 1st Commercial Lending is here to help.

An SBA 7a Loan can be used for the following:

  • Purchase, Remodel or Expand your business
  • Refinance or Consolidate business Debt
  • Purchase or Refinance Equipment Debt
  • Construct, Expand or Improve Commercial Real Estate
  • Purchase or Refinance Commercial Real Estate
  • Working capital needs

In order for your business to meet the eligibility requirements for a SBA 7a Loan, it must be for-profit and located in the United States with a net worth less than $15 Million and/or net income after taxes of less than $5 Million. If you are using the fund for real estate, you must occupy or plan to occupy 51% of the real estate as SBA funds are not for investment properties.

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Program Highlights

  • 640 minimum credit score
  • Loan amounts fROM $250k to $5 million
  • business must occupy 51% of the property
  • Interest rates start at prime + 1.50 (Currently 4.75%)
  • Low down payment - Up to 100% financing available
  • 25 year term with real estate / 10 year term business only

Guidelines:

Use of Proceeds

  • Real estate - purchase, construction, renovation or refinance of commercial real estate.
  • business Acquisition - business, franchise or professional business.
  • Machinery & Equipment - purchase or refinance.
  • Working Capital - up to $250K

Terms

  • business with Commercial Real Estate
    • Up to 100% financing
    • 25 year term
    • Prepayment penalty 5% 1st year, 3% 2nd Year, 1% 3rd year (allowed to pay up to 20% of principal yearly without penalty).
  • business Debt Non-Real Estate
    • Up to 100% financing
    • 10 year term
    • No prepayment penalty

SBA Guarantee Fee is paid directly to U.S. Small Business Administration and finance into the loan. Amount varies based on loan guarantee amount. Other customary fees also apply

All 7a loans are fully amortized and are assumable.

Loan Proposal Issued In 24-48 Hours Guaranteed!

At 1st Commercial Lending, we pride ourselves on guiding each client through the often challenging and confusing process of Dental business Financing. Our Dental business Loan Specialists have over 35 years of combined lending experience and will work with you to evaluate the financial feasibility of the opportunity you are considering.

To speak with one of our business loan advisors and learn more about the SBA 7(a) Loan program, call us TOLL FREE at (800) 341-6199 or click here to get started online.

What Our Clients Have To Say

  • 1st Commercial Lending helped me in finding the best terms that I was able to get from any lender, and then saw the process through all the way to closing the deal, capably answering all of my questions and concerns along the way.

    Of all of the lenders that I came across in this search, I found David to be the most knowledgeable and resourceful; he had thorough knowledge of his industry.

    If you have a need for financing the purchase of an agency I would highly recommend that you put 1st Commercial Lending on the "short list" of lenders that you need to give strong consideration to working with.

    Ron Tinnerman - Tinnerman Ins. Agency

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