7(a) Small Business Loan

U.S. Small Business Administration in Loan/Loan Repayment
December 19, 2018

Overview

7(a) loans are the most basic and most used type loan of the Small Business Administration's (SBA) business loan programs. It's name comes from section 7(a) of the Small Business Act, which authorizes the agency to provide business loans to American small businesses. The loan program is designed to assist for-profit businesses that are not able to get other financing from other resources.

Administration

7(a) Small Business Loan is administered by U.S. Small Business Administration.

Program Requirements:

SBA provides loans to businesses - not individuals - so the requirements of eligibility are based on aspects of the business, not the owners. All businesses that are considered for financing under SBA's 7(a) loan program must: meet SBA size standards, be for-profit, not already have the internal resources (business or personal) to provide the financing, and be able to demonstrate repayment. Certain variations of SBA's 7(a) loan program may also require additional eligibility criteria. Special purpose programs will identify those additional criteria.

For more detailed eligibility requirements, please visit the 7(a) Loan Program Eligibility page.
 

Application Details

To apply, start with the 7(a) Loan Application Checklist page.

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