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Loan type. Maximum loan amount. Maximum guarantee. SBA turnaround time. Purpose. 7(a) loan. $5 million. 75%. 5 to 10 business days. Working capital, equipment, supplies purchases, real estate ...
Offers quick access to smaller loan amounts. Up to 7 years. Up to $500,000. ... loans, maximum rates range from 13.50 percent for amounts over $250,000 to 16.50 percent for loans of $25,000 or ...
Loan amount. Up to $5 million. Maximum SBA guarantee. 85% of loans under $150,000, 75% for loans over $150,000. Interest rates. Cannot exceed SBA set maximum. Repayment terms.
SBA loan type. Description. Average loan amount in 2023. Maximum loan amount. Standard 7(a) Can be used for nearly all purposes, including working capital, payroll, expansion and equipment.
Works much like a credit card — can be used and reused once the amount borrowed is paid back. SBA 7 (a) loan. Up to $5 million. ... SBA loans usually have specific collateral requirements ...
There are three partners in an SBA 504 loan—the borrower, a bank or other regulated lender, and a CDC. Typically the borrower must contribute 10% of the total project cost; their bank lends 50% at their own rate and term (as long as the term is at least 10 years), and has a first lien on the assets being financed; and the CDC lends 40%, with a second lien.
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