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SBA 7(a) loans. SBA 7(a) loans have loan amounts of up to $5 million and repayment terms of up to 10 years when used for working capital. It can take up to 90 days to receive funds, but the capped ...
Type of SBA loan. Description. 7(a) loan. Most popular SBA loan, used for general purposes, including working capital, equipment and real estate. 504 loan
Bank of America. Line of credit, Term loan. Option for unsecured lines of credit with lower annual revenue of $100,000. Low annual revenue requirement of $50,000 for cash secured line of credit
Bankrate insight. As of March 27, 2024, over $12.9 billion in 7(a) loans and over $3 billion in 504 loans have been approved so far. Of those approvals, 16.1 percent of 7(a) applications and 15.9 ...
Here are some of our top lenders for equipment loans: Best equipment loan for startups: Creditfy. Best equipment loan with low revenue: Funding Circle. Best equipment loan for large amounts: SMB ...
Bankrate insight. SBA loans can be an affordable type of debt financing for startups. So far, in fiscal year 2024, SBA-approved lenders have approved $3.4 billion in SBA 7(a) loans for startups ...
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