SBA Loan Programs

The following are some of the more popular types of SBA loan guaranty programs available to both start-up businesses and existing businesses.

Basic 7 (a) Loan Guaranty

This is the SBA’s most flexible business loan program. The 7 (a) serves as the SBA’s primarybusiness loan program to help qualified small businesses obtain financing. Loan proceeds can be used for most business purposes including working capital, machinery, equipment, furniture and fixtures. The typical borrower is an existing business.

Microloan 7(m) Loan Program

This program provides short term loans for up to $35,000.00 to small businesses and not-for-profit child care centers for working capital or the purchase of inventory supplies, furniture, fixtures, equipment or machinery. Small businesses must apply directly to one of the SBA’s local intermediary lenders: REDC, New Visions or New Ventures.

SBA Express, Patriot Express, Community Express

Participating banks use their documents and procedures to approve and service loans. This loan program makes it easier and faster for selected lenders to provide small business loans up to $35,000 or less

504 Loan Program

Provides long term fixed rate financing to small business to acquire real estate, machinery or equipment for expansion or modernization.  Restricted to for-profit businesses. For more information on these programs, see SBA Loan Programs.

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