SBA 7(a) Loan Requirements

Businesses that are operated for a profit may qualify for SBA 7(a) financing if they meet specific standards for average number of employees or sales volume (averaged over a three year period). These standards are based on type of business. If your business falls into one of these categories, it may qualify for an SBA 7(a) loan:

  • Manufacturing: Up to 500 employees
  • Wholesaling: Up to 100 employees
  • Services: Annual sales up to $7 million
  • Retailing: Annual sales up to $21.5 million
  • Construction: Annual sales up to $17 million

Loan terms

SBA 7(a) loan terms are determined based on how you use the proceeds. The following list shows what loan terms may be available.

  • New building purchase: 25 years
  • Building improvements: 25 years
  • Mortgage refinance: 25 years
  • Machinery & equipment purchase: 10 - 20 years
  • Leasehold improvements: 10 years
  • Other debt refinance: 7 years
  • Inventory: 7 years
  • Working capital: 7 years
Note: All loans and lines of credit are subject to credit approval. Restrictions apply, see banker for details.