SMALL BUSINESS ADMINISTRATION (SBA) 7A LOANS
Silverthread Capital, LLC offers SBA 7A financing through our correspondent lender, ReadyCap Lending, an approved SBA lender. The Small Business Administration (SBA) is a United States government agency that provides support to small businesses.
SBA 7A loans are the most basic and most used type loan of SBA’s business loan programs. Its name comes from section 7A of the Small Business Act, which authorizes the Agency to provide business loans to American small businesses.
SBA 7A Loan Property Types:
• Loan size from $500,000 to $5,000,000
• Multi-purpose buildings – office, warehouse, retail
• Special-use properties – including hotels, restaurants, daycare, ALFs, executive mini suites, salons, RV parks
Use of SBA 7A Loan Proceeds
SBA 7A loan proceeds may be used to establish a new business or to assist in the operation, acquisition or expansion of an existing business. These may include (non-exclusive):
• To purchase land or buildings, to cover new construction as well as expansion or conversion of existing facilities;
• To acquire equipment, machinery, furniture, fixtures, supplies, or materials;
• For long term working capital including the payment of accounts payable and/or for the purchase of inventory;
• To refinance existing business indebtedness which is not already structured with reasonable terms and conditions;
• For short term working capital needs including: seasonal financing, contract performance, construction financing, export production, and for financing against existing inventory and receivable under special conditions; or
• To purchase an existing business.
All 7A loans are provided by SBA-approved lenders who choose to structure their own loans by SBA’s requirements and who apply and receive a guaranty from SBA on a portion of this loan.
Contact us for current rates or to learn more.
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