What Is the SBA 7(a) Loan Interest Rate? (Updated Daily) | SBA 7(a) Loans (2024)
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The maximum term lengths for SBA 7(a) loans typically depend on the use of loan proceeds: 25 years for real estate. 10 years for equipment. 10 years for working capital or inventory loans.
The maximum term lengths for SBA 7(a) loans typically depend on the use of loan proceeds: 25 years for real estate. 10 years for equipment. 10 years for working capital or inventory loans.
For the lender, the regular 7(a) loan program can provide as much as an 85 percent guaranty for loans of $150,000 or less, and as much as a 75 percent guaranty for larger loans. The maximum 7(a) loan amount is $5 million. There is no minimum loan amount.
Do SBA loans require a down payment? Yes, the minimum SBA loan down payment requirement is 10% for 7(a) and 504 loans, although this amount can vary based on a business's cash flow and collateral. For example, weak cash flow or low-value collateral can increase the down payment requirement to 30% of the loan amount.
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