Types of 7(a) Loans

sba 7 (a) programs

Types of 7(a) Loans

The 7(a) loan program is SBA's primary program for providing financial assistance to small businesses. The terms and conditions, like the guaranty percentage and loan amount, may vary by the type of loan.

Maximum Loan Amount:        $5 million
LTV:                                               85% for loans up to $150,000
                                                       75% for loans greater than                                                              $150,000
Interest Rate:                             May not exceed the SBA                                                                  maximum
Eligibility Decision:                   By the SBA, qualified lenders                                                          may be granted delegated                                                               authority (PLP) to make                                                                    eligibilty determinations                                                                  without SBA review.
Revolving Lines of Credit:      Up to 10 years
SBA Turnaround:                      5-10 business days
Forms:                                          SBA Form 1919 and SBA 1920                                                         are required for every loan                                                              (other SBA Forms may be                                                                required)