Small Business Loans: SBA Advantage Loans 7(a) SBA Advantage Loans include financial help for businesses with special requirements.
- Loan Program Eligibility SBA provides loans to businesses; so the requirements of eligibility are based on specific aspects of the business and its principals.
- Use of Loan Proceeds If you are awarded a 7(a) loan, the loan proceeds may be used to establish a new business or to assist in the acquisition, operation, or expansion of an existing business.
- Loan Amounts, Fees & Interest Rates The specific terms of SBA loans are negotiated between a borrower and an SBA-approved lender. In general, the following provisions apply to all SBA 7(a) loans.
- Loan Application Checklist The specific terms of SBA loans are negotiated between a borrower and an SBA-approved lender. In general, the following provisions apply to all SBA 7(a) loans.
- Loan Processing Time There are two 7(a) loan process options with different time frames. In addition to standard procedures, SBA Express processing offers an expedited turnaround.
- Special Types of Advantage Loans SBA offers several special purpose loans to aid businesses that have been impacted by NAFTA, provide financial assistance to Employee Stock Ownership Plans, and help implement pollution controls.