What are the 7(a) Loans?

7(a) Loans are offered by the Small Business Association (SBA), and are the most commonly offered loans by the SBA. The maximum amount offered is $5 million, and it is typically used for short-and long-term working capital, to refinance current debt, and to purchase assets/supplies. To qualify for a 7(a) loan, the business must be considered a small business, must operate in the USA, prove they actually need the loan and operate as a for-profit business.

For more information on 7(a) loans, visit the SBA website.