| SBA 7(a) LOAN
PROGRAM - Maximum Loan: $2,000,000
| Who is the Lender: |
Bank or Non-Bank Lender |
| Purpose: |
Can be used for most purposes including land, building,
equipment, inventory, working capital, vehicles, debt
refinance, and business acquisitions. |
| Structure: |
Bank or non-bank lender agrees to make a loan up to
$2,000,000 subject to SBA agreeing to up to 75% or $1,500,000
maximum. |
| Downpayment: |
Varies. Is established by the lender who is requesting
the guaranty. The typical is 10 to 20%. |
| Collateral: |
Unlike 504 where project collateral can stand for the
loan, 7(a) loans have to be secured if collateral is available
using liquidation values. |
| Terms/Rates/Fees: |
Bank sets rate. SBA charges a guaranty fee of: 2.0%
if loan is under $150,000; 3.0% if loan is between $150,000
and $700,000; 3.5% if loan is greater than $700,000; 3.75% on any SBA guaranteed amount over $1,000,000. Lender
must pay SBA a 1/2 of 1% monthly fee to SBA during the
life of the loan. |
| Contact: |
Your bank or visit www.sba.gov
for more info. |
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• CSRA
Business Lending now makes SBA-504 loans throughout Georgia.
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• Due to several
recent payoffs we have over $300,000 available in our Rural Loan Fund.
Click on Rural Loan Fund for info.
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• SBA 7(a)
Program maximum $2,000,000, maximum guarantee $1,500,000. Visit www.SBA.gov
for more info.
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