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SBA 7A Loans

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What is an SBA 7A Loan?

The U.S. Small Business Administration (SBA) is a federal agency committed to furthering the growth and development of small businesses. One of the ways it does this is by guaranteeing loans to small businesses made through lending partners like State Bank of Southern Utah. The SBA does not supply the funding to small businesses, but instead sets guidelines for the loans and provides a guarantee for the lender. These loans provide more flexibility in the lending process allowing small businesses access to credit when traditional or conventional financing may not be available. Contact a Loan Officer and put our expertise to work for you.

Use of Proceeds

SBA Loans can be used to finance a wide variety of business needs but are typically used for the following:

  • Purchasing equipment
  • Business startup or expansion
  • Business acquisitions
  • Purchasing inventory
  • Purchasing Real Estate
  • New Construction
  • Renovating an existing building
  • Lease hold improvements
  • Debt refinancing
  • Working capital

Key Terms and Benefits

SBA 7A SBA Express
  • Most Flexible: Can be used for nearly any business need
  • Loan Amounts: Up to $5,000,000
  • Maximum Term: 7-10 Years for Equipment and Working Capital, up to 25 Years for Real Estate
  • Competitive Interest Rates
  • Streamlined Processing: Quicker approvals with less paperwork
  • Loan Amounts: Up to $350,000
  • Maximum Term: 7-10 Years for Equipment and Working Capital, 20-25 Years for Real Estate
  • Structure: Offered as a Term Loan or Revolving Line of Credit
Sub-Programs
  • Export Express Loans: Up to $500,000 for borrowers looking to enter into or expand an existing foreign market.

*SBA Loans are subject to SBA Eligibility and Credit Approval