SBA 7A Loans

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 $500,000 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