What is a 7(a) loan? 

The 7(a) Loan Program, SBA’s primary business loan program, provides loan guaranties to lenders that allow them to provide financial help for small businesses with special requirements. 7(a) loans can be used for: 

• Acquiring, refinancing, or improving real estate and buildings

• Short- and long-term working capital 

• Refinancing current business debt 

• Purchasing and installation of machinery and equipment, including AI-related expenses

• Purchasing furniture, fixtures, and supplies 

• Changes of ownership (complete or partial)

• Multiple purpose loans, including any of the above

The maximum loan amount for a 7(a) loan is $5 million. Key eligibility factors are based on what the business does to receive its income, its credit history, and where the business operates. Your lender will help you figure out which type of loan is best suited for your needs.

Am I eligible?

To be eligible for 7(a) loan assistance, businesses must:

• Be an operating business.

• Operate for profit.

• Be located in the U.S.

• Be small under SBA Size Requirements

• Not be a type of ineligible business

• Not be able to obtain the desired credit on reasonable terms from non-Federal, non-State, and non-local government sources.

• Be creditworthy and demonstrate a reasonable ability to repay the loan.

Read more about Terms, conditions, and eligibility.