SBA 7(a) Loans

Ready to expand or improve your business? The SBA 7(a) Loan Program is the most popular small business loan because it provides funding up to $5 million, which can be used for a wide range of business projects and purchases.

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SBA 7(a) Loan Features:

  • Loans up to $5 million
  • Variable interest rates 
  • Longer repayment terms than traditional business loans
  • Fast access to your funds
  • Advanced technology
  • Personalized service

SBA 7(a) Loan Uses:

With your SBA 7(a) loan you can fund almost all your small business needs:

  • Increase cash flow
  • Purchase furniture, fixtures and supplies 
  • Buy equipment, machinery or materials 
  • Purchase real estate
  • Fund the construction or renovation of a building
  • Buy a business
  • Refinance existing debt
  • Hire employees
  • Support marketing costs

Traditional SBA Loan

As the most common SBA loan program, the traditional SBA 7(a) loan offers up to $5 million in funding to support nearly any business need—from purchasing equipment to expanding operations. While processing may take longer than other options, this loan provides lower interest rates, longer repayment terms, and the trusted guidance of our in-house SBA lending team—making it a smarter alternative to many online lenders.

Use For:

  • Working capital
  • Business acquisitions
  • Debt refinance
  • Inventory purchase
  • Equipment purchase
  • Purchase of owner-occupied commercial real estate

Why BayFirst?

For more than 20 years, we've been Here for What’s Next® for businesses in the Tampa Bay area and nationwide. As one of the nation's top lenders for SBA 7(a) loans, when you choose a loan from BayFirst, you get the powerful backing of a team that delivers fast and reliable funding, along with the personal guidance of our in-house experts. As an Small Business Preferred Lender, we're here to help you stay on track to reach your goals.

Simply put, we are one of the best places to get a small business loan.

FAQS

Eligibility depends on many factors including current and past business financials, your credit score, expected use of the loan and more. The best way to find out if you are eligible is to talk to an expert at BayFirst.

As with any loan, the stronger your credit, the greater your chance of qualifying. But there are other factors as well, so be sure to talk to an expert and review your current situation.

The SBA delegates certain lenders the authority to approve SBA loans on their own. Preferred lenders operate under the same 7(a) guaranteed loan guidelines as the SBA and can obtain a loan guarantee faster than lenders that are do not have Preferred Lender status – usually within 24 hours of their request.

SBA 7(a) loans are our the most flexible loan types, meaning you can use them for a variety of business expenses including remodeling, cash flow, merchandise and more.

Many types of franchises can be purchased with an SBA loan since they are privately owned. But be sure to talk to a lending expert to determine if your franchise would be eligible.

An SBA 504 loan can be used for only long-term projects such as buying a building, financing a new construction, or purchasing heavy machinery and equipment.  While an SBA 7(a) loan can also be used to purchase a building, it has a much wider array of use of proceeds, including short-term or long-term working capital, buying a business, refinancing business debt, or purchasing furniture, inventory and supplies.
*Funding time may vary.