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

BayFirst Bolt Loan: Our Fastest Funded Loan

This SBA 7(a) loan is our quickest and most popular small business loan. It provides up to $150,000 for working capital within days instead of weeks*, and without all the paperwork. With lower interest rates and longer repayment terms than alternative online lending products – plus the support of an in-house team of experts – Bolt loans are ideal for those with good personal and business credit scores and can be prequalified in hours.

Prequalify With:

  • Two years in business
  • 680+ credit score

Use For:

  • Working capital
  • Debt refinance
Get Started on your Bolt Loan Today

Small Balance Core Loan: Expedited Funding, More Uses

This SBA 7(a) loan provides solutions for a wider range of small business lending needs and promises fast funding. With flexible requirements, low interest rates, and the support of our dedicated team, a Small Balance Core loan can save you time and money when compared to other online lender alternatives.

Prequalify With:

  • Two years in business
  • 675+ credit score

Use For:

  • Working capital
  • Business acquisitions
  • Debt refinance
  • Inventory purchase
  • Equipment purchase
Get Started on your Small Balance Core Loan Today

Core Loan: Streamlined Process and Expert Guidance

This SBA 7(a) loan provides capital for almost all your small business needs – up to the $5 million SBA loan maximum. Though they can take longer to process than other SBA loans, Core loans deliver the funding you need to meet your biggest business goals and come with better terms than online lenders and the support of an expert, in-house team.

Prequalify With:

  • 0+ years in business
  • 650+ credit score

Use For:

  • Business acquisitions
  • Purchase of owner-occupied commercial real estate
  • Debt refinance
  • Working capital
Get Started On Your Core SBA Loan Today

What's Next? Get Started

Our streamlined processes and advanced technology make applying for your SBA 7(a) loan easy. Check out the SBA’s 7(a) Loan Checklist, collect all the documents you’ll need, then:

  • Apply

    Contact us to get started.

    Contact Us

  • Get Approved

    Find out how much you qualify for in days, not weeks.

  • Get to Work

    Start using your funds to grow your business.

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.

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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.