How funding works

• Borrowers must satisfy both SBA eligibility guidelines and the lender’s specific loan criteria
   

• SBA usually processes applications within 5 to 10 business days after submission
   

• Businesses can receive up to $5 million in SBA-backed financing
   

• ​Repayment terms depend on the use of funds—up to 25 years for real estate and 10 years for equipment
   

Rates are based on

• SBA loan rates are tied to the Market Prime Rate (MPR)
   

• Your rate will depend on the loan amount and repayment term
   

• Lenders consider how long your business has been operating
   

• Creditworthiness, profitability, and current debt levels all impact your rate

Ask Yourself

• Have you clearly identified how you’ll use the SBA 7(a) loan funds?
   

• Is your timeline flexible, or do you need capital urgently?
   

• Are there current liabilities or loans on your financial records?