An online SBA 7(a) loan calculator can’t give you the same insights as a loan expert with over 10 years of industry experience. In 15 minutes or less, a Madison One expert can determine if you may be eligible for an SBA 7(a) loan from our lending partners. Speak with a team member today to get the process started.
To secure an SBA 7(a) loan, business owners must demonstrate that they plan to use the funds for an eligible purpose, such as:
- Refinancing existing debt: If existing loan terms are affecting cash flow, businesses may be able to use an SBA 7(a) loan to consolidate debt.
- Purchasing real estate: Businesses planning to rent or buy a building or acquire land for business purposes may qualify for an SBA 7(a) loan.
- New construction or renovation: SBA funds can be used to build a new business facility or upgrade an existing building.
- Working capital: Some businesses may need to borrow funds for payroll, inventory, and other everyday expenses.
- Business acquisition or establishment: Prospective or current business owners may be able to borrow funds to establish or acquire a company.
- Equipment financing: Businesses may be able to use SBA funds to purchase machinery, furniture, vehicles, or other equipment that is critical to its operations.
If you’re unsure whether or not you could use a small business loan for your current needs, reach out to the Madison One team today.
SBA 7(a) loans are perfect for businesses in nearly any industry. Find yours to see how Madison One can help you solve your most frustrating financial challenges.