The 7(a) loan program is SBA's primary program for providing financial assistance to small businesses. The terms and conditions, like the guaranty percentage and loan amount, may vary by the type of loan.
Maximum Loan Amount: $5 million
LTV: 85% for loans up to $150,000
75% for loans greater than $150,000
Interest Rate: May not exceed the SBA maximum
Eligibility Decision: By the SBA, qualified lenders may be granted delegated authority (PLP) to make eligibilty determinations without SBA review.
Revolving Lines of Credit: Up to 10 years
SBA Turnaround: 5-10 business days
Forms: SBA Form 1919 and SBA 1920 are required for every loan (other SBA Forms may be required)