Steven L. White and Dominick Davis, DIFFERENTREGARD, Baltimore, MD
The government-backed SBA 7(a) Loan Program provides competitive interest rates, longer term options, low down payments, short prepayment options, and flexible overhead requirements.
SBA 7(a) Program
As a non-bank SBA Lender, or Small Business Lending Company, Lendistry SBLC, LLC offers the SBA 7(a) loan program. This program provides qualified* small business owners nationwide with the flexible funding they need to: increase working capital, expand a business, refinance current debt, purchase equipment or inventory, acquire commercial real estate and more.
Loan Amount: $50,000 – $5 million
Loan Term: Up to 25 years for real estate and up to 10 years for other purposes
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* Business qualifications: To qualify for an SBA 7(a) loan, businesses must meet the minimum following SBA requirements:
- Operate for profit and be considered a small business, as defined by the SBA
- Be engaged in, or propose to do business in, the U.S. or its territories
- Have reasonable invested equity
- Use alternative financial resources, including personal assets, before seeking financial assistance
- Be able to demonstrate a need for a loan and that the funds will be used for a sound business purpose
- Not be delinquent on any existing debt obligations to the U.S. government
- Commercial Real Estate Property must be 51% owner occupied (based on rental square footage determined by an appraiser)
Lendistry SBLC, LLC is approved to offer SBA loan products under SBA’s 7(a) Lender Program.