Apply for SBA Loans - 504 & 7(a)
Gov. Backed Loans for Starting or Expanding Your Business
- 24-48hr Funding Approvals
- Refinance Existing Business Debt
- Loan Terms up to 25yrs
- Government Backed Funds
Qualifications for SBA Loans
Minimum 2 Years in Business
$120,000 in Annual Gross Sales
675+Minimum FICO to Qualify
What are SBA Loans?
Government-backed financing designed to help eligible businesses start, acquire, or expand. SBA loans typically offer larger funding amounts and longer repayment terms for qualified borrowers.
How Business Owners Use Their SBA Loans
Fund Business Expansion
SBA loans can be used to support major growth plans, including opening a new location, expanding services, purchasing equipment, or increasing operational capacity. They are often used by established businesses seeking structured financing.
Purchase Equipment or Inventory
Businesses may use SBA loan proceeds to buy equipment, inventory, fixtures, furniture, or other assets needed for operations. This can help support long-term growth without relying entirely on cash reserves.
Acquire or Improve a Business
SBA financing may help eligible borrowers purchase an existing business, buy owner-occupied commercial real estate, or make improvements to a business location. This makes it a flexible option for larger business investments.
SBA Loans 504 vs. 7(a) What's The Difference?
Feature
SBA 504
SBA 7(a)
Best For
Flexible Financing
Fixed assets and long-term projects
Common uses
Working capital, equipment, real estate, refinancing, acquisition
Real estate, construction, major equipment, facility improvements
Structure
Broad-use SBA loan program
Long-term fixed-asset financing
Fit
Businesses needing flexibility
Businesses focused on property or equipment investment
To Learn more about the Small Business Administrations Government -backed SBA Loan programs, vist the official site at sba.gov
View Other Loan Options
A business line of credit gives your company access to a revolving source of capital that can be used as needed. It can help manage cash flow, handle operating expenses, and provide quick access to funds when new business opportunities arise.
- $10,000-$5,000,000
- 6 Mnths.- 10yr terms
- Funding in 1-3 days
Receive upfront capital based on future sales, with repayment typically tied to a percentage of daily credit card or business revenue. This can be useful for fast access to cash when traditional loan structures are not the best fit
- $10,000-$5,000,000
- 6 Mnths- 10yr terms
- Funding in 1-3 days
Use outstanding customer invoices for a cash infusion instead of waiting 30, 60, or 90 days for payment. This option can help improve cash flow while using unpaid invoices as the basis for funding.
- $100K+ aged-90 days
- 6 Months - 10yr terms
- Funding in 2-5 days
Financing or leasing options that help businesses purchase essential equipment, machinery, technology, furniture, or other tangible assets without paying the full cost upfront.
- $10,000 - $5,000,000
- 1yr - 6yr terms
- Funding in 2-5 days
Government-backed financing designed to help eligible businesses start, acquire, or expand. SBA loans typically offer larger funding amounts and longer repayment terms for qualified borrowers.
- $10,000-$5,000,000
- 10yr- 25yr terms
- Funding in 35-45 days
Funding for properties used to generate business income, including multifamily, mixed-use, office, retail, industrial, warehouse, and other commercial property types.
- $250,000-$10,000,000
- 10yr - 30y terms
- Funding in 25-40 days
Frequently Asked Questions About SBA Loans
What can an SBA loan be used for?
SBA Loans can be used to fun business expansion, purchase equipment or inventory, an acquire or improve a business.
Can an SBA loan be used to refinance business debt?
Yes. SBA loans may be used to refinance certain existing business debt, depending on the loan program, lender guidelines, and the purpose of the refinance.
How fast can an SBA loan be approved?
Approval timing varies by lender, documentation, and loan type. Some programs may offer initial approval in 24 to 48 hours, although full funding may take longer.
What industries commonly use SBA loans?
SBA loans are commonly used by construction and contracting companies, hospitality businesses, retail businesses, healthcare businesses, and many other eligible small businesses.
What is a business debt schedule?
A business debt schedule is a document that lists current business debts, including lender names, balances, monthly payments, interest rates, and maturity dates. It helps lenders evaluate existing obligations.
Can SBA loans be used by healthcare businesses?
Yes. Eligible healthcare businesses may use SBA loans for expansion, equipment, working capital, debt refinancing, real estate, or other approved business purposes.
About WGM Financial
WGM Financial is a business financing resource and loan portal that helps business owners review funding options based on their business need, use of funds, timeline, and repayment ability. The site provides educational resources and access to business financing options, including working capital, business lines of credit, equipment financing, accounts receivable financing, SBA loans, commercial real estate financing, healthcare business loans, trucking business loans, and manufacturing financing.
WGM Financial is owned and operated by WGM Direct Marketing, LLC. Financing options are subject to lender review, underwriting, borrower qualifications, and final approval.