SBA 7(a)
Come experience the Ready Capital difference. We close SBA 7(a) loans that other lenders can’t, working with a range of credit scores and financing challenges nationwide.
Overview
As a non-bank, SBA Preferred Lender, Ready Capital provides creative loan solutions to help business owners grow and expand their companies. We think outside of the box to close more deals, including the most complex scenarios.
Delivering over $1.6 billion in capital, it’s no surprise that we’re the #4 SBA Preferred Lender in the U.S.
Business operating loans
We provide SBA loans that can be used to help finance the everyday operations of a company as well as plans for future growth, such as:
- Business acquisition and expansion
- Machinery and equipment purchase
- Partner and/or shareholder buy-out
- Refinance existing business debt
- Franchise acquisition
- Working capital
- Startup professional services business
Commercial real estate loans
Business owners may want to consider SBA loans for other purposes, including:
-
Owner Occupied/Utilized >51%*
- Purchase fixed assets (land, buildings, equipment)
- Refinance existing mortgage secured debt
- Ground-up construction and renovation
- Leasehold acquisition and improvements
* Includes retail, manufacturing, industrial, warehouse, professional offices (including office condominiums), hotels, healthcare facilities, car dealerships, auto repair shops, car washes, self-storage, parking garages, special use, multi-use.
SBA 7(a) Highlights
- Loans from $350,000 to $7,000,000*
- Loan terms up to 25 years
- Low borrower equity required
- Wide use of loan proceeds
- Limited/No prepayment penalties
- Closing costs may be financed
* Loans between $5 million and $7 million financed with Pari Passu loans. Loans under $350,000 financed through our iBusiness technology platform. These loans are made pursuant to the SBA 7(a) Small Balance and Express programs. Loans over $7,000,000 may be funded pursuant to our USDA B&I license. In either case, loan terms vary by loan program, borrower eligibility, loan amount, and other factors.
About Ready Capital
Why an SBA 7(a) loan from Ready Capital
Ready Capital is your trusted partner for small business loans.
Here’s why brokers and business owners think we’re different.
Publicly Traded
Listed on the New York Stock Exchange (NYSE:RC), non-bank, non-depository
SBA Preferred Lender
Ready Capital is the #4 SBA Preferred Lender in the U.S.
Flexible Lending
More flexible lending box delivers more successes
Nationwide Coverage
Lends in all 50 states and has delivered over $1.6B in capital
Systematic Process
Provides fast eligibility screening, prequalification, and term sheets
Rapid Execution
Approval process focused on speed, dependability, and transparency
Dedicated Service
A dedicated Ready Capital representative shepherds each transaction
Regular Outreach
A communication-rich customer experience
Have a question about SBA 7(a) Loans?
FAQs
What is an SBA 7(a) loan and what is it used for?
Answer: A Small Business Administration (SBA) loan is a loan intended for borrowers who can’t get financing on reasonable terms elsewhere. It covers small business acquisition, owner-occupied commercial real estate purchase, equipment purchase, refinance of existing debt, and working capital.
Learn more about how SBA loans work.
How hard is it to get approved for an SBA 7(a) loan?
Answer: The SBA has its own criteria for borrowers, but small business lenders may have additional criteria. One thing we like to remind borrowers of is that there is no minimum credit score for an SBA loan.
What is the SBA 7(a) loan limit?
Answer: The maximum for most SBA 7(a) loans is $5 million (minimum of $350,000). However, Ready Capital is licensed in most U.S. states to augment SBA loans with Pari Passu (up to $7 million) or USDA B&I loans (up to $10 million) where applicable and advantageous.
How long is an SBA 7(a) loan limit?
Answer: The terms of an SBA loan extend up to 25 years.
SBA 7(a) vs SBA 504: Which is best for me?
Answer: The SBA 504 loan and the SBA 7(a) loan are both suitable for owner-occupied real estate. In reality, the SBA 7(a) loan has several lesser-known advantages, particularly when paired with a Preferred Lending Partner (PLP).
Read our “SBA 7(a) vs SBA 504” article to get the full details.
Get Started
Apply for a Ready Capital SBA 7(a) loan
Click the appropriate loan amount below to be directed to the application process. It takes less than 3 minutes and will not affect your credit score.
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Case Studies
SBA 7(a) Spotlight Deals
Unlock your business potential with an SBA 7(a) loan – the key to growth and success.
Discover how other clients across the U.S. were able to secure flexible funding
that resulted in success for their business.
