Loan program:7(a) loan

Loan size:$50,000 - $5 million

Interest rate: Based on the Prime Rate plus an adjuster

Maturity: 10 - 25 years (depending on the type of transaction)

Details of the 7(a) Loan Program. 

• Up to 25 years for real estate

• Up to 10 years for business acquisition, equipment

• 5-7 years for working capital

• Weighted average for mixed-use requests

• Purchase machinery, equipment, supplies, furniture, fixtures

• Make lease-hold improvements, expand or renovate facilities

• Purchase permanent working capital, inventory

• Acquire a business

• Start a business

• Acquire land and build a location

• Refinance certain existing debt

• Franchise Financing

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CDC/504 loan

$25,000 - $5.5 million

Fixed interest

• 20 years for real estate

• 10 years for equipment

• Purchase or renovate capital assets (land, buildings, equipment)

• Refinancing permitted