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How Small Businesses Can Secure SBA 7(a) Loans

How Small Businesses Can Secure SBA 7(a) Loans

If you have a business, you need working capital. Whether you’re just starting out or have been in business for years, a Fountainhead SBA 7(a) loan can help you get the funds you need to keep your operations running smoothly.

What is an SBA loan?

It’s a loan guaranteed by the Small Business Administration (SBA) and made by lenders like Fountainhead.

What Types of Businesses Are Eligible for SBA 7(a) Loans?

The vast majority of all privately held, for-profit businesses are eligible for an SBA loan.  They can be any of these entity types:

  • Sole proprietorships
  • Partnerships (general or limited)
  • Subchapter S corporations (S-corps)
  • Limited Liability Companies (LLC’s)

Get the Working Capital Your Business Needs to Run

The SBA 7(a) loan has many benefits that make it better than other forms of financing, like an ordinary conventional bank loan. The primary purpose of Fountainhead SBA 7(a) loans is to help small businesses with the working capital they need to grow, and you can use them for a variety of purposes, including:

  • Refinancing business debt
  • Supporting new equipment or facilities
  • Growing a business’s customer and/or employee base
  • Financing inventory
  • Paying for research and development

The SBA 7(a) loan product is an excellent option because it offers low down payments (often only 10%), longer terms, low-interest rates, and there are minimal lender closing costs associated with the loan. These benefits provide flexible repayment options to help fit anyone’s budget and requirements!

How to Find an SBA 7(a) Lender

You’ve come to the right place if you’re looking for an SBA 7(a) loan.

Fountainhead is an SBA-approved lender (with Preferred Lending Partner or PLP designation, so SBA allows us to make our own fast credit decisions) specializing in small business loans and working capital funding. We can help you get the money you need to grow and thrive without the hassle of dealing with banks, credit unions, or other lenders.

Benefits of Working with a Specialized Lender

Working with a specialized lender (like Fountainhead) can be an incredible asset for your small business.

Here are five reasons why:

  1. We have tremendous experience with small business financing (over 300 years, collectively as a team), so we know what information you need and how to give you the best advice.
  2. We can help you get funding quickly and efficiently, saving you time and energy.
  3. We know what kinds of working capital loans are available to businesses like yours, so we can help you find the right fit for your needs.
  4. We offer top-notch customer service, so if you have any questions or concerns about your loan application, we’ll be there to help!
  5. We know how to help you meet your goals, and the best way is by having us involved at every stage of the process: from assessing risk factors and offering advice on how to improve them before applying for a loan, to providing ongoing support throughout the repayment of your loan.

Takeaway

SBA 7(a) loans are the most versatile and popular loans, providing your business with the working capital it needs to grow.

Whether you need financing for a new or existing business, SBA 7(a) loans can help. We’ve helped thousands of small businesses grow — let us help yours today!