Important Articles
 

7a Multipurpose Loans

The 7a Loan is the SBA’s most popular loan program due to its low interest rates and long terms. Qualifying business owners can get as much as $5 million, and funds can be used for a myriad of purposes, including working capital, debt restructuring, and equipment purchase. Generally, 7a loans are 10 years for equipment and 7 years for working capital.

7a loans are very competitive, and the amount of paperwork can make them daunting. However, our SBA team is known for being able to reach a credit decision in as little as 10 days. Get the funding you need to take your business to the next level with a Sunwest SBA 7a Loan.

SBA 7(a) Multi-Purpose

  • Fully amortizing, generally up to 10 years
  • Variable rates indexed to Prime
  • Eligible Purposes:
    • Permanent working capital
    • Business acquisition
    • General debt restructuring
    • Equipment purchase or refinancing
    • Combination of purposes

Subject to Sunwest Bank’s Standard Approval and Underwriting Guidelines

SBA Paycheck Protection Program

The Paycheck Protection Program provides small businesses with funds. Up to 8 weeks of payroll costs including benefits.