SBA 7a Loan Requirements
The requirements and eligibility have been designed to assist in making the qualification process easy. The SBA 7a loan requirements will accommodate a wide variety of small businesses that need a capital injection.
Small business must meet some basic requirements:
- SBA 7a size standards
- The small business must be “for profit”
- Cannot provide internal funding
- Able to prove repayment of the SBA 7a loan
- Meet the SBA business type
SBA 7a Loan Requirements | Size Matters to the SBA
- The average number of employees over the previous 12 month period
- The sales volume averaged over the last 3 years
Your small business must meet the SBA 7a size requirements. Although the size of your small business matters to the SBA, there are always exceptions to the rule. The following is meant to be a guide. However, the SBA 7a loan has had changes to the size requirements due to current events and the resulting downturn in the economy. Check with your local SBA office for current eligibility requirements.
- Small business owners in the manufacturing industry no more the 499 employees
- The construction industry may have up to $17 million annually in sales
- A retail store with sales up to $21.5 million
- Wholesale businesses may have 100 employees
- Small businesses in the service sector may qualify with sales less than $7 million
Get the information you need about the SBA 7a Loan by visiting this center page
Want to know about the SBA 7a loan guarantee. visit this page.
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