Skip to main content
_FB_2018-Icons-finalized-cleaned-up_new_FB_2018-Icons-finalized-cleaned-up_newGroup 9
Find Your Local Branch
Back
Scroll to top

SBA 7(a) Loan

Expand on your dreams for your business.
Find An Expert
A business owner using a tablet in a flower shop

Our team can help small businesses like yours get government-sponsored loans.

Access capital from the Small Business Administration (SBA) to meet the short- and long-term needs of your business.

Perfect for you if:
  • You’re expanding a business
  • You’re making an acquisition or buying out a partner
  • You need flexibility on terms and uses

Loan Features

  • Up to $5 million
  • Loan terms up to 25 years
  • No balloon payments
  • Flexible terms and requirements
  • Up to 100% financing for rent
    replacement commercial real estate

Terms

  • 10-year maximum for business acquisition with no real estate
  • 15-year maximum for machinery and equipment
  • 25-year maximum for real estate if 51% or more of the loan is allocated to it

Loan Purpose

Whether you’re a new business owner or looking to expand operations, the proceeds from SBA 7(a) loans can help fund almost any aspect of development:

  • Acquire another business
  • Purchase owner-user real estate
  • Expand a business
  • Buy equipment and inventory
  • Obtain working capital
  • Buyout a partner

Eligibility

  • Meet the SBA definition of a small business and use the funds for an eligible and sound business purpose
  • Be engaged in, or planning to do business in, the United States
  • Operate for profit and demonstrate a need for a loan
  • Have reasonable invested equity
  • Use alternative financial resources, including personal assets, before seeking financial assistance
  • Not be delinquent on any existing debt obligations to the U.S. government

Gather what you need to start the process.

Personal and business tax returns for the past three years
Purchase contract for acquisition or copies of notes to refinance
Year-to-date financials for the business
Business plan or projections for an expansion

Ready to get started?

An ipad with FB advisors on the screen

Talk With Your First Bank SBA Expert

Build your business with our trusted expertise.
Get Started

Approved to offer SBA loan products under SBA’s Preferred Lender programs. Loans subject to credit approval.

You may be interested in…

Image
How to Build Business Credit as a New Business: A Step-by-Step Guide

1. Establish Your Business Plan Creating a business plan is the first step when starting a business. It serves as a roadmap, outlining your goals,…

6 min read
Image
How a Business Credit Card Can Transform Cash Flow Management for Your Business

Cash flow is the lifeblood of any business, and managing it effectively is crucial for long-term success. Whether you’re running a growing…

6 min read
Image
Why Good Business Credit is Essential for the Success of your Business

1. Better Financing Options When your business has strong credit, it becomes easier to secure loans, lines of credit, and other forms of financing….

4 min read
Not the right SBA loan for your business?
View All

Featured Articles

How Embracing Technology Can Help Your Small Business Thrive

Small business owners are some of the hardest working people around. But working hard and working smart is not always the same thing.

Best Business Checking Account in South Carolina

If you’re planning to open a business in South Carolina, you will need a business checking account. If you already own a business but are looking to switch banks, you’ll want the best business checking account. Business...

Small Business Loans Made Easy – First Bank of North Carolina

North Carolina is a smart choice for any entrepreneur looking to start a business. The state encourages its residents and visitors to shop local. Organizations like Shop Local Raleigh and Got To Be NC have popped up all...

Where to Get Commercial Mortgage Rates

Location, location, location. The value of location is just as important for commercial success as it is for where to get commercial mortgage rates. The wrong rates can lead your business off the beaten path while...

Hurricane Helene Recovery: Financial Assistance Options

1. U.S. Small Business Administration (SBA) Disaster Loans The SBA offers a range of disaster loans to individuals, businesses, and nonprofit organizations to cover losses not covered by insurance or FEMA. These loans help...

ACH Positive Pay

If you are a business owner, you should spend your time worrying about growing a successful business, not worrying about fraudulent transactions. That’s where ACH Positive Pay comes in. What is ACH Positive Pay? We’re glad...

Social Media Strategies for Small Business

Today, people spend 27% of their time online on social networks, according to Experian. If you own or work for a small business, social media can be a valuable tool.

Business Spotlight: Pine Knot Farms

Pine Knot Farms has been in Stanley Hughes' family for over 100 years. He tells us his story and how organic agriculture has never been more important.

Thinking of Sponsoring a Local Event?

Event sponsorships can be great when they’re done for all the right reasons. But it helps to evaluate all of these opportunities and offers before making any commitments to move forward.

3 Major Factors of a Small Business Credit Card Comparison

Conducting a small business credit card comparison can be a useful tool when looking for resources that can help your company. But there are many credit card options available to entrepreneurs, which can make it difficult...