SBA 7a Loans
Borrow funds for nearly any business purpose: acquiring a business, expanding/renovating facilities, purchasing equipment, or increasing working capital. Small Business Administration (SBA) 7(A) loans are backed by the government and designed to meet a variety of your small business’ capital needs.
- The most basic and used SBA business loan
- Interest rate varies based on loan size, term and purpose
- Visit the SBA website for eligibility, terms and max loan amount
SBA 504 Loans
Small Business Administration (SBA) 504 loans are backed by the government and designed to provide long-term, fixed-rate financing for major fixed assets, such as buildings and equipment. Down payments as low as 10%.
- Interest rate depends on size, term, and use of proceeds
- Cannot be used for working capital, inventory, consolidating debt or repaying debt
- Operate as a for-profit
- Business net worth below $15 million
- Average net income of less than $5 million after federal income taxes for two years prior to application
- Other general eligibility standards apply
- Visit the South-Central Kansas Economic Development District (SCKEDD) website for additional eligibility, terms, and max loan amount
For more information e-mail Shawn Riley at firstname.lastname@example.org