SBA Loans

.Step By Step Capitals SBA 7a Loan

  • SBA loans are U.S. government-backed financing options to support small businesses.

  • Facilitated by Step by Step Capital in partnership with SBA-approved lenders.

  • Designed to offer favorable terms for business growth and sustainability.

    SBA 7(a) Loan Details:

    • Loan Amounts: $25,000 to $5 million.

    • Uses: Working capital, equipment purchases, real estate acquisitions.

    • Interest Rates: Typically 7%–10%, depending on lender and market conditions.

    • Repayment Terms:

      • Up to 10 years for working capital.

      • Up to 25 years if Real estate is backed.

    Other SBA Loan Options:

    • SBA Express Loan:

      • Up to $500,000.

      • Fast Pre-Approvals (decisions within 48 hours).

    • CDC/504 Loan:

      • For major fixed assets (e.g., real estate, equipment).

      • Terms up to 25 years.

      • Partial financing from certified development companies.

  • Government Guarantee:

    • Covers up to 85% of loans under $150,000.

    • Covers up to 75% for larger loans.

    • Encourages lenders to approve businesses that may not qualify for conventional loans.

  • Eligibility:

    • Based on credit score, time in business, and cash flow.

    • Accessible to underserved businesses, including startups and those in disadvantaged areas (per SBA criteria).

  • Application Process:

    • Handled through Step by Step Capital and partnered SBA-approved lenders.

    • Involves preparing a business plan, gathering documentation, and meeting SBA guidelines.

    • Timeline: 30–90 days due to thorough evaluation.

    • Support: Step by Step Capital assists with documentation, application submission, and follow-up inquiries.

  • Key Benefits:

    • Lower interest rates compared to many conventional loans.

    • Extended repayment terms for affordability.

    • No prepayment penalties.

    • Supports long-term business success and growth.

  • Step by Step Capital’s Role:

    • Partners with clients to navigate the SBA loan process.

    • Offers hands-on support from application to approval.

    • Leverages expertise to tailor financing solutions for sustainable growth and reduced financial risk