Every business owner needs support. So, if you’ve identified a way more funds can improve any aspect of your business, getting an SBA 7(a) loan through a trusted financial institution like BayFirst could be your smartest move yet.
Still questioning how an SBA 7(a) loan can benefit your business? We’ve got some answers, and some of them may surprise you. You can use an SBA 7(a) loan to:
- Obtain short and long-term working capital if you need more funds to manage day-to-day expenses, purchase inventory or invest in future activities and growth.
- Purchase furniture, fixtures and supplies for office spaces, dining areas, storage rooms and more, provided they’ll have a direct benefit to the business.
- Buy equipment, machinery or materials used to create your product, provide your service or make your business run more efficiently.
- Purchase real estate, including land and buildings, whether you’re planning to buy your current location or move to a new one.
- Fund the construction of a new building or the renovation of an existing building, if you are looking to build a brand-new space or make improvements to the one you already own.
- Establish a new business, complete an acquisition, or expand an existing business for those ready to grow.
- Refinancing existing business debt. Under certain conditions, a 7(a) loan can be used to refinance debt if you’re having trouble meeting current loan terms or affording the payments.
- Hire employees, for owners who are short-staffed or need more employees to grow the business or make it run more smoothly.
- Support marketing costs. Could your business benefit from more or better exposure through advertising, branding or website improvements? An SBA 7(a) loan could help.
Ready to take your business to the next level? We are a top nationwide SBA 7(a) lender, which means we have what it takes to power your small business fast. And the process will be easy from start to finish. To find out if you qualify or to learn more about your options from a top SBA lender, call us today at 833.220.2792 or fill out the form below.
Si tiene alguna pregunta, por favor llame o visite un centro bancario local.