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FEDERAL
SBA 7(a) Loan Program for Aberdeen Businesses
Federal loan guarantees for Aberdeen small businesses seeking working capital, equipment, acquisition, or expansion financing.
About this program
The SBA 7(a) program helps small businesses access financing through participating lenders by providing federal loan guarantees. Aberdeen businesses can use 7(a) proceeds for working capital, equipment, inventory, acquisition, debt refinance, or eligible expansion costs.
Eligibility
For-profit small businesses operating in the United States that meet SBA size, use-of-proceeds, credit elsewhere, owner equity, and repayment requirements.
Requirements
- Apply through an SBA-approved lender
- Provide business financials, tax returns, business plan, collateral information, and use-of-funds documentation
- Meet SBA eligibility and lender repayment requirements