SBA 7(a) Loans
While you can choose to earmark funds toward purchasing land or buildings, you can also use a 7(a) loan for business renovations, building out a leased property, capital expenditures like meeting payroll expenses, and to help with everyday operating costs.
The funds from an SBA 7(a) loan can be put toward any of the following uses:
- Expand, acquire, or start a business
- Purchase or construct real estate
- Refinance existing business debt
- Buy equipment
- Provide working capital
- Construct leasehold improvements
- Purchase inventory
- Working capital
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