SBA 7(a) Loans
Loans Up To
$5,000,000
Flexible Use of Funds
Terms Up To
25 Years
No Prepayment Penalty Under 15 Years
Lending
Nationwide
Lending in All 50 States
Use of Funds:
Benefits of SBA 7(a) Financing:
- Financing up to $5 Million
-
Longer repayment terms than many conventional loan options
-
Flexible use of funds for real estate, equipment, and working capital
-
Competitive interest rates
-
Available for a variety of business growth and expansion needs
-
Backed by the SBA to help expand financing opportunities for eligible businesses
We are part of the Preferred SBA Lender Program
- As an SBA Preferred Lender, we are approved to offer SBA loan products under SBA’s Preferred Lender Program
- Our Preferred Lender status allows us to underwrite, approve, and service SBA‑guaranteed loans in‑house, reducing the need for separate SBA review.
- We are responsible for ensuring each loan meets SBA eligibility and program guidelines, providing a more efficient and informed lending process.
- Working with a Preferred Lender can help simplify the SBA loan process by minimizing administrative steps while maintaining full compliance with SBA regulations
Frequently Asked Questions about our SBA Loans
What is an SBA loan?
An SBA loan is a form of government guaranteed financing designed to help small businesses grow. Backed by the U.S. Small Business Administration, these loans typically offer longer terms, lower down payments, and flexible use of funds compared to traditional financing.
Who is eligible for an SBA 7(a) loan?
Applicants must operate a for-profit U.S. business that meets SBA ownership requirements, including U.S. citizen ownership and control, and whose owners have a minimum FICO score of 650. Additional SBA eligibility standards and Shoreham Bank underwriting requirements apply.
Do you only lend in Rhode Island and Southeastern Massachusetts?
We provide SBA financing nationwide, but our team is based in Warwick Rhode Island and works closely with business owners throughout Rhode Island and Southeastern Massachusetts.
How can SBA loans be used?
SBA loans are flexible and can be used for many business needs, including:
- Purchasing or refinancing commercial real estate
- Buying equipment or inventory
- Funding business expansion or renovations
- Supporting working capital needs
- And more
Is the SBA loan process complicated?
It can be, but that’s where we come in. Our experienced local SBA team guides you through each step, manages the paperwork, and handles the heavy lifting to make the process as smooth and straightforward as possible.