Financing Calculator & Examples
The straightforward requirements for the SBA 7(a) loan make it a great starting point to get funding for your business. Plus, the low interest rates and relatively fast approval process make it a prime option for retail, medical clinic, and restaurant owners.
Once a loan is approved, we are experts in the most efficient way to allocate that capital and realize the largest return on your investment.
Versatility is a good attribute to seek in a loan program, and the SBA 7(a) is full of it. You can use the loan to buy an existing store, medical clinic, or restaurant, replace or repair equipment, or even cover regular material expenses. Here’s a closer look at what you can use the SBA 7(a) for:
Equipment: This includes big, infrequent purchases like specific medical devices needed or exam room equipment like x-ray machines, MRI scanners, Defibrillators, EKG/ECG Machines or stretchers for medical office clinics. For restaurants this could include ovens, ranges, fryers, and freezers, as well as smaller, regular expenses like utensils, bar rags, and dish towels. Call us Today to learn more about How Can You Use the SBA 7(a) Loan for Equipment
Land and real estate: Whether you’re renting space, buying a building, or planning new construction on vacant land, you can use the SBA 7(a) loan to help pay for the physical space your retail store, medical clinic, or restaurant occupies.
Repairing existing capital: This could include new point-of-sale systems or software upgrades to existing ones, commercial vehicle repairs, or any other operating equipment that needs updating.
Build-to-Suit Development Financing
In a build-to-suit development transaction, we will finance and fund the costs of the development and construction of your new facility or the expansion of an existing one to meet your exact specifications. Upon completion, you as the tenant enter into a long-term net lease while maintaining full operational control your new custom-built facility.
Our Build to Suit construction and development financing loans can fund up to 100% of project costs. This includes Ground-up projects including the land purchase and all direct project costs including both soft costs such as architectural design and engineering costs and hard costs such as construction, equipment and fixtures.
Ready to expand or remodel?
Tenant Improvement Financing
It's a big decision. Relax, we are here to help you every step of the way.
The professional and financial rewards of expanding or remodeling your business or practice can be well worth the effort. Our Financial partners offer:
There are numerous funding and financing options available for commercial real estate development, construction, tenant improvements or new equipment needed that are available to businesses of all sizes. These are here to help businesses expand operations or open a new facility.
We are here to help guide you through the process and take care of all necessary documents to speed up the timelines to get you funded quicker so you can focus on your core business.
Our Financing Partners
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The key strength of SCGWest is the quality of the individual team members and the ability to form a team perfectly suited to any project with knowledge, competency, and experience unrivaled by our competitors.
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Small Business Administration (SBA) Loan Options
One of the most popular loans for small businesses and new locations is the SBA 7(a) loan. The SBA 7(a) is a commercial loan and is meant to help small businesses with expenses like real estate, working capital, or equipment. Like all loan programs, there are requisites that retail stores, medical clinics, and restaurants must meet to be considered eligible.
Businesses in the U.S. that are looking for funding can get the SBA 7(a) loan from a bank, credit union, or other lending institution, and the government guarantees the money up to a certain amount.
The SBA 7(a) isn’t the only option available to business owners; here are a couple of SBA loan products that might meet your requirements more closely:
SBA 504 Loan – Similar in execution to the SBA 7(a), the 504 loan is a larger loan that usually goes with a commercial loan from a bank or other lending institution. The maturity for real estate and land is also shorter for the 504. These loans can be used to purchase commercial real estate for owner's to occupy to run their business.
SBA Express Loan – If you need a smaller amount of money than you would with the 504 or SBA 7(a), the Express loan is a good option. The 36-hour turnaround does come with a few drawbacks: higher maximum interest rates, lower SBA guarantees, and greater authority in the hands of the lender.