The SBA offers several loan programs, including the popular 7(a) loan for general business purposes, CDC/504 loans for major fixed asset purchases, and microloans for smaller amounts. Each program is designed to meet different business needs, and we can help you determine which is best for your situation.

SBA loan amounts vary by program. The 7(a) program, for instance, allows borrowing up to $5 million. CDC/504 loans can go up to $5.5 million, while microloans are available for up to $50,000. The specific amount you qualify for depends on your business needs, financials, and the program you choose.

SBA loans can be used for a wide range of business purposes, including working capital, purchasing inventory or equipment, refinancing business debt, buying real estate, or funding business acquisition or expansion. However, they cannot be used for speculative investments or non-business purposes.

The SBA loan process can be more time-consuming than some other financing options, typically taking 60-90 days from application to funding. However, at GrowthPath Advisory, we work to streamline this process as much as possible, guiding you through each step to ensure a smooth and efficient experience.