Funding Solutions for Growing Businesses

Securing a traditional business loan can be challenging, especially for newer ventures or those in industries like food, beverage, or hospitality. Sometimes, you need a stepping stone to help you grow and eventually qualify for bank financing.

That’s where SBA 7(a) loans come in. These tailored options cover working capital, equipment, and more. With our financial partner, you’ll work with an experienced SBA lender to guide you through a simple, efficient process.

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HomeBusinessSBA 7(a) Loans

Key Features of the SBA 7(a) loan program

Fund almost any business

Multiple terms

Comprehensive Interest rate

What is an SBA 7(a) loan?

The SBA 7(a) loan program provides funding for almost any business need including working capital, equipment purchases and more. Multiple terms and a wider credit box for approvals put affordable funding within reach and can help you take your business to the next level.

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Program details

  • Loan amounts: Up to $5MM for SBA 7(a) loans.
  • Interest rate: SBA 7(a) rates are competitive, variable interest rates determined on a case-by-case basis
  • Time to funding: Approvals in 30-45 days after you submit a complete application, time to funding varies based on project
  • Term: Up to 10 years for general funding; up to 25 years for real estate purchases
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SBA 7(a) loan requirements

If you believe in your idea but don’t yet meet bank loan requirements, you may qualify for a 7(a) loan. Here’s what to consider before applying—if you meet some or all of these criteria, you could be a strong candidate:

  • You have positive historic or projected cash flow
  • You have a positive net worth or available equity to contribute to your business
  • You have business assets or real estate to pledge as collateral
  • You have a fair to good personal credit score and management experience in the industry your business operates in
  • Your business is in an industry that has growth and positive business trends
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What can you use an SBA 7(a) loan for?

If you meet these SBA 7(a) loan requirements, you can use a SBA 7(a) loan for nearly any business expense—even combining multiple needs into one loan. Here’s how business owners commonly use them:

  • Leasehold improvements or renovations
  • Purchase of furniture, fixtures, and equipment
  • Purchase of inventory
  • Permanent working capital
  • Business acquisition
  • Debt refinance for any of the items listed above

Spark business growth with an SBA 7(a) loan

SBA 7(a) loans can give your business the boost it needs to grow and qualify for traditional funding in the future. Spark business growth with an SBA 7(a) loan today.  Please visit our banking centers to apply for a loan

FAQs

Who is an SBA 7(a) loan good for?

If you have a growing business but do not currently meet bank loan requirements, the SBA 7(a) or loan is right for you! And if your small business operates in an underserved community, the SBA loan program is right for you!

What are the basic eligibility requirements for an SBA 7(a) loan?

To be eligible for an SBA 7(a) your business must:

  • Be a for-profit business
  • Be considered a small business under the SBA’s standards
  • Do business, or have plans to do business, in the United States
  • Have business assets or property to pledge as collateral
  • Have a demonstrated need for a loan
  • Not have any existing debt to the United States government

The following criteria will help strengthen an application for a 7(a) loan:

  • Your business has positive historic or projected cash flow to repay the debt
  • Your business has a positive net worth or applicants with available equity to contribute the business
  • While a loan application will not be declined for a lack of collateral, the
  • availability of real estate or business assets to secure the loan is beneficial
  • You have a fair-to-good personal credit score and management experience in the industry the business operates in
  • Your business shows industry growth and positive business trends

How is the interest rate determined?

SBA 7(a) interest rates change based on the Federal Reserve’s actions, in addition to a lender spread (which is negotiated between the borrower and lender). Overall, SBA 7(a) interest rates are determined on a case-by-case basis.

How do I apply for an SBA 7(a) loan?

You’re welcome to visit any of Metropolitan Commercial Bank’s banking centers.

What Our Clients Are Saying

  • “MCB’s team is amiable and responsive, ensuring our needs are met. Compared to other lenders who overcomplicate the details, MCB simplifies the process, making it easier to navigate. We truly value our relationship with them, viewing it more as a partnership. They are the first name on the list when others in our industry ask.”

    Akiva S President, General Counsel

  • “The Commercial u0026 Industrial (Cu0026I) professionals at MCB are a pleasure to deal with. They are a bright, responsive group that took the time to learn about our business and help us grow. They understand how to solve complex issues and bring creative solutions to the table.”

    Joseph G MCB client Since 2017

  • “MCB has been a tremendous partner in helping us build our healthcare business. They are very knowledgeable in the commercial space and work with borrowers in every aspect of lending and banking. MCB responds promptly to underwriting needs and can close deals quickly – their word is gold.”

    Thomas V Chief Investment/Financing Officer, Marx Development Group

  • “Metropolitan Commercial Bank has been a great partner for Integrated Vehicle Leasing Inc. They are very understanding of our needs and have always worked to support and grow our business. I am proud to be a customer of MCB and look forward to working with them for many years ahead!”

    C Haburay Integrated Vehicle Leasing, MCB client since 2019

  • “We have been banking with MCB for the past decade, and our experience has been outstanding. The team has been incredibly supportive of and attentive to our needs from the beginning. Their comprehensive suite of banking services has significantly contributed to the growth and success of our business.”

    Edward F

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Get in Touch

Complete the form to connect with the team at Metropolitan Commercial Bank, find a location near you or reach out by mail using the address below.

99 Park Ave, 12th Floor
New York, NY 10016

212 659-0600

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