Through the 7(a) program, Grayson added, funds can be used for expenses like the purchase, refinance, renovation or ground-up construction of commercial real estate. Funds can also be used for expenses like working capital, equipment, inventory, partnership buyouts, debt consolidation, business purchases, leasehold improvements, expansions and more.

SBA 7(a) Loan Terms

Loans usually range from $25,000 up to $5 million, Grayson said. The rates can be fixed, but most lenders offer an adjustable rate, adjusted quarterly.

SBA 7(a) Lenders

• South End Capital