ETA Lunch-n-Learn: How to Buy A Company Using an SBA 7a Loan
Polsky Entrepreneur-in-Residence, Alex Hodgkin ’14 is hosting Will McClain from Windsor Advantage for a discussion on the SBA 7(a) loan program.
The 7(a) guaranteed loan program is the Small Business Administration’s primary lending program. These loans typically range from $25,000 to $5 million and are repaid in monthly installments. They can be used for a variety of business purposes including working capital, equipment acquisition, debt refinance, change of ownership, and real estate purchases. Maturities depend on the use of loan proceeds but typically range from 10 to 25 years.
SBA 7a loans can be a great option for those looking to acquire a small business. During this session Will and his colleague will talk about the SBA 7a program, what is required in securing these types of loans, how they are structured, and their benefits and caveats. The conversation will be supplemented with case studies of situations in which they’ve been used.