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SBA 7(A) Loan Program

This is a government-guaranteed loan program to encourage lenders to extend business loans to qualifying small businesses that cannot obtain funds on reasonable terms through other conventional lending. The maximum SBA 7(a) Loan amount is $5,000,000.

Use of Funds

  • Working capital
  • Equipment and inventory purchases
  • Leasehold improvements
  • Commercial real property acquisition
  • Business acquisition
  • Business debt refinancing

SBA Guaranteed Percentage

  • 85% guaranteed by SBA for loans up to $150,000
  • 75% guaranteed by SBA for loans greater than $150,000, subject to the $3,750,000 maximum guaranteed amount

Terms

The maximum loan maturities vary depending on the use of proceeds:

  • Working capital - 5 to 10 years
  • Fixed asset acquisition - 7 to 10 years
  • Leasehold improvements - 7 to 10 years
  • Business acquisition - 10 years
  • Commercial real property acquisition - Up to 25 years

 

Interest Rate
  • Variable rate tied to the Wall Street Journal Prime Rate plus a margin

Eligibility Requirements

  • Must meet the SBA size standards as to annual gross sales or number of employees
  • Must be a for-profit business operation
  • Business must be located in the United States

For more information on SBA Loans, please visit www.sba.gov.

For all your SBA Loan needs, please contact our SBA Department at
1-866-228-4296 or (1-866-Cathay6), or your local Cathay Bank branch manager.


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1-800-9CATHAY

(1-800-922-8429)

Customer service: 6:00 a.m. - 6:00 p.m. Pacific Time, Monday through Friday.

Automated information is available 24hours a day, 7 days a week.

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