What is an SBA 7(a) Loan?

Looking for the right SBA loan to finance your small business? Learn more about the general purpose SBA 7(a) loan!

The SBA 7(a) loan program, once considered the loan product of last resort, has become a much more popular vehicle for funding small business credit needs and for fueling the job growth so desperately needed in our economy at this time. 

The 7(a) loan program from the United States Small Business Administration is the most common type of SBA loan, and provides financial assistance for small businesses with special requirements. Commonly referred to as a “general purpose small business loan”, SBA 7(a) loans may be used for any legitimate small business expenditure, including but not limited to the following activities:

  • Business real estate purchase
  • Business real estate new construction, remodeling, or expansion
  • Business acquisition
  • Partner buyout
  • Business equipment acquisition
  • Refinancing and debt consolidation
  • Business expansion and working capital

What Are the Main Differences Between SBA 504 Loans and SBA 7(a) Loans?

7(a) Small Business Loans | Bruce Hurta | Members Choice Credit Union

For more information about government-backed small business loans, including the SBA 7(a) loan, please contact Bruce Hurta at 281/294-2595 or bruce.hurta@gmail.com.

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About Bruce Hurta

Bruce Hurta has extensive experience in Small Business Lending. He has served in a number of commercial lending and banking capacities in his career including, President of a Houston-area community bank for 6 years, managed Independence Funding Company, a non-bank start-up in 1994, where he developed his SBA lending expertise. Bruce spent 4 years in Finance as a bank examiner for the Texas Banking Department, 7 years in executive management at two community banks, and 14 years as SBA Lender. He is active in the commercial realtor and business brokerage communities, along with various business and industry organizations. Bruce Hurta is Vice President - Business Development in Houston, TX for Fidelity Bank SBA Lending nationwide. Fidelity Bank offers SBA 7(a) loans, SBA 504 loans, and USDA loans for small businesses to purchase or construct new buildings for their small business operations, to acquire a business, to expand a business or to buy out a business partner.
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