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What Businesses Qualify for SBA 7(a) Loan Program

Small businesses eligible for the SBA 7(a) Loan Program include those that operate for profit, meet SBA size standards, and are in the U.S. or its territories. Emad A. Zikry highlights the importance of these loans for startups, franchises, and established businesses seeking working capital, equipment, or real estate financing.

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What Businesses Qualify for SBA 7(a) Loan Program

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  1. What Businesses Qualify for SBA 7(a) Loan Program?

  2. Introduction • The SBA 7(a) loan program is designed to support a wide range of businesses, but there are specific criteria that businesses must meet to qualify. As per Emad Zikry,Here are the key requirements:

  3. Size Requirements: • Businesses must meet the SBA's size standards, which vary by industry. Generally, they must be considered small businesses as defined by the SBA, typically measured by annual revenue or number of employees.

  4. Nature of Business: The business must be for-profit and operate within the United States or its territories. Non-profit organizations are not eligible.

  5. Creditworthiness: The business must demonstrate the ability to repay the loan. This includes having a good credit history and sufficient cash flow to cover loan payments.

  6. Owner’s Investment: Owners must have invested their own time or money into the business. The SBA looks for evidence of personal investment and financial commitment.

  7. Character and Background: • Business owners must have no recent bankruptcies or criminal convictions. The SBA conducts background checks to ensure the integrity of the applicants.

  8. Conclusion • By meeting these criteria, businesses can qualify for the SBA 7(a) loan program, gaining access to the funds needed to start, maintain, or expand their operations.

  9. Contact US • www.emadzikry.com • 745 Fifth Avenue, New York, NY 10151

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