SBA 7a Loans Chicago, IL

SBA 7a Loan Banks are financial institutions that administer certain small business loans. The federal SBA 7a Loan program provides loans to start-up and existing small businesses for a variety of purposes. These loans can be used for operational expenses, short-term working capital, establishing a new business, or purchasing equipment, supplies, real estate, or buildings. SBA 7a Loan Banks provide the loan, while the federal government guarantees payment to the lending institution. The program is managed through the U.S. Small Business Administration (SBA), a federal government agency that was formed in 1953 to support the economic growth of small businesses.