SBA Loans (7a & 504)
Government-Guaranteed Financing
The most comprehensive and affordable programs to expand, acquire, or stabilize a business.
What is an SBA Loan?
SBA loans are business financing programs backed by the U.S. Small Business Administration, which guarantees a portion of the loan, allowing lenders to offer lower rates, longer terms, and smaller down payments than conventional business loans.
SBA 7(a) — the most common program: Covers working capital, equipment, business acquisitions, and real estate. Loan amounts up to $5,000,000, terms up to 25 years for real estate and 10 years for working capital. Rates are typically WSJ Prime + 2.75% to 4.75%.
SBA 504 — for major assets: Designed for purchasing commercial real estate or heavy equipment. Structured as two loans: a conventional first mortgage (50%) and an SBA-backed debenture (40%), with only 10% down required. Loan amounts up to $5,500,000 on the SBA portion.
Best for: Buying an existing business, purchasing commercial property, long-term equipment, franchise acquisition, or refinancing high-cost debt with a long-term horizon.
Timeline: SBA loans require more documentation than conventional loans and typically close in 45–90 days. Glovenco’s team manages the packaging and submission process on your behalf.
Processed through Gloven Funding — These products are originated through Gloven Funding, Glovenco’s dedicated business financing division. You can also apply directly at glovenfunding.com.
⭐ Advantages
- Among the lowest interest rates available for business financing
- Terms up to 25 years reduce monthly payment burden
- Higher loan amounts than most conventional business lenders
- Excellent for business acquisitions — often used with no collateral gap
- Startups may qualify with strong business plan and owner equity
- Can refinance existing high-rate debt into a long-term SBA structure
⭐ Requirements
- 2+ years in business (startups may qualify under specific programs)
- 680+ personal credit score strongly preferred
- 2 years of personal and business tax returns
- Financial projections or business plan for acquisitions
- Good standing with existing creditors — no recent defaults
- U.S.-based, for-profit business with demonstrated need
- Collateral required if available (real estate, equipment)