From heavy machinery to furniture and fixtures, we have solutions to meet all your equipment financing needs.
SBA 7(a) loans are one of the most popular options at the disposal of business owners in need of a convenient equipment financing solution.
If you are looking for an SBA 7(a) loan for equipment financing, turn to Gellyfish Commercial. We have the in-depth expertise and the drive to provide the superior service you and your business deserve.
What Are SBA 7(a) Loans?
These are loans guaranteed by the Small Business Administration (SBA) to provide financial assistance to small businesses. Proceeds from 7(a) loans can be used for a variety of purposes, including the purchase of equipment.
What Equipment Can Be Purchased With an SBA 7(a) Loan?
The kinds of equipment you can buy with the proceeds of a 7(a) loan are almost limitless. These are some common examples:
Tools and utensils
Cranes, forklifts, and lifts
Find the Equipment Financing Solution that Works for You
Our experts will craft a personalized plan to help you achieve your goals
What Are the Differences Between SBA 7(a) Loans and SBA 504 Loans?
While these are two very popular SBA lending programs, there are some key differences between them.
While SBA 7(a) loans are capped at $10 million, 504 loans can range from $125,000 to $20 million.
The interest rates on a 504 loan are fixed, while 7(a) loans have predominantly variable rates (although there are some fixed-rates options as well).
Finally, the down payment for a 504 loan is 10 percent. By contrast, with 7(a) loans the minimum down payment is 10 percent, but you may be required to pay more than that.
Certainty of Execution in SBA 7(a) Loans for Equipment Financing
We make equipment financing easy with an approach that privileges integrity, fast response times, and certainty of execution.
We are located in Riverside, California. Contact us today at (877) 800-4493 or fill out the free online form to get started on the perfect equipment financing solution for your company.
Commercial Real Estate Financing
At Gellyfish Commercial we offer a broad spectrum of commercial real estate financing options. Our deep expertise and decisive approach allow us to provide our clients with effective financing solutions tailored to the Southern California market.
Running a business is a challenge, and one of the most daunting aspects is financing. Luckily, at Gellyfish Commercial we make it easy for you to get the capital you need to move your business forward.