SBA 7a Loans
SBA Answer Desk
SBA 7a Loans provide funds to small businesses and are a good option for small healthcare practitioners. Loan funds may be used:
- To provide long-term working capital for operational expenses, accounts payable, and to purchase inventory
- Short-term working capital needs, including seasonal financing, contract performance, construction financing, and exporting
- Revolving funds based on the value of existing inventory and receivables, under special conditions
- To purchase equipment, machinery, furniture, fixtures, supplies, and materials
- To purchase real estate, including land and buildings
- To construct a new building or renovate an existing building
- To establish a new business or assist in the acquisition, operation, or expansion of an existing business
- To refinance existing business debt, under certain conditions
To be eligible, the business must be operated for profit and fall within the size standards set by the SBA.
Privately owned medical facilities including hospitals, clinics, emergency outpatient facilities, and medical and dental laboratories are eligible; recovery and nursing homes are also eligible, provided they are licensed by the appropriate government agency and they provide more than room and board.
For complete information about funding programs, including your application status, please contact funders directly. Summaries are provided for your convenience only. RHIhub does not take part in application processes or monitor application status.