By Beau Eckstein

December 10, 2022

How to Get an SBA 7a Loan in Pennsylvania, SBA 7a

In this article, you will learn how to get an SBA 7a loan in Pennsylvania

Pennsylvania is a great state to start or expand a business. 

One of the best lending programs for small businesses is the SBA 7a loan. It’s perfect for nearly all small businesses, especially those needing working capital.

Continue reading to learn more about this remarkable loan program in the state of Pennsylvania.

Welcome to Pennsylvania!

Pennsylvania, officially the Commonwealth of Pennsylvania, is a state spanning the Mid-Atlantic, Northeastern, Appalachian, and Great Lakes regions of the United States. It borders Delaware to the southeast, Maryland to the south, West Virginia to the southwest, Ohio to the west, Lake Erie and the Canadian province of Ontario to the northwest, New York to the north, and the Delaware River and New Jersey to the east.

Pennsylvania is the fifth-most populous state in the nation, with over 13 million residents as of 2020. It is the 33rd-largest state by area and ranks ninth among all states in population density. Nearly 4.29 million residents are concentrated in the southeastern Delaware Valley metropolitan area, centered around Philadelphia, the state's largest and the nation's sixth most populous city. Another 2.37 million reside in Greater Pittsburgh in the southwest, centered around Pittsburgh, the state's second-largest and Western Pennsylvania's largest city. The state's subsequent five most populous cities are: Allentown, Reading, Erie, Scranton, and Bethlehem.


Visitors will discover that there are many options available in the diverse and lively state of Pennsylvania. In Pennsylvania, there is something for everyone, from the state's diverse natural beauty to its many tourist attractions and rich history.

Pennsylvania is a great place for small business owners to lay down some roots.

The state's economy is strong and provides a good environment for doing business. In addition, it is populated by a sizable number of professionals. Pennsylvania is becoming a more sought-after destination for businesses, particularly new operations, as a result of its unique attributes.

As you can see, investing in a business or in real estate in Pennsylvania can be quite lucrative.

How is it possible to get financing for a business or property in the state of Pennsylvania?

In Pennsylvania, you have access to all the standard financing methods, including bank loans, private funding, “financial friends,” and individual savings. This does not imply that these are the only available choices.

There are better options! 

The SBA 7a program, SBA 504 program, and SBA Express program are a few of the greatest options for small business financing.

While the SBA 7a loan program will be the main focus of this article, the other two SBA lending programs will also be covered briefly.

These finance options would enable you to reach your business goals by providing you with up to $5 million at favorable terms and low interest rates.

Contact one of our knowledgeable business loan experts to set up a consultation to discuss your possibilities.

The SBA 7a loan is the best option for most companies in the Keystone State

SBA 7a loans are the most beneficial option for small business owners in Pennsylvania.

Consider applying for an SBA 7a loan if you need money to make repairs, purchase commercial real estate or equipment, or finance working capital.

Our knowledgeable staff will search through our wide network of lending partners to find the best loan terms and provide them to you so that your company may be sure it has all it needs to succeed.

We provide our clients with this service at no charge at all in the state of Pennsylvania.

FULL DISCLOSURE: If you choose one of our recommended lenders to fund your project, we will receive a commission from that lender.

There are many funding options for small businesses in the state of Pennsylvania 

For a variety of purposes, including working capital, equipment, and real estate, the Small Business Administration (SBA) offers a number of lending programs. These initiatives include, among others, the SBA 7a program, SBA 504 program, and SBA Express program.

SBA loans, which are backed by the government and have longer repayment terms than other commercial loans, frequently have lower interest rates spread over longer terms.

The SBA 7a Loan Program offered by the Small Business Administration in Pennsylvania is a great option

One of the most well-known lending programs offered by the SBA is known as the SBA 7a loan. It has many uses, such as working capital, equipment, and even real estate. A conventional loan normally carries a higher interest rate than an SBA 7a loan, which typically has a lower rate.

Also, the loan terms are longer than the terms of most conventional loans, which makes the monthly payments lower and more manageable. 

The maximum amount that can be borrowed through SBA 7a is $5 million.

The SBA 504 Loan Program in Pennsylvania

The SBA 504 program is made for businesses looking to buy or build real estate as well as large pieces of machinery or other fixed assets. The period of a loan for real estate is up to 20 years, while the term of a loan for equipment is up to 10 years. In comparison to the majority of other forms of financing, the interest rates are frequently lower.

The Pennsylvania SBA Express Program

Even though the maximum loan amount is $500,000, the application screening and approval process only takes three days. Nevertheless, this ease comes at a price. These loans often have higher interest rates and shorter repayment durations than other SBA loan types, in comparison.

We will put you in touch with the most suitable lender if you are interested in submitting an application for a small business loan in the state of Pennsylvania.

Make an appointment to speak with one of our commercial lending specialists today.

Working with Beau Eckstein as your commercial mortgage advisor when trying to locate the best SBA financing can be beneficial because he has extensive experience and knowledge in the field. He can help navigate the complex process of obtaining SBA financing and assist in finding the best options for your specific situation.

Additionally, his established relationships with lenders can help increase the chances of getting approved for funding.

Overall, working with a knowledgeable and experienced advisor like Beau Eckstein can greatly increase the chances of successfully obtaining SBA financing.

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