What are the benefits of a 7a SBA loan?

If you obtain a 7a SBA loan guarantee, you will have an easier time qualifying for a private loan, and your terms will be more favorable. For example, SBA loans are guaranteed to be fixed-rate loans, and they will often have lower interest rates than their market counterparts. You will also have the advantage of refinancing your loan in the future, if necessary, through the SBA with little to no penalty. Not all businesses qualify for the program. If you do, it will present unique advantages over seeking a conventional business loan.