The 7(a) is the SBA’s primary program for funding small businesses. They are applicable to established and revenue generating businesses looking to obtain funding.
Fundera specializes in working with a Loan under the 7(a) program but the key difference is speed of time to approval.
Similar to normal 7(a), this is a small business loan partially guaranteed by the government, allowing the bank the fund at a longer term with a lower variable interest rate. This particular loan can go up to $350,000 at a 10 year term.
You’ll probably want to consider these loans specifically if you have strong credit, a well-established business, and need $350,000.