SBA 7(a) Loans - NJ Small Business Financing & Real Estate

Smart Funding for Local Entrepreneurs & Owner-Operators

The SBA 7(a) loan program is one of the most versatile financing tools available to small businesses in New Jersey. Backed by the U.S. Small Business Administration, this program helps local business owners secure funding for real estate, working capital, equipment, or even business acquisitions. Whether you're based in Middlesex County, Somerset, or beyond, Elias Mortgage works to package your loan, connect you with the right SBA lender, and guide you from start to finish.

Real Estate, Expansion & Everything In Between

An SBA 7(a) loan can support a variety of business goals, including:

  • Purchasing or refinancing owner-occupied commercial real estate (e.g. office, warehouse, or storefront)
  • Buying an existing business or expanding operations
  • Working capital for hiring, inventory, or marketing
  • Equipment or furniture purchases
  • Debt refinancing to improve cash flow

Loan amounts can go up to $5 million, often with as little as 10% down. For real estate, repayment terms can stretch up to 25 years-offering far more flexibility than traditional commercial loans.

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Who Qualifies for an SBA Loan?

You don't need to be a Fortune 500 company-just a qualified local business. Lenders look for:

  • Solid business financials (usually 2+ years of profitable operation)
  • Decent personal credit (typically 680+ for majority owners)
  • A business plan (especially for startups or acquisitions)
  • Personal guarantee from owners
  • Collateral (often business assets or property, though SBA can be flexible if cash flow is strong)

If you're starting up or purchasing a business, we'll help develop your projections and organize supporting documents. If you're already operating, we'll package your financials clearly to help lenders say "yes."

Why Choose an SBA 7(a) Loan?

Small business owners often struggle to get bank loans due to strict collateral requirements or short repayment terms. The SBA 7(a) program solves that:

  • Low down payments (as little as 10%)
  • Long repayment terms (up to 25 years for real estate, 10 years for other needs)
  • Flexible underwriting - more forgiving on credit or collateral
  • Can finance closing costs, soft costs, and even working capital

If you've been turned down for a conventional loan-or just want better terms-an SBA 7(a) loan is worth exploring.

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A Proven Process, Handled by Experts

SBA loans take a bit more paperwork-but that's where we shine. Here's how it works:

  1. We gather your documents - tax returns, financials, or business plan 
  2. We choose the right SBA lender - based on your industry, timing, and goals
  3. We prepare & submit your application - in a lender-friendly format
  4. We handle lender underwriting & SBA coordination - including appraisals or guarantees
  5. We stay with you through closing - ensuring a smooth handoff

Some loans close in as little as 6-8 weeks, but preparation is key. We'll streamline each step and keep you informed.

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SBA 7(a) Loan FAQs - What You Need to Know

  • Can I qualify if my business is new?

    Yes, startups can qualify-but you'll need a strong business plan and relevant industry experience. We'll help you build your case

  • How long does the process take?

    Expect 6-8 weeks or more. Some lenders are faster than others-our role is to help move things along and prepare everything in advance.

  • What are SBA loan rates like?

    Most 7(a) loans have variable rates tied to the WSJ Prime + a margin (currently often 6-8%). We'll give you exact rate quotes from approved lenders.

  • What fees should I expect?

    There's a one-time SBA guarantee fee (often financed into the loan), plus standard closing costs. There's no prepayment penalty for most loans under 15 years.

  • Do I have to get denied by a bank first?

    No-this is a myth. You can apply for SBA financing directly through participating lenders, and we'll help you get started.

Let's Fuel Your Business Growth in NJ

Whether you're launching something new, buying a building, or growing your team, an SBA 7(a) loan could be the funding solution that unlocks your next chapter.