Over the years, I’ve come to think of the SBA 7(a) loan as the Swiss Army knife of small business financing. It’s versatile and powerful, and, when used the right way, it can be the one tool a business owner needs to move forward. Whether you’re launching something new, expanding, buying out a partner, or taking over the family business, the 7(a) loan is built to meet entrepreneurs where they are.

At Always.bank, we’ve used this loan to help first-time owners buy their dream businesses. We’ve helped families transition ownership from one generation to the next. These aren’t just transactions: They’re life-changing milestones. And it’s incredibly rewarding to be part of that.

Still, there’s a lot of confusion out there about what SBA lending is really like. I hear it all the time: “Don’t those loans take six months to close?” The truth is, unless something unusual happens, we typically close in 45 to 60 days — sometimes faster, depending on how ready the borrower is. Sure, the rate is usually prime plus 2 to 2.75%, but you’re only putting 10% down and not 25 or 30%. That’s a huge advantage, especially to someone starting out.

We can close as fast as our borrowers can. If you’ve got your paperwork lined up and you’re quick to respond, we can move swiftly. But if paperwork isn’t in order, that slows everything down. I’ve learned over the years that clarity is a form of kindness. Our goal isn’t just to get a loan approved; it’s to help business owners truly understand the process.

What many people don’t realize is just how flexible the 7(a) program is. You can use it for working capital, equipment, debt refinancing, partner buyouts and more. That’s why I keep going back to the Swiss Army knife analogy. It’s one loan that has many functions.

One of the most important things lenders look at in SBA financing is cash flow. I’ve seen plenty of profitable businesses struggle to qualify simply because their tax returns or financial statements don’t tell the full story. Our job as lenders isn’t just to crunch numbers—it’s to understand your business and help you get loan-ready.

That’s why documentation matters so much. The earlier you start gathering things like life insurance policies, business insurance, and corporate documents, the smoother the process will be. Accuracy is just as important. One wrong form or missing page can lead to costly delays, or worse, a denial. At Always.bank, we do everything we can to guide borrowers through that prep work. We stay involved every step of the way, with frequent check-ins and conversations with underwriters and closers to guide borrowers through each step.

Every business is different. Every borrower is different. But when communication is strong and the borrower is ready, things tend to go well. That’s the kind of relationship we aim for at Always.bank: not just lender and borrower, but partners in the process.

If you’re thinking about applying for an SBA loan, my advice is simple: Ask questions, be honest about your situation, and start preparing your documents early. We’re here to help you get loan-ready and to support you through every stage of the journey.

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