plg blog

What is the SBA 7(a) Loan Guarantee Program?

The 7(a) loan program is the SBA’s flagship loan guaranty program. In fiscal year (FY) 2013, the 7(a) loan program provided 46,399 federal loan guarantees on approximately $17.9 billion of privately originated small business loans. Congress established the SBA 7(a)...

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Can I Refinance an Existing 504 Loan with a 7(a) Loan?

Under SOP 50 10 5(f), borrowers may be able to refinance their 504 loan if they meet certain criteria. Although still not as widely known to borrowers as one might expect, as of the January 1, 2014, refinancing has been possible, if: (i) the transaction is used to...

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