SBA 504 vs 7(a): What’s the Difference?

SBA loans provide small businesses with an opportunity to secure financing that may have been challenging to obtain through traditional lending.
In this video, Joe will explain the differences between SBA 504 vs. 7a loans, which one is right for your business, and how to use them effectively!
Learn more about Joe and connect with him here:
www.flowcode.c...
Want to explore business financing options for your business? www.nationalbu...
Disclaimer: The information and insights in this video are provided for informational purposes only, and do not constitute financial, legal, tax, business, or personal advice from National Business Capital and the speakers. Do not rely on this information as advice, and please consult with your financial advisor, accountant, and/or attorney before making any decisions. If you rely solely on this information, it is at your own risk. The information is true and accurate to the best of our knowledge, but there may be errors, omissions, or mistakes.
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[@chipdempsey3389]

When your website requires submitting a social security number, you lost my interest in contacting you.

[@meloniemoncrieffe3248]

This is a very insightful video

[@michaelyangsun1521]

hi， Joe， what loans options are available for Canadian to buy business in America ?

[@tarasfrankivskyy6973]

Hi,
Is it possible to work with multiple SBA 504 brokers to get the the best loan terms? Just like when shopping for residential mortgage

[@royalbrooks8042]

Can you talk about the SBA 7(a) and 504 SOP 50 10 7.1 eligibility guidelines?

[@GrowbyJoe]

Hi Royal Brooks!
It's always best to confirm directly on the SBA's website for the most current and up-to-date eligibility information directly from them.

[@royalbrooks8042]

@@GrowbyJoe I agree and that is why I've asked the question. "Why did the SBA move eligibility out of the hands of the lender?"

[@ajkauly3682]

Greetings Joe, thanks for your insightful video! I have a business rebuilding bicycles since 2001, have been renting a 2000 ft2 workshop since 2007. I am buying a 4000ft2 building for 100k but probably 80 to 150k in rennovation. Which of the two types is better? I have 30k to put downpayment. NOw i pay 20k in rent every year. I am inventory heavy, but but costs of inventory are low, i make profit from my labor/skills in restorin and improving bikes. I am ok with transitioning into more parts sales in order to fund business if need be. AJ in Lansing, MI

[@huongtrinh8609]

thank you!

[@GrowbyJoe]

I appreciate you taking the time to check out my video! Thank you!