Interest Only SBA 7a loan?

searcher profile

November 30, 2022

by a searcher in New York, NY, USA

Which lenders provide an Interest Only SBA 7a loan? I've heard that some lenders offer a 6-12 month interest only 7a SBA loan before principal and interest payments are due. Thanks again and appreciate any responses.


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commentor profile
Reply by a lender
from Eastern Illinois University in 900 E Diehl Rd, Naperville, IL 60563, USA
It is not uncommon for lenders to provide 3 to 6 months of interest only post acquisition on SBA 7A loan to help with the transition. However, it is uncommon for most lenders to provide more than 6 months unless you can provide a good reason for why it is needed. I am more than happy to discuss various options with you at any time. I can be reached at redacted Thank you.
commentor profile
Reply by a lender
from Nova Southeastern University in Fort Lauderdale, FL, USA
I have provided interest only for the first 6 months BUT there must be a very specific reason, not just because you want it. The SBA does allow up to 12 months, but normally that is for real estate deals, construction related deals or leasehold improvements associated with new start-ups like Franchises.
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