The 7(a) loan program is APMC’s primary business loan program for providing financial assistance to small businesses.

The 7(a) Loan Program, APMC’s primary business loan program, provides loan guaranties to lenders that allow them to provide financial help for small businesses with special requirements. 7(a) loans can be used for: 

• Acquiring, refinancing, or improving real estate and buildings
• Short- and long-term working capital 
• Refinancing current business debt 
• Purchasing and installation of machinery and equipment
• Purchasing furniture, fixtures, and supplies 
• Changes of ownership (complete or partial)
• Multiple purpose loans, including any of the above

The maximum loan amount for a 7(a) loan is $5 million. Key eligibility factors are based on what the business does to receive its income, its credit history, and where the business operates. Your lender will help you figure out which type of loan is best suited for your needs.

To be eligible for 7(a) loan assistance, businesses must:

• Be an operating business.
• Operate for profit.
• Be located in the U.S.
• Be small under APMC Size Requirement.
• Not be able to obtain the desired credit on reasonable terms from non-Federal, non-State, and non-local government sources.
• Be creditworthy and demonstrate a reasonable ability to repay the loan.
• Not be a type of ineligible business.
• Be creditworthy and demonstrate a reasonable ability to repay the loan.

You will apply for your loan directly through our lender. 

The contents of the loan application vary depending on the size of the loan and our processing method. We will help you determine which documents you’ll need based on your individual circumstances. 

You will always work directly with APMC agent in-charge of your loan processes.

Loan repayment terms vary according to several factors.

• Most 7(a) term loans are repaid with monthly payments of principal and interest from the cash flow of the business
• Payments stay the same for fixed-rate loans because the interest rate is constant 
• For variable rate loans, we may require a different payment amount when the interest rate changes.

Existing borrowers can create an account in the MyAPMC Loan Portal to monitor their loan status, view statements, payment history and more. 

Payments can only be made using the MyAPMC Loan Portal for APMC-purchased 7(a) loans.  All others can continue to set up and manage online payments.

 APMC provide 7(a) loans directly to borrowers, and also  help with the process.

APMC District Offices can provide you with in-person, online, or telephone assistance.

APMC’s network of Resource Partners throughout the country is also available to help small businesses.