No, you may use a portion of your SBA 7(a) loan funds to refinance debt. The balance of your SBA 7(a) loan can be used for working capital, such as rent, payroll, utilities, marketing, inventory and more.
To determine if you qualify for an SBA 7(a) loan, get started by submitting the loan application in your NEWITY account. It takes less than 10 minutes and does not impact your credit score.
NEWITY LLC and its affiliates are not lenders participating in the SBA’s 7(a) loan program. NEWITY LLC is a lender service provider for Northeast Bank, a lender participant in the SBA’s 7(a) loan program. SBA 7(a) loans are ultimately processed and approved by a lender participant in the SBA’s 7(a) loan program.