Hope Well Financial

Secure SBA 7(a) & EIDL Funding for Your Business

Get the funding you need to start, grow, or rebuild your business with flexible loan solutions tailored for small businesses—powered by the support and guidance of Hopewell Financial.”

$5M+

Maximum 7(a) Loan Amount

$2M

Maximum EIDL Amount

25 Years

Maximum Loan Term

85%

Maximum Guarantee

Frequently Asked Questions

Explore the different SBA loan programs available to help your business thrive.

SBA 7(a) Loan Program

The SBA’s primary and most flexible loan program

Economic Injury Disaster Loan (EIDL)

Financial assistance for businesses affected by disasters

Do You Qualify for SBA Funding?

Review the general eligibility requirements for SBA loan programs.

SBA 7(a) Eligibility

EIDL Eligibility

How to Apply for SBA Loans

We guide you through every step of the application process.

Step 1

Initial Consultation

Meet with our loan specialists to discuss your business needs and determine which SBA loan program is right for you.

Step 2

Document Preparation

We'll help you gather all necessary documentation, including business plans, financial statements, and tax returns.

Step 3

Application Submission

Our team will review your application package and submit it to the appropriate SBA lender or directly to the SBA.

Step 4

Underwriting & Approval

The lender or SBA reviews your application, conducts underwriting, and makes a decision on your loan request.

Step 5

Closing & Funding

Once approved, we'll guide you through the closing process and help you access your funds quickly.

Frequently Asked Questions

Get answers to common questions about SBA loans.

What's the difference between SBA 7(a) and EIDL loans?

SBA 7(a) loans are general-purpose business loans for a variety of needs, while Economic Injury Disaster Loans (EIDL) are specifically for businesses that have suffered economic injury due to a declared disaster. 7(a) loans are processed through approved lenders, while EIDL applications go directly through the SBA.

The timeline varies by program and lender. For SBA 7(a) loans, the process typically takes 60-90 days from application to funding. EIDL applications can take 2-3 weeks for approval, with funding following shortly after. Working with an experienced SBA loan specialist can help expedite the process.

Common requirements include business and personal tax returns (3 years), business financial statements, business plan, personal financial statement, business debt schedule, and collateral documentation. Additional documents may be required based on your specific situation and loan type.

SBA loans typically require collateral, but the SBA won’t decline a loan solely for lack of collateral if all other factors demonstrate repayment ability. For 7(a) loans under $25,000, no collateral is required. EIDL loans over $25,000 require collateral, while those under $25,000 don’t.

SBA 7(a) loan rates are based on the prime rate plus a margin, typically ranging from Prime + 2.25% to Prime + 4.75%, depending on loan amount and term. EIDL rates are fixed at 3.75% for businesses and 2.75% for nonprofits. Our team can provide current rates based on your specific situation.

Yes, SBA 7(a) loans can be used for business acquisitions. The SBA typically requires a minimum 10% down payment, and the business must meet eligibility requirements. The loan can cover the purchase price, working capital, and even renovations or equipment upgrades.