Title: Eligible and Ineligible Industries for SBA 7 (a) Loans — SBA7a.Loans
Headings: Does Your Industry Qualify for an SBA 7 (a) Loan? Will You Benefit?
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Does Your Industry Qualify for an SBA 7 (a) Loan? Will You Benefit?
Ineligible Industries for the SBA 7 (a) Loan Program
Consumer and Marketing Cooperatives
Dealers of Rare Coins and Stamps
Gambling
Government-Owned Organizations
Illegal Firms
Lending Firms and Loan Packaging Firms
Multi-Sales Distribution
Nonprofits
Pyramid Schemes or Multi-Level Marketing Schemes
Real Estate Investment Firms
Religious Institutions
Speculation-Based Businesses
Eligible SBA 7 (a) Business Opportunities
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Assisted Living Facilities
Motels, Hotels, and B&Bs
Restaurants
Bars and Clubs
Retail Stores
Business Services and Office-Based Companies
Auto Repair Shops
Car Dealerships
Car Wash Companies
Preschools and Daycares
Self-Storage Companies
Gas Stations and Convenience Stores
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Content: Eligible and Ineligible Industries for SBA 7 (a) Loans — SBA7a. Loans
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Does Your Industry Qualify for an SBA 7 (a) Loan? Will You Benefit? The top requirements for SBA 7 (a) loan eligibility is that your business be for-profit and mainly operate within the United States, which includes a large swath of business entities eligible for funding. SBA loan approval is easier in certain industries than in others, but ultimately, SBA 7 (a) loan approval will be determined by the circumstances of a specific business (as opposed to the industry alone), as well as your lender’s opinion of your chances of paying it back. That said, there are specific industries that absolutely will not qualify for SBA loan programs, so don’t even try (although it’s still possible to find alternate lending scenarios). So, which industries will the SBA disqualify when making its funding decisions? Ineligible Industries for the SBA 7 (a) Loan Program
Consumer and Marketing Cooperatives
A cooperative isn’t considered a small business with a primary owner who can apply (and take on responsibility) for paying back funding. Owned by and operated for the benefit of those involved, a cooperative distributes profits and earnings among its members. Dealers of Rare Coins and Stamps
The value of rare coins and stamps is neither fixed nor guarantee;