Great Plains Development, Inc. (GPDI) packages SBA 7(a) guaranteed loans. The 7(a) Loan Guaranty Program is one of SBA’s primary lending programs. It provides a guaranty to banks for loans to small businesses unable to secure financing on reasonable terms though normal lending channels.
A business is usually eligible if:
- The purpose of the loan is to start or grow a business.
- The existing business employs not more than 500 people; has average annual sales for the preceding three years not exceeding $6 million, including business affiliates; the business and its owners have good credit; and the business owners are of good character.
- Owner equity contribution is important.