SBA Loan Assistance

As an entrepreneur, you may know that applying for small business funding is vital to get your business to the next level. Whether you’re looking for loans or  disaster relief Dooley Noted can provide guidance in the process. 


Types of SBA Loan Assistance

The Small Business Administration (SBA) provides many options for funding for small businesses. Texas Small Business owners have options when it comes to funding, and we want to provide guidance through the process.

504 Loans


7(a) Loans


504 Loans

The CDC/504 Loan Program provides long-term, fixed rate financing of up to $5 million for major fixed assets that promote business growth and job creation.

504 loans are available through Certified Development Companies (CDCs), SBA’s community-based partners who regulate nonprofits and promote economic development within their communities. CDCs are certified and regulated by the SBA.



To be eligible for a 504 loan, your business must:

  • Operate as a for-profit company in the United States or its possessions
  • Have a tangible net worth of less than $15 million
  • Have an average net income of less than $5 million after federal income taxes for the two years preceding your application

Other general eligibility standards include  falling within SBA size guidelines, having qualified management expertise, a feasible business plan, good character and the ability to repay the loan.

Loans cannot be made to businesses engaged in nonprofit, passive, or speculative activities. For additional information on eligibility criteria and loan application requirements, small businesses and lenders are encouraged to contact a Certified Development Company in their area.

    Use of a 504 Loan

    A 504 loan  can be used for a range of assets that promote business growth and job creation. These include the purchase or construction of: 

    • Existing buildings or land
    • New facilities
    • Long-term machinery and equipment

    Or the improvement or modernization of:

    • Land, streets, utilities, parking lots and landscaping
    • Existing facilities

    A 504 loan  cannot  be used for:

    • Working capital or inventory
    • Consolidating, repaying or refinancing debt
    • Speculation or investment in rental real estate

    This information is sourced directly from To learn more visit,


    The microloan program provides loans up to $50,000 to help small businesses and certain not-for-profit childcare centers start up and expand. The average microloan is about $13,000.

    SBA provides funds to specially designated intermediary lenders, which are nonprofit community-based organizations with experience in lending as well as management and technical assistance. These intermediaries administer the microloan program for eligible borrowers.



    Each intermediary lender has its own lending and credit requirements. Generally, intermediaries require some type of collateral as well as the personal guarantee of the business owner.

      Use of a Microloan

      Microloans  can  be used for a variety of purposes that  help small businesses expand. Use them when you need  less than $50,000 to  rebuild, re-open, repair, enhance, or improve your small business.

      Examples include: 

      • Working capital 
      • Inventory 
      • Supplies 
      • Furniture 
      • Fixtures 
      • Machinery 
      • Equipment 

      Proceeds from an SBA microloan  cannot  be used to pay existing debts or to purchase real estate.

      This information is sourced directly from To learn more visit,

      7(a) Loans

      The 7(a) Loan Program, SBA’s most common loan program, includes financial help for small businesses with special requirements. This is the best option when real estate is part of a business purchase, but it can also be used for: 

      • Short- and long-term working capital 
      • Refinance current business debt 
      • Purchase furniture, fixtures, and supplies 

      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 7(a) loan assistance, businesses must:

          • Operate for profit 
          • Be considered a small business, as defined by SBA 
          • Be engaged in, or propose to do business in, the United States or its possessions 
          • Have reasonable invested equity 
          • Use alternative financial resources, including personal assets, before seeking financial assistance 
          • Be able to demonstrate a need for a loan 
          • Use the funds for a sound business purpose 
          • Not be delinquent on any existing debt obligations to the U.S. government 


      Use of a 7(a) Loan

      • Long- and short-term working capital 
      • Revolving funds based on the value of existing inventory and receivables 
      • The purchase of equipment, machinery, furniture, fixtures, supplies, or materials 
      • The purchase of real estate, including land and buildings 
      • The construction a new building or renovation an existing building 
      • Establishing a new business or assisting in the acquisition, operation or expansion of an existing business 
      • Refinancing existing business debt, under certain conditions

      This information is sourced directly from To learn more visit,

      Economic Injury Disaster Loans

      Small businesses, small agricultural cooperatives, and most private nonprofit organizations located in a declared disaster area and which have suffered substantial economic injury may be eligible for an SBA Economic Injury Disaster Loan (EIDL).

      If you have suffered substantial economic injury and are one of the following types of businesses located in a declared disaster area, you may be eligible for an SBA EIDL:

      • Small business
      • Small agricultural cooperative
      • Most private nonprofit organizations


      • Substantial economic injury means the business is unable to meet its obligations and pay its ordinary and necessary operating expenses.
      • EIDL provides the necessary working capital to help small businesses impacted by a disaster survive until normal operations resume.  
      • EIDL assistance is available only to small businesses when SBA determines they are unable to obtain credit elsewhere.

      Use of an EIDL

      Working capital and normal expenses such as the continuation of health care benefits, rent, utilities, and fixed debt payments

      This information is sourced directly from To learn more visit,

      Successful businesses need a strong legal foundation. If you need SBA Loan Assistance, Dooley Noted will guide you through the process, from start to finish. Additionally, we will offer quality advice for success in your industry.

      how to apply for an EIDL and how a business lawyer in Texas can help with SBA Loan Assistance


      SBA Disaster Assistance Loans

      Businesses of all sizes in a declared disaster area are eligible for disaster assistance loans from the SBA. The SBA offers disaster assistance in the form of low-interest loans for physical and economic damage caused by major disasters or emergencies declared by the president. So, if you’re thinking of applying for a small business loan, it’s important to know how the SBA defines disaster and how that affects you and your small business.

      According to the SBA, disaster is “[a]n unforeseen combination of circumstances that causes serious damage to a business, rendering it unable to continue operating as usual.” This includes civil unrest and natural disasters such as hurricanes, flooding, wildfires typically affecting at least 25 homes or businesses sustaining uninsured losses at 40 percent or more.

      The EIDL is one of the most common disaster relief loans offered by the SBA. Learn more about applying for the EIDL. 

      how to apply for an EIDL and how a business lawyer in Texas can help with SBA Loan Assistance
      Business Lawyer in Central Texas can help with SBA Loan Assistance

      Building Businesses through SBA Loan Assistance

      Did you know you could start, grow or recover your small business with SBA loan assistance? The Small Business Administration (SBA) offers a variety of funding programs such as grants, microloans, express loans, and disaster relief funding to assist small businesses no matter their need.

      Ultimately, the main goal of the SBA is to help small businesses get financing. They offer small business loans through various lending partners.

      Sometimes the application process can be tricky, that’s why Dooley Noted is here to help business owners through the process.

      It is important to be aware when it comes to accepting small business loans – be on the lookout for high interest rates and high fees! Shop around and look for competitive offers, and consider speaking with a Texas Business Lawyer, financial planner or accountant before you sign your next loan.

      Additionally, it is always best to consult with a business attorney prior to signing any legal documents.

      Dooley Noted can help you find a loan that’s most fitting to your business and even navigate the application process and serve as a representative for counsel and questions along the way.

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