This is such an underrated aspect of the SBA 7a loan 😱 Small business owners can used it for just about anything 👉🏼 Buy a building 👉🏼 Buy a business 👉🏼 Buyout your partner 👉🏼 Open a new location 👉🏼 Refinance debt 👉🏼 Start-up franchise 👉🏼 Permanent working capital The list goes on… While the eligible uses of proceeds is vast, the loan DOES have to fit into one of the many “boxes.” That’s why, when you call an SBA Lender, the first question they’re going to ask is, “what is this loan going to be used for?” Here are some bad 🙅🏻‍♂️ answers to that question: ❌ cash out ❌ pay back taxes ❌ short term operating capital My advice: Before you approach a lender, decise a well-thought out plan that outlines exactly what the loan will be used for, and how much money you need. If you’re interested in learning more about this topic, I have a video that breaks it all down: youtu.be/i7q-0CjfRWw?si=xGcu…