SBA loans

[DisLaundry]

I have some questions for those of you who have gotten SBA loans. What time frame did it take to close? With a 7-year pay-off, does that mean the loan was amortized over only 7 years? That would make for some hefty payments. What are the options after 7 years?

[CleanCoin]

I just closed on that type of loan. It took around 10 days to close. The loan is ammortized over 7 years, that's all. Larger payments, quicker to payoff is the benefit.