SBA Loans for Law Firms
20,452 SBA loans have funded law firms nationwide, averaging $250K across 1,151 active SBA lenders, at an average note rate of 7.4%. SBA 7(a) loans up to $5M fund partner buy ins and law firm acquisitions and working capital between contingency settlements; SBA 504 loans cover owner occupied real estate and equipment with as little as 10% down. PeerSense reads this lending history and sources capital for a law firm.
Published: ·Last updated: ·By Ed Freeman, Capital Advisor. PeerSense
Source: SBA 7(a) and 504 loan records (NAICS 541110), 2000 to present.
20,452
SBA Loans Funded
$250K
Average Loan
7.4%
Avg Note Rate
12 yrs
Avg Term
1,151
Active Lenders
8.3%
Charge Off Rate (resolved loan basis)
What law firms use SBA loans for
Where law firms get SBA financing
| State | SBA Loans | Capital Deployed |
|---|---|---|
| California | 3,911 | $1.6B |
| Florida | 1,542 | $450.6M |
| New York | 1,439 | $266.8M |
| Texas | 1,417 | $378.2M |
| Massachusetts | 1,225 | $106.9M |
Talk to PeerSense about SBA capital for a law firm.
Tell us your loan amount and use of funds. PeerSense sources capital for a law firm, anywhere in the US.
SBA 7(a) / 504, Law Firms: The desk will reach out. No obligation.
How law firms qualify for an SBA loan
SBA 7(a) loans are the most common path for law firms financing partner buy ins and law firm acquisitions. They run up to $5M, fund up to 90% of a project, and amortize over 10 years for a business purchase or up to 25 years when real estate is included. SBA 504 loans pair a bank loan with a CDC debenture for owner occupied real estate and heavy equipment, typically at 10% down.
With 20,452 loans on record across 1,151 lenders and a 8.3% historical charge off rate, law firms are a well understood credit to SBA lenders, but not every lender is active in this profession or comfortable with its deal structure. PeerSense reads the lending history and sources capital through a curated network, then stays with you through closing.