How to Get a 7 Million Dollar Business Loan in 2023


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Can you get a 7 million dollar business loan to support your business, and what are the requirements? Here’s everything you need to know before starting the process:

Cash flow management is a challenge for every business in all industries. In one moment, your operation is doing fine, and everything is running smoothly, but in the next, your cash flow becomes non-existent, and you start to wonder how you’ll pay your rent that month.

This change can happen over a matter of days, leaving you confused, anxious, and frantically searching for a creative solution to the latest business challenge.

Whether you’ve been in business for decades or have only operated for a few months, cash flow constraints can bring your growth to a screeching halt and hinder your ability to take advantage of new opportunities. You won’t be able to seize that supplier discount without the necessary resources, nor will you be able to hire that new team of workers if you don’t have the cash flow to support the venture. 

Because of this, cash flow constraints are significantly problematic for growing businesses and entrepreneurs, but there is a way around this problem that could allow you to expedite your growth without restriction—competitive business financing.

Business loans come in all shapes and sizes, with some formats being more flexible than others. You can secure any amount of money through a business loan—even 7 million—if your business’s financial information is robust enough. But, before you can secure the funds you need to grow, you’ll need to find the right lender to get a 7 million dollar loan for your business, one with financing options and terms that meet the specific needs of your business.

You could compare lenders one by one, or you can streamline your search for a 7 million dollar business loan with National Business Capital. Our experienced Business Finance Advisors do the heavy lifting for you, leveraging a 75+ lender marketplace to find you best-fit financing options that allow you to cultivate sustainable growth in your business.

We’ve shortened the process to mere days, not weeks or months, to give you the opportunity to secure fast financing and outpace your competition with ease.

Complete our digital application to get started!

1. What Are the Requirements for a 7 Million Dollar Business Loan?

The requirements for getting a 7 million dollar business loan will depend on the lender, but generally, you can expect to provide your personal financial statement, a business plan, your last 2-3 years of YTD financials and business tax returns, your cash flow statement and others. You should also be able to prove that your business is profitable.

If you need $7 million to tackle a challenge or take advantage of a growth opportunity, a 7 million dollar business loan can get you where you need to be. However, you should note that borrowing this amount of money isn’t easy, especially if your business has below-average annual revenue, a low credit score, or hasn’t operated very long.

In most cases, your revenue will qualify you for a business loan. If your business produces more than $7 million in revenue, then you’ll likely find it easier to reach an approval than an operation that doesn’t make as much, but that doesn’t mean it's impossible to secure this amount of capital without this qualification.

The most important factor in securing a 7 million dollar business loan is the lender you’re dealing with. Every lender will have different eligibility criteria, and each will see your business differently based on the same financial information you provide. One might see your organization as a risky investment and deny your application, whereas another might see your business as risk-free and offer you favorable terms. For the best results? You’ll need to speak with multiple lenders and compare their programs.

Before you start searching for lenders, it’s important to have the necessary documentation readily available for the process. You should be prepared to provide:

Last 2-3 years of Business Tax Returns Last 2-3 years of Personal Tax Returns
Last 2-3 Years and YTD Financials Cash Flow Statement
Personal Financial Statement Collateral: Real Estate or Quality B2B Account Receivables
Be Profitable Projections
Established Business credit Personal credit score (700 or more)
Business plan (including information on your industry, competitors, growth strategy, etc.)

Some lenders may require you to offer an asset as collateral to “secure” the financing. This can be a tangible asset, like real estate or a valuable piece of equipment, or an intangible asset, like your accounts receivable, but it must be substantial enough for the lender to recoup their costs if you default on your payments.

If you’ve taken a hard stance against offering collateral, you don’t have to accept the first terms you receive. There are a variety of different lending institutions that can help you secure $7 million in capital, such as traditional lenders, online lenders, and angel investors.

$7 Million Loan Qualifications

$4 Million Business Loan $7 Million Business Loan

1 Year in Business

Newer businesses can secure the capital they need to grow

$4 Million Business Loan

$120K in annual revenue

If your business produces $10,000 in monthly revenue, you can qualify for a business loan

No minimum credit score

We can find financing options for businesses with excellent or poor credit.

Traditional lenders, otherwise known as banks and credit unions, are most people’s first call when it comes to business financing. These institutions feature low interest rates and favorable terms, but their eligibility criteria are strict, and their underwriting process is lengthy. Entrepreneurs who need fast financing might not find what they need with a traditional lender, so they’ll turn to online lenders for increased flexibility.

Online lenders are characterized by loose eligibility requirements, expedited underwriting processes, and increased interest rates. They’re essentially the opposite of traditional lenders, but their client-focused approach to business financing makes it easier for entrepreneurs to secure the capital they need to grow. 

Lastly, we have angel investors, which are most similar to the investors you see on the popular TV show, Shark Tank. These individuals are highly wealthy investors who find businesses they think will improve in the future. They will, in turn, offer capital to these businesses as a form of investment, but this forces the business owner to lose equity in their operation. For example, if an angel investor gives you $7 million for a 50% stake in your company, then they now own 50% of your business.

Angel investors leverage equity financing, whereas online and traditional investors use the debt financing route. In either situation, you shouldn’t just accept the first best offer. The only way to secure the best deal on a 7 million dollar business loan is to compare your options thoroughly and, most importantly, find the RIGHT lender for your circumstances.

You could sift through lenders and their programs one by one, but this takes time, resources, and effort. Rather than waste time that you could have spent running your business, you can speed up the process by teaming up with a marketplace of lenders. There, you can submit your application to multiple lending institutions at once and receive multiple offers to choose from.

2. How Much Will a 7 Million Dollar Business Loan Cost?

Exactly how much a 7 million dollar business loan will cost will depend on the lender, the financial information of your business, the type of loan and other factors. However, you can typically expect an APR of between 7% and 15%, with a repayment term of up to 25 years.

The cost of your financing will depend on a number of factors, such as:

  • The lender you’re dealing with
  • The financial information of your business
  • The type of loan you’ve secured
  • The length of your repayment terms
  • How long you’ve operated in your industry
  • The Fed’s current interest rates

Each financing option will have different interest rates, repayment terms, and other contingencies that will impact the overall cost of securing that loan. The lender you’re dealing with plays a significant role, too, as they usually have the final say on your interest rate and other fees. 

Generally, the interest rate on a 7 million dollar business loan will vary between 7% and 15% APR, with repayment terms ranging from 7 to 25 years. However, all of this information will depend on the lender you’re doing business with. 

7 million dollar business loan

The interest rate on your financing is one of the biggest factors in determining your overall cost, but your repayment terms also play a role. Higher interest rates and shorter repayment periods combine to create the most financially constrictive scenario—higher monthly payments with less time to pay them. 

Remember: It isn’t about reaching any approval; It’s about finding the RIGHT lender with terms that fit the needs and circumstances of your business.

The businesses with the strongest financials are more capable of securing favorable rates and terms on 7 million dollar business loans, but that doesn’t mean securing a loan of this size is impossible without these qualifications.

Businesses with lesser financial information or an abridged time in business can still secure $7 million, but they might need to offer collateral, pay a higher interest rate, and have substantial revenue production to convince a lender they aren’t a risky investment. 

Or, if you’re looking for multiple financing options to secure $7 million, you can team up with the expert Business Finance Advisors at National Business Capital to receive multiple competitive options in half the time.

The Loan Application Process for a $7 million business loan



Your business must be generating a minimum of $10,000 in monthly revenue to qualify


Young and growing businesses can still find financing options


Go from application to approval much faster than with traditional lenders

We take an educational approach to helping you get the best option.

By explaining—rather than selling—we can help you find the right loan for your business.

3. What are the different types of 7 Million Dollar Business Loans?

There are different types of 7 million dollar business loans that your company can seek, ranging from business term loans to business lines of credit, cash advance and SBA loans. They will vary by interest rates and repayment terms, and some will require a collateral.

Your 7 million dollar loan can take various formats depending on your needs. Some options are more flexible in their application, while others are more straightforward in their use. Here are a few of the most common types of 7 million dollar business loans leveraged by entrepreneurs throughout the country:

3.1. Business Term Loans

Term loans are what most people think of when they think of business financing—a one-time lump sum payment that you must repay within the term outlined by your lender.

You can use a term loan for almost any business expense, but you might need to offer a detailed plan on how you intend to use the borrowed amount to your lender before you reach an approval. Additionally, you might need to offer collateral to secure the financing, especially if your business has less than favorable financial information. 

Term loan interest rates range from 7% to 15% APR. Repayment terms vary from 7 to 25 years, but all of these factors will depend on the lender you’re dealing with.

3.2. Business Line of Credit

Business lines of credit are one of the most flexible financing options available to entrepreneurs. They’re a revolving line of credit that you can draw from whenever you need. You can even draw physical cash with a line of credit, which is the biggest difference between this financing option and a business credit card.

Your total credit line stands as the maximum amount you can borrow, but you’ll only have to pay interest on the amount you draw—not your total credit line. Most business lines of credit are revolving, too, and you can use it as a tool in your toolbox whenever you’re faced with a challenge in your business.

Securing a $7 million line of credit is possible, but it isn’t easy. You may want to consider securing another type of financing and layering a business line of credit on top. For example, savvy entrepreneurs will secure term loans for a majority of the amount they need to borrow and add a business line of credit to help them handle their cash flow while they pay off the more sizable loan. The options are endless, especially if you’re committed to growing.

3.3. SBA 7(a) Loans

SBA loans are some of the most coveted financing options because of their low interest rates and increased borrowing limits. Through the SBA’s 7(a) and 504 programs, you can borrow up to $5 million with a single transaction, which allows entrepreneurs all over the country to secure the funds they need to grow.

Interest rates of SBA loans are some of the lowest on the market because of the government’s partial backing of the financing, but all the benefits come with one drawback—strict eligibility requirements. SBA loans are reserved for businesses that can display strong financial information and have a lengthy time in business, but you shouldn’t let that deter you from applying.

3.4. Business Advance

A business advance is technically an advance on your future sales. Some industries, like retail and construction, do most of their business in select periods of the year. For retail, it’s the hustle and bustle of Q4, while construction does most of its work during the spring and summer months.

Cyclical or seasonal businesses often find it difficult to manage their cash flow, afford growth opportunities, and start their busy season on solid footing because of their business model. Rather than cut their balance sheet to free up capital, these businesses can secure the funds they need by leveraging their future accounts receivable to secure a business advance.

You won’t be able to secure $7 million from a business advance unless you’re generating more than $7 million in revenue. This is because lenders take a percentage of your total accounts receivable as payment for the financing, so you won’t necessarily receive the full amount of your accounts if you go down this route. However, if you need cash in the short term and can afford to lose out on your future payments, a business advance could be what you need to accomplish your $7 million goals.

3.5. Invoice Factoring

A late customer payment can bring your production to a complete halt, but invoice factoring can right the ship by turning those late payments into cash today. Lenders will review the total value of all your outstanding invoices and offer you financing based on that amount.

Additionally, you should note that you’re only eligible to secure $7 million through invoice factoring if the total value of your outstanding invoices is well over $7 million. You won’t be able to collect the full value of your unpaid invoices, as the lender will take a portion of your invoices as payment for their service.

4. Secure Competitive 7 Million Dollar Business Loan Options Through National Business Capital

A 7 million dollar business loan can take your business to the next level, but only if you can secure one with favorable terms that fit the needs of your business. This might seem like an easy task, but as you begin speaking with lenders and comparing their programs, you’ll find that it’s rather challenging. Applying to lenders individually will require you to take a lot of time away from your business to focus on your research, which is something that not many business owners can afford. 

Don’t worry: There’s an easy option right in front of you—National Business Capital. Our team of expert Business Finance Advisors takes the time to learn about you, your business, and your circumstances to connect you with personalized, competitive financing solutions for the challenges you’re facing in your business.

Whether you need a 7 million dollar business loan for cash flow management, growth opportunities, or to afford a massive expansion of your business, you can trust that National’s award-winning team can find you the RIGHT option for you within our 75+ lender marketplace.

Ready to get started? Complete our digital, streamlined application in only a few minutes, and our team will be in touch shortly.


Can I Get a 7 Million Dollar Business Loan?

Yes! You can secure a $7 million business loan to support your business as it grows. A variety of lenders offer financing of this caliber, but you shouldn’t expect the process to be easy. You’ll need to have a solid credit history, an extended time in operation, and generate at least $10 million in revenue for most financing options, but you may be able to offer collateral and make qualifying easier.

How Long Do You Have to Pay a Business Loan Back?

On average, repayment terms range from 5 to 10 years for most business loans and from 6 to 25 years for SBA loans. However, your specific repayment should be tailored to your specific needs, especially if you’re seeking to borrow a substantial amount of capital.

Defaulting on a business loan can create a seriously constricting situation for you and your business, so make sure to plan out your repayment before you sign your name on the dotted line. 

Can You Write Off a Business Loan?

Yes, you can write off the interest payments you make on a business loan. You can also strengthen your credit score by making consistent and timely payments, too, so make sure to keep track of your repayments over the course of your loan to ensure you’re able to write off every penny you can.

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National Business Capital is the #1 FinTech marketplace offering small business loans and services. Harnessing the power of smart technology and even smarter people, we’ve streamlined the approval process to secure $2 billion in financing for small business owners to date.

Our expert Business Financing Advisors work within our 75+ Lender Marketplace in real time to give you easy access to the best low-interest SBA loans, short and long-term loans and business lines of credit, as well as a full suite of revenue-driving business services.

We strengthen local communities one small business loan at a time. For every deal we fund, we donate 10 meals to Feeding America!