# Ready Capital

A non-bank SBA lender, nationwide, $350k up.

A non-bank SBA Preferred Lender writing 7(a) loans from $350k to $5M in all fifty states, naming business acquisition, partner buyouts, and franchise acquisition among its uses, and writing the eighth most change-of-ownership loans in the country.

- Category: SBA & Acquisition Lenders
- Pricing model: Custom Pricing
- Where it fits: Set Up & Fund the Search, Diligence & Close the Deal
- Website: https://readycapital.com/loan-programs/small-business/sba-7a/

## At a Glance

The nationwide option when the regional banks do not reach you; price it against a bank, because its average rate sits above the median.

## What It Costs

Loan products, no fee to engage. The 7(a) runs from $350,000 to $5,000,000 with terms up to twenty-five years, and the lender states limited or no prepayment penalties with closing costs financeable. No rates or fees are published; its average initial rate on change-of-ownership loans in the federal file is above the median for active acquisition lenders, so ask early.

## Best For

A buyer outside the regional banks' footprints, or one buying out a partner, who wants a nationwide lender that already writes acquisitions at this size

## Pros and Cons

- Pro: The only non-bank on this shelf, and a [Preferred Lender](https://searchspheresource.com/glossary/preferred-lender-program), so the credit decision does not wait on a bank's branch relationship or on a second SBA review
- Pro: Lends in all fifty states, which matters because several of the most active acquisition lenders are regional
- Pro: Names business acquisition, partner and shareholder buyouts, and franchise acquisition as eligible uses on its own [7(a)](https://searchspheresource.com/glossary/sba-7a) page, three of the shapes a [searcher](https://searchspheresource.com/glossary/searcher)'s deal actually takes
- Pro: Wrote 81 [change-of-ownership](https://searchspheresource.com/glossary/change-of-ownership) loans in FY2025 totaling about $183M, computed here from the SBA's own loan file, so the volume is verified rather than claimed
- Pro: States limited or no [prepayment penalties](https://searchspheresource.com/glossary/prepayment-penalty) and that closing costs may be financed, both of which change the real cost of the loan
- Con: Its average initial rate on change-of-ownership loans runs about a point above the median for active acquisition lenders, which on a million-dollar loan is real money every month
- Con: A $350,000 minimum, so the smallest main-street purchases are out
- Con: Publishes no rates or fees, so the comparison has to be made on [term sheets](https://searchspheresource.com/glossary/term-sheet)
- Con: No Searchfunder or Reddit thread discusses the lender, so there is no practitioner account of how it handles a [search-fund](https://searchspheresource.com/glossary/search-fund) file

## What Searchers Say

Loan counts, dollars, and the average initial rate are computed here from the SBA 7(a) loan-level file. Non-bank status, Preferred Lender status, loan range, term, footprint, and the named eligible uses are from the lender's own 7(a) page.

## Sources

- https://readycapital.com/loan-programs/small-business/sba-7a/
- https://readycapital.com

Also on this site: https://searchspheresource.com/resources/category/lender.md
Source: https://searchspheresource.com/resources/ready-capital
Last checked: 2026-07-28

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