CFR > Title 13 - Business Credit and Assistance > CHAPTER I—SMALL BUSINESS ADMINISTRATION > PART 120—BUSINESS LOANS > SUBPART B—Policies Specific to 7(a) Loans (§120.200 to §120.223) > 120.212—What limits are there on loan maturities?

120.212—What limits are there on loan maturities?

The term of a loan shall be:
(a) The shortest appropriate term, depending upon the Borrower's ability to repay;
(b) Ten years or less, unless it finances or refinances real estate or equipment with a useful life exceeding ten years; and
(c) A maximum of 25 years, including extensions. (A portion of a loan used to acquire or improve real property may have a term of 25 years plus an additional period needed to complete the construction or improvements.)