SBA Loans for Attorneys: Tips for Growing Your Practice
Offices of Lawyers (NAICS Code: 541110) ranked #11 in our latest research on the top 20 performing industries for SBA financing over the last decade. During this period, attorneys received more than 5,800 SBA 7(a) loans totaling roughly $1.15 billion. Attorneys find the 7(a) Program to be one of the most attractive options for financing as a result of the flexibility surrounding the permissible uses of proceeds, such as continuing legal education, refinancing existing debt and working capital to cover case expenses.