{"data":{"id":"us/13-cfr-120.212","jurisdiction":"us","citation":"13 CFR 120.212","heading":"What limits are there on loan maturities?","body":"The term of a loan shall be:\n(a) The shortest appropriate term, depending upon the Borrower's ability to repay;\n(b) Ten years or less, unless it finances or refinances real estate or equipment with a useful life exceeding ten years. The term for a loan to finance equipment and/or leasehold improvements may include an additional reasonable period, not to exceed 12 months, when necessary to complete the installation of the equipment and/or complete the leasehold improvements.\n(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.)","path":["Title 13—Business Credit and Assistance","CHAPTER I—SMALL BUSINESS ADMINISTRATION","PART 120—BUSINESS LOANS","Subpart B—Policies Specific to 7(a) Loans"],"source_url":"https://www.ecfr.gov/api/versioner/v1/full/2026-08-25/title-13.xml","current_through":"2026-08-25","vintage":"","retrieved_at":"2026-08-27T02:24:18Z","sha256":"cb813727eb64bd333b72669d71f26fd477359b8d7dbb13d363576d153ffdd04c","source_id":"us-cfr","stale":true,"prev":"us/13-cfr-120.211","next":"us/13-cfr-120.213"},"notice":"GroundRules: Original legal text. Not legal advice."}