Applying for a 7(a) loan involves several steps. First, the business owner must prepare a comprehensive business plan, including financial statements and projections. Next, they need to find an SBA-approved lender. The lender will review the application and submit it to the SBA for approval. The SBA may request additional documentation or clarification during this process. Once approved, the loan funds are disbursed, and the business owner begins repayment according to the agreed-upon terms.