SBA Loans
SBA Loans are government-backed loans for businesses. They have eligibility requirements and work with specific lenders to reduce lender risk.
How To Apply For An SBA Loan?
In order to apply for an SBA loan, you should follow these steps:
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Check your eligibility
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Choose the right program for your business
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Research trusted SBA lenders
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Prepare your documentation
If you are unsure if your business will qualify for an SBA loan, it’s best to reach out to a trusted lending partner to discuss your options and potential eligibility.
The SBA’s requirements include:
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Good to excellent personal credit
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For-profit business
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No previous delinquencies on government loans
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Must be in business for at least 3 years
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Must be considered a ‘Small Business’ from the SBA
What Is a SBA 7A Loan?
A SBA 7(a) loan is the primary product from the SBA. It isn't a loan directly from the SBA, rather, the SBA helps small business owners secure loans by guaranteeing a portion of the amount borrowed, capping interest rates, and limiting fees. Generally qualified business owners can use a 7(a) for any business purpose.
What Is an SBA 504 Loan?
SBA 504 loans are generally used for buying fixed assets like equipment or real estate, which ultimately acts as collateral for the loan itself. This program may require a down payment and are made available through Certified Development Companies (CDC’s) not lenders.
What Do You Need To Qualify?
3+ Months in Business
You can qualify for our top financing options with as little as 3 months in business.
$60,000 in Annual Gross Sales
Minimum $60,000 in Annual Gross Sales
675+ Credit Score Required
We have financing options for all credit profiles. To qualify for funding from the SBA, a 675+ credit score is required.