SBA Loans

To qualify for an SBA loan, your business must be for-profit, operate in the U.S., have invested equity, and have exhausted other financing options. You'll typically need a credit score of 650+, at least 2 years in business (though startups may qualify for certain programs), and demonstrated ability to repay the loan.

Timeline varies by program. SBA Express loans can be approved in 36 hours with funding in 2-4 weeks. Standard SBA 7(a) loans typically take 6-10 weeks from application to funding. SBA 504 loans may take 60-90 days due to their structure involving a CDC (Certified Development Company).

SBA 7(a) is the most flexible program—use funds for almost any business purpose including working capital, equipment, and real estate. SBA 504 is specifically designed for major fixed assets like commercial real estate and heavy equipment, offering lower down payments (10%) and fixed interest rates on the CDC portion.

SBA loans typically require collateral, but the SBA won't decline a loan solely due to insufficient collateral if the business demonstrates strong cash flow and ability to repay. For loans over $25,000, lenders will take a lien on available business assets. Personal guarantees are required from anyone owning 20%+ of the business.

Yes, but it's more challenging. Startups can qualify for SBA loans with a strong business plan, industry experience, good personal credit, and sufficient collateral or down payment. Franchise financing is often easier for startups since the business model is proven. We can help evaluate your startup's eligibility.

Common requirements include: 3 years of business and personal tax returns, year-to-date financial statements, business debt schedule, personal financial statement (SBA Form 413), business plan (for startups), and business licenses/registrations. We'll provide a complete checklist based on your specific situation.