SBA Loans
- Get Working Capital at Very Affordable Terms
- Several Loan Programs Available
- Startup Loans up to $50,000
- Loan Amounts up to $5,000,000
- Good Personal or Business Credit Required
- Interest Rates Around Prime + 2.75%
SBA loans are loans originated by individual banks and other lending institutions that are guaranteed by the Small Business Administration (SBA). The SBA does not originate the loan directly.
There are several types of SBA loans, including 7(a), 504, microloans, and disaster loans. The two most popular loan programs are the 7(a) and microloan programs. Qualifying for an SBA loan is not that easy. You or your business need to have very good credit, and for a standard 7(a) loan, your business must be established for at least two years, and meet overall fundability requirements (See our Services section for details on fundability compliance).
We work with several lenders who are very experienced in originating SBA loans. The interest rate is typically around Prime + 2.75%. If you are a small startup business or non-profit, you may qualify for up to $50,000 in startup funds from the SBA. The 7(a) loans provide a maximum funding amount of $5 million which can be put towards a wide range of business expenses, including for working capital, refinancing debt, making major purchases, and other expenses. For the larger loan amounts, Lenders will typically look into your FICO score and your FICO Small Business Scoring Service℠ (SBSS℠). For the best approval odds, your personal credit score should be at least 680 or higher. Your FICO SBSS should be no less than 140 – and the higher the better.