What Is an SBA Loan?
An SBA loan is made by an approved lender and partially guaranteed by the U.S. Small Business Administration. Because the government shares the risk, lenders can offer longer repayment terms and lower rates than most conventional business loans. SBA loans can be used for working capital, expansion, purchasing equipment or real estate, and refinancing existing debt.
A Good Fit For
- Established businesses planning a major investment
- Owners who want lower monthly payments over a longer term
- Purchasing commercial real estate or another business
- Refinancing higher-cost debt
What You'll Need
- Business and personal tax returns
- Recent business bank statements
- Year-to-date profit & loss and balance sheet
- Business licenses and ownership information
- A clear use of funds
How It Works
- Apply. Complete a short application online or by phone. It won't affect your credit score.
- Review your options. A funding specialist explains your offers, including total cost and terms.
- Get funded. Accept the option that works best for you and receive your funds.
SBA loans take longer to fund than other products, typically several weeks, because of the additional paperwork and SBA review. If you need capital sooner, we can discuss a short-term option in the meantime.