Overview

Getting a Small Business Administration (SBA) loan is the ideal choice for financing your business without incurring too much debt. While issued by private lenders, they're guaranteed by the federal agency which make SBA loans one of the more affordable loan options with the lowest rates.

While documentation requirements are more extensive than alternative loans, an SBA loan may be a worthwhile option for those who qualify.

For a more in-depth view of SBA loans, check out our free SBA Loan Guide.

Features

SBA Express Financing

• Amounts from $30,000 to $150,000 available in days

• Prime Rate + (3.75%)

• Minimal documentation (no cash flow requirement):

  • 2 years of business tax returns

  • 1 year of personal tax returns

• 10-year term with no prepayment penalty

SBA 7(a) Loan

• Amounts from $30,000 to $5,000,000

• Prime Rate + (2.75% to 3.75%)

• 10-year term with no prepayment penalty

Basic Qualifications

• 660+ FICO Score (700+ for SBA Express)

• 2 Years in Business

• Minimum $150,000 in Gross Annual Sales