SBA loans are government-backed, offering lower interest rates and more generous repayment terms than conventional loans.
Our SBA specialists, underwriting, and closing teams ensure your application is processed efficiently with a higher likelihood of approval.
SBA loans are subject to predefined maximum rates, making the interest more affordable.
Repayment schedules range from five to 25 years, providing a lot of flexibility for borrowers.
SBA loans are partially guaranteed, reducing lenders' risk and increasing approvals.
SBA Loans are partially guaranteed by the U.S. Small Business Administration (SBA), with lower interest rates and more flexible terms than conventional loans.
SBA loans are suitable for most business purposes.
Lenders’ SBA loan requirements will vary, but the following are the minimum criteria across all programs.
SBA Loans are backed by the Small Business Administration (SBA), a government agency that supports small businesses, offering lower interest rates and more flexible terms than conventional loans. You apply for SBA loans through a private lender or broker, like 1st Capital Financial.
When you apply for an SBA loan, you may be asked to provide the following documents:
- Personal Background Statement
- List of Business Loans You’ve Applied For
- SBA Form 1919 (“Borrower Information Form”)
- SBA Form 413 (“Personal Financial Statement”)
- Copies of Financial Statements
- Copies of Income Tax Returns
- Copies of Business License(s) and Registration(s)
- Copies of Articles of Incorporation and Bylaws, or Operating Agreement
- Copy of Business Plan
The minimum down payment for an SBA 7(a) Loan, Express Loan, or 504 Loan is 10%. However, down payments will vary based on creditworthiness, cash flow, collateral, and other factors.
Once approved for an SBA loan, you will typically receive your funds in 30 to 60 days.
SBA loans are more challenging to qualify for than some alternative financing options. However, they’re also easier to qualify for than conventional loans. SBA lenders and brokers tend to be more accommodating than most banks.
SBA disaster loans are a long-term, low-interest financing option for businesses negatively impacted by a natural disaster such as a wildfire or hurricane. For example, those affected by recent wildfires and straight-line winds in Los Angeles County, California, may be eligible for a Physical Disaster Loan and a Non-Covid Economic Injury Disaster Loan (EIDL). Businesses in the neighboring counties of Kern County, Orange County, San Bernardino County, and Ventura County may be eligible for a Non-Covid EIDL loan.
Start your SBA application today so that you can focus on what matters most for your small business.
Start Your SBA Application