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SBA Loan

An SBA loan is any business loan backed by a guarantee from the Small Business Administration, which establishes guidelines for banks to follow when funding and assumes responsibility for repayment to the bank in the event of default. By backing these loans, the SBA incentivizes bank and non-bank lenders to offer financing that would otherwise be deemed too risky to provide. Though there are many different types of SBA loans, Bizfundingfinder specifically works with 7(a) and Express SBA loans. SBA loans can come with great rates and long terms, but may require collateral, use of funds stipulations and extensive application documents. The COVID-related EIDL and PPP programs were an extension of SBA funding, though these programs are no longer available as of the time of writing.

Who Can Benefit From an SBA Loan?

Any business owner looking for working capital can benefit from an SBA loan. SBA loans are not ideal for merchants on a time crunch, however, as they can take several weeks or even months to complete.

Do I Qualify for an SBA Loan?

SBA loans can have steeper requirements and longer approval processes than other forms of alternative financing, but you may be able to qualify, and our team can help you find out if you!

How Do I Apply for an SBA Loan?

To apply for an SBA loan, just complete our quick and simple  online application and upload your three most recent business bank statements. Once received, a member of our staff will contact you to review and discuss your financing options and obtain the additional documents needed for an SBA loan application, which may include but are not limited to documents such as two years of personal and business tax returns, financials (Profit & Loss Report, AR Report, Balance Sheet and Debt Schedule).