Tools for Business

Government SBA loans

SBA loans are funded by approved lenders. The SBA 7(a) program is the most common SBA loan. Funds may be used to: Sometimes the loans can also refinance existing debt. To qualify for a loan you cannot be a non-profit or a business involved in lending, real estate development, investments or speculation, and you cannot exceed the size requirements. These requirements depend on your type of business.

Manufacturing100 employees
Wholesaling100 employees
Services and retailing$6.5 million in receipts
Construction$31 million in receipts
Agriculture$750,000 in annual receipts

SBA requirements

Paperwork required

To apply for an SBA loan, click on the "SBA approved banks" link above. These are Preferred Lenders, who can provide a response to complete loan applications in one day. The loans can be up to 10 years for working capital; up to 25 years for fixed assets. The interest rate typically cannot be greater than prime plus 2.75%.