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SBA Loans

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What is an SBA Loan?

An SBA loan is a small business loan partially guaranteed by the U.S. Small Business Administration (SBA), an agency that aids entrepreneurs and small enterprises. These loans are provided by participating lenders, usually banks, and are designed to help businesses that may not qualify for traditional financing. SBA loans can offer lower down payments, longer repayment terms, and easier qualification criteria compared to conventional loans, making them an attractive option for many small businesses.

Minumum Requirements for an SBA Loan

To qualify for an SBA loan, businesses must meet certain criteria, including being classified as a small business, having been operational for a specific period, demonstrating profitability, and possessing a strong credit history.

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Business Size

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Operating Time

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Profitability

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Good Credit

What Documents Are Needed To Apply?

  • Drivers License

  • Voided Business Check

  • Bank Statements 

  • Balance Sheet

  • Profit and Loss Statements

  • Business Tax Return

  • Personal Tax Return

  • Business Plan

  • Business Debt Schedule

Get loan options from multiple lenders

Talk to a business loans specialist at:

(855) 536-3835

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Types of SBA Loans

There's an SBA loan solution to cater to virtually every facet of your small business, with popular options including the 7(a), 504, and SBA Microloan programs.

SBA 504

Used For:

Fixed assets such as land, a building or machinery

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Interest Rate

4.63% 10-year

4.51% 20-year

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Term Length

10-20 years

Max Loan Amount

$5 Million

Apply

SBA 7(a)

Used For:

Working capital, debt refinancing or to purchase business assets

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Interest Rate

5.75-8.25% variable rate

8.5-11.5% fixed rate

 

Term Length

5-10 years

Max Loan Amount

$5 Million

Apply

SBA Microloans

Used For:

Working capital or to purchase inventory and equipment

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Interest Rate

6-9%

 

 

Term Length

Up to 6 years

Max Loan Amount

$50,000

Apply

Apply for an SBA Loan in as little as 10 minutes.

1. Complete your application

Answer a few question about your business and your personal loan preferences so we can match you to the lender offering the best rates and terms for your needs.

2. Speak to our underwriter

Meet your personal underwriter here to ensure we have all the documents and information we need to ensure we get you the best options for your business in the shortest amount of time.

3. Review your loan options

Check out the loan options available for your business, choose the one that makes the most sense for you at this time

4. Receive funds

Once you decide what works best, we'll have the capital in your account in less than 24 hours

Benefits of an SBA Loan

  • Take advantage of competitive interest rates to save on costs.

  • Benefit from reduced down payment requirements—no down payment for 7(a) loans $350,000 and under, and a mere 10% for 504 SBA loans.

  • Leverage the government-backed guarantee to secure larger loan amounts.

  • Refinance higher-cost loans that have contributed to your business credit growth.

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Why Use Lendtek for your SBA Loan?

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$100M Funded to Small Businesses Throughout the US​

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75+ Lenders in our marketplace

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5000+ Loans Funded over 9 years

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