An SBA loan is not a loan from the Small Business Administration. It is a loan from a bank or approved lender, partially guaranteed by the SBA, which is what lets the lender approve longer terms and lower down payments than a conventional loan would allow.
The two common programs are 7a, used for working capital, equipment, acquisition, and some real estate, and 504, used for owner occupied commercial property and heavy equipment. Which one fits depends on the use of funds, not on your preference.
Lenders will ask for business and personal tax returns, year to date financials, a debt schedule, bank statements, and a clear statement of how the money will be used and repaid. The stronger and more complete that package is on day one, the faster the process moves.
Realistic timelines run from about 30 days for a straightforward working capital request to 60 to 90 days for real estate. Most delays come from missing documentation, not from underwriting.
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