Online SBA loans for small businesses: financing backed by SBA
With low APRs and a wide range of use cases, SBA funding programs* can be a great option for small business owners.
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approved in as soon as
2 hours
Billion in financing
As fast as 4 hours
As fast as 2 hours
Small businesses financed
Get SBA financing with confidence
What you can get with an SBA 7(a) loan:
- Favorable rates and terms.
- Flexibility in use, from acquiring real estate to equipment purchases.
- Be matched with a lender in the 7(a) Loan Program according to your needs.
Requirements to qualify
While requirements will vary by lender, you will generally need to:
- Be an operating business.
- Operate for profit.
- Be located in the U.S.
- Be small under SBA Size Requirements.
- Not be a type of ineligible business.
- Not be able to obtain the desired credit on reasonable terms from non-Federal, non-State, and non-local government sources.
- Be creditworthy and demonstrate a reasonable ability to repay the loan.
- Check the SBA website for additional terms, conditions and eligibility.
Recognised as “Best for Short-Term Loans” by industry experts.
An SBA loan is a type of financing that’s backed by the Small Business Administration. While these loans are financed by private lenders for small business, the SBA guarantees up to 85 percent of the loan.
SBA loans are typically more difficult to qualify for but offer low rates, favorable terms, amongst other benefits. From 7(a) loans and microloans to disaster loans and debt consolidation, SBA loan programs come in many different forms. Credibly can help you navigate your options.
Pros and cons of online SBA loans
01 Apply online
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02 Gather required documents
We require certain documents from you in the approval process. Be ready with bank statements and a government-issued ID to start.
03 Approval in as little as 4 hours
Your loan application will be reviewed and you can get approved in as fast as 4 hours.
04 Receive same-day funding
If approved, your requested loan amount can be transferred to your bank account as soon as the same business day.
Is a small business working capital loan right for your business?
Pros
- SBA loan rates and terms can be more favorable as they’re federally-backed.
- SBA Loan programs offer both small and large funding amounts for optimal coverage.
- Businesses typically not approved for traditional bank loans could qualify for SBA loans.
- With larger loan amounts and low rates, these small business loans can be ideal for growth initiatives.
Cons
- SBA loan applications are more strict and time-consuming than applications for other term loans or working capital products and can take months to get approved.
- The borrower may be required to make a down payment.
- Collateral may be required and low-credit applicants may not be approved.
- Time to receive funds is slower, which means that SBA financing may not be a good fit for certain business needs.
Frequently asked questions about SBA backed loans
Who qualifies for an SBA loan?
How long does it take for an online SBA loan to be approved?
SBA 7(a) loans typically take two to three months to be approved but if you are working with an SBA Preferred Lender, your application may be approved much faster, relatively speaking.
What credit score is needed for an SBA financing?
Apply for business financing up to $600,000
Find out how much you qualify for.
Applying will not hurt your credit score.