SBA Loans

The U.S. Small Business Administration (SBA) assists small business owners with starting and expanding their businesses by helping them get loans through private banks and financial institutions. SBA offers a number of low-interest loan programs for business owners who may be having difficulty getting traditional bank loans.

To apply for an SBA loan, you need to visit your local participating bank or lending institution. When you apply for an SBA loan you are actually applying for a commercial loan, structured according to SBA requirements, which receives an SBA guaranty. This guaranty is portion of the loan the SBA will pay back to the lender should you default on your loan payments.

To get a list of SBA lenders in your area, contact your SBA District Office.

SBA’s Financial Assistance Guide describes SBA loan programs, including eligibility requirements, and how to apply for them.

The SBA Loan Application Checklist provides a listing of forms and documents you and your lender will need to create a loan package to submit to SBA.

The following are direct links to information about commonly requested SBA programs:

Starting and Expanding Businesses

• Basic 7(a) Loan Program

  For starting, acquiring and expanding a small business, 7(a) loans are the most basic and most used type loan of SBA’s business loan programs. Borrowers must apply through a participating lender institution.

• Certified Development Company (CDC) 504 Loan Program

  The CDC/504 loan program provides growing businesses with long-term, fixed-rate financing for major fixed assets, such as land and buildings.

• Microloan Program

  Provides very small loans to start-up, newly established, or growing small business concerns. SBA makes funds available to non profit community based lenders which, in turn, make loans to eligible borrowers in amounts up to a maximum of $35,000. Applications are submitted to the local intermediary and all credit decisions are made on the local level.

Disaster Loans

• Disaster Assistance Loans

  If you are in a declared disaster area and are the victim of a disaster, you may be eligible for financial assistance – even if you don’t own a business.

• Economic Injury Loans

  Money to assist small businesses, small agricultural cooperatives and non profit organizations recover from economic losses resulting from physical disaster or an agricultural production disaster.

Export Assistance Loans

• Export Express

  Provides exporters and lenders a streamlined method to obtain financing for loans and lines of credit up to $250,000.  Lenders use their own credit decision process and loan documentation; exporters get access to their funds faster.  The SBA provides an expedited eligibility review and provides a response in less than 24 hours.

• Export Working Capital

  Loans targeted for businesses that are able to generate export sales and need additional working capital to support these sales.

• International Trade Loans

  Term loans designed for businesses that plan to start/continue exporting or those that that have been adversely affected by competition from imports.  The proceeds of the loan must enable the borrower to be in a better position to compete.

Audio: Patriot Express Initiative

Members of our nation’s military community now have increased opportunities to start or expand small businesses thanks to the Patriot Express Initiative.

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Veteran and Military Community Loans

• Patriot Express Pilot Loan Initiative

  SBA’s Patriot Express Pilot Loan Initiative provides financial assistance for veterans and members of the military community wanting to establish or expand small businesses.

• Military Reservist Economic Injury Disaster Loan

  This loan program provides funds to eligible small businesses to meet its ordinary and necessary operating expenses that it could have met, but is unable to meet, because an essential employee was “called-up” to active duty in their role as a military reservist.

Special Purpose Loans

• CAPLines

  CAPLines is the umbrella program under which the SBA helps small businesses meet their short-term and cyclical working-capital needs.

• Pollution Control Loans

  Provides financing to eligible small businesses for the planning, design, or installation of a pollution control facility.

• U.S. Community Adjustment And Investment Program (CAIP)

  CAIP is a program established to assist U.S. companies that are doing business in areas of the country that have been negatively affected by NAFTA. To be eligible, business must reside in a county noted as being negatively affected by NAFTA, based on job losses and the unemployment rate of the county