Getting started

Your path to SBA funding, step by step

Most SBA applications that fail were not ready when they were submitted. Here is how to make sure yours is.

1
Learn how SBA loans work

SBA guarantees part of loans made by banks and other lenders. Each program suits different needs; start by understanding which one fits what you want to buy.
Compare SBA programs
2
Find out where you stand

Before you speak to a lender, see your business the way they will. The Readiness Report scores five areas, checks eligibility and lists the red flags to fix.
Get my Readiness Report
3
Close the gaps

Work through your plan: records, statements, tax filings, credit and a clear loan request. Templates and kits make each piece faster.
Browse templates
4
Assemble your package and talk to lenders

With your documents organized, approach two or three lenders active in your program and loan size, and compare their offers.
Compare lenders

The basic requirements

Every SBA business loan program starts with these checks. They are pass-or-fail: a strong application cannot make up for missing one.

An operating, for-profit business located in the United States
Small under SBA size standards for your industry
Not an ineligible business type (for example lending, passive real estate, gambling)
Every owner and required guarantor a U.S. citizen or U.S. national living in the U.S. (SOP 50 10 8.1)
No delinquent federal debt, such as a past-due SBA or student loan
Unable to get the same credit on reasonable terms without SBA help
Able to show the business can repay the loan

Applying before the numbers work
If cash flow does not cover a new payment with room to spare, the answer will be no. Fix margins first.
Statements that do not match tax returns
Lenders compare your P&L and balance sheet with your returns and bank statements. Differences stall files.
Mixing personal and business money
It hides what the business really earns. Separate accounts and give them a few clean months.
A vague loan request
Know the exact amount, what each part pays for, your cash injection and how you will repay.
Ignoring eligibility
Ownership, industry and federal debt rules are pass-or-fail. Check them before anything else.
Talking to only one lender
SBA lenders differ in appetite, speed and fees. Compare at least two or three.

From a complete application to funds, many SBA loans take one to three months. Preparation time depends on where you start.

Stage 1 · Weeks to months

Preparation

Get records, statements, tax filings and your loan request in order. This is the part you control.
Stage 2 · 1 to 2 weeks

Application

Submit your package to a lender and answer their follow-up questions.
Stage 3 · 2 to 6 weeks

Underwriting

The lender reviews your file, orders appraisals or valuations if needed, and requests SBA approval where required.
Stage 4 · 1 to 3 weeks

Closing

Sign loan documents, meet any closing conditions and receive funds.

Timelines vary by lender, program and how complete your file is.

Fifteen questions, about six minutes. See your score, program match and what to fix first.