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General Information on SBA Loans
All SBA loan programs lend to small businesses unable to secure financing on
reasonable terms through normal lending channels. The loan programs are operated
through private-sector lenders that provide loans which are, in turn, guaranteed
by the SBA -- the Agency has no funds for direct lending or grants. Most
private lenders (banks, credit unions, etc.) are familiar with SBA loan programs
so interested applicants should contact their local lender for further
information and assistance in the SBA loan application process. [Many
States offer small business grants.]
Here you will find brief descriptions of the primary loan programs available through funding from the U.S. Small Business Association (SBA). For detailed information, including qualifications, allowable uses of funds and interest rates, click on "Complete loan information from SBA."
7(a)
Loan Guaranty Program
One of the SBA's primary loan programs, 7(a) offers loans of up to $2,000,000.
(The maximum dollar amount the SBA can guaranty is generally $1 million.)
Complete loan information from SBA
Certified
Development Company (CDC), a 504 Loan Program
Provides long-term, fixed-rate financing to small businesses to acquire real estate or machinery or equipment for expansion or modernization. Typically a 504 project includes a loan secured from a private-sector lender with a senior lien, a loan secured from a CDC (funded by a 100 percent SBA-guaranteed debenture) with a junior lien covering up to 40 percent of the total cost, and a contribution of at least 10 percent equity from the borrower.
Complete loan information from SBA
Microloan
Program
This new program offers loans of up to $35,000 to qualified start-up,
newly established, or growing small business concerns. Loans are arranged
through nonprofit community based lenders (intermediaries) which, in turn, make
loans to eligible borrowers. The entire Microloan process is handled on the
local level, but you must go to one of the local
intermediaries to apply.
Complete
loan information from SBA
Targeted
Loan Programs
Besides the general programs described above, the SBA offers several loans
designed to meet specific needs. For complete information, just click on the
program titles.
Gulf Opportunity Pilot Loan (GO Loan) Program
The U.S. Small Business Administration is initiating a one year Gulf Opportunity Pilot Loan (GO Loan) Program to expedite small business financing to those communities severely impacted by Hurricanes Katrina and Rita. Under this unique initiative, the Agency will provide its full guaranty and streamlined and centralized loan processing to qualified lending partners that agree to make expedited SBA 7(a) loans available to small businesses located in those disaster areas.
Complete
loan information from SBA
Other SBA Loans
For complete information on the loan programs shown above, as well as other more
specialized loans available through the SBA, see:
Financing Your Business -
from the SBA.
Veterans & Disabled Persons? -- Unfortunately, the SBA has not been granted funds to offer special loan programs to assist either veterans or disabled persons. However, individuals of both groups are eligible for all SBA loan guaranty programs. In addition, veterans are eligible for special consideration under SBA's guaranty loan programs. The special consideration given veterans includes: Liaison personnel in each field office; In-depth management counseling and training assistance; and, Prompt and priority processing of any loan application.
What About Business Size?
Of course, not every
business is a "small" business. To be eligible for SBA loans,
your business must meet certain size restrictions.
Next page > Business Size Limitations > Page 1, 2, 3, 4, 5
