An SBA Loan is a government backed loan that can be used to start or expand a business. The loan has certain requirements for eligibility, such as size standards, proving the ability to repay the loan and solid business purpose. The SBA works with specific lenders to offer their programs which eliminate the risk from the lender since they are backed by the government.

To learn more about an SBA Loan and if it’s a right fit for your business, complete our 15-second online application to speak with a business financing advisor today.

In order to apply for an SBA loan, you should follow these steps:

1. Check your eligibility
2. Choose the right program for your business
3. Research trusted SBA lenders
4. Prepare your documentation

If you are unsure if your business will qualify for an SBA loan, it’s best to reach out to a trusted lending partner to discuss your options and potential eligibility.

The SBA’s requirements include:

• Good to excellent personal credit
• For-profit business
• No previous delinquencies on government loans
• Must be in business for at least 3 years
• Must be considered a ‘Small Business’ from the SBA

SBA 7(a) may be available if your business does not meet the minimum time in business or credit score requirements. To learn more complete our 15-second online application today.

A SBA 7(a) loan is the primary product from the SBA. It isn’t a loan directly from the SBA, rather, the SBA helps small business owners secure loans by guaranteeing a portion of the amount borrowed, capping interest rates, and limiting fees. Generally qualified business owners can use a 7(a) for any business purpose.

Rc Funding has access to a wide variety of SBA Loans. To explore your options, complete our 15-second online application.

SBA 504 loans are generally used for buying fixed assets like equipment or real estate, which ultimately acts as collateral for the loan itself. This program may require a down payment and are made available through Certified Development Companies (CDC’s) not lenders.

Learn more about Rc Fundng SBA loans by completing our 15-second online application.