How to Apply for an SBA Loan: Step-by-Step Guide

Complete guide to the SBA loan application process, from eligibility check to funding. Follow these steps to maximize your approval chances.

30-90 Days
Typical Timeline
85%
SBA Guarantee
9.5-10.5%
Typical Rates
Step 11-2 days

Check SBA Loan Eligibility

Verify your business qualifies for SBA financing

  • •Business must be for-profit and meet SBA size standards
  • •Operate primarily in the United States
  • •Owner must have invested equity in the business
  • •Demonstrate good character and credit history
  • •Show ability to repay the loan
Check Eligibility →
Step 21-3 days

Choose Your SBA Loan Program

Select the right SBA loan type for your needs

  • •SBA 7(a): Most popular, up to $5M, flexible use
  • •SBA 504: Real estate/equipment, up to $5.5M, fixed rates
  • •SBA Express: Fast approval, up to $500K, expedited process
  • •Compare rates and terms across programs
Compare Loans →
Step 31-2 weeks

Prepare Required Documents

Gather all necessary paperwork for your application

  • •Business financial statements (3 years)
  • •Personal financial statements for owners (20%+ ownership)
  • •Business and personal tax returns (3 years)
  • •Detailed business plan with financial projections
  • •Bank statements (6-12 months)
  • •Legal documents (articles, licenses, contracts)
Document Checklist →
Step 43-7 days

Find an SBA Preferred Lender

Choose a lender experienced with SBA loans

  • •SBA Preferred Lenders can expedite approval process
  • •Compare rates, terms, and fees from multiple lenders
  • •Look for lenders experienced in your industry
  • •Consider local vs. national lenders based on your needs
Find Lenders →

Complete Document Checklist

Business Documents

  • Business financial statements (profit & loss, balance sheet)
  • Business tax returns (3 years)
  • Business bank statements (6-12 months)
  • Detailed business plan with projections
  • Articles of incorporation or organization
  • Business licenses and permits
  • Franchise agreements (if applicable)

Personal Documents

  • Personal financial statements (all owners 20%+)
  • Personal tax returns (3 years)
  • Resume for all key principals
  • SBA Form 912 (Personal History Statement)
  • Copy of driver's license
  • Personal bank statements (3 months)
  • Schedule of real estate owned

Pro Tips for SBA Loan Approval

Before You Apply

  • • Improve your credit score to 650+ for better rates
  • • Prepare a comprehensive business plan
  • • Organize all financial documents
  • • Calculate your debt service coverage ratio

During the Process

  • • Respond quickly to lender requests
  • • Be transparent about business challenges
  • • Work with an experienced SBA lender
  • • Keep business operations stable

Ready to Start Your SBA Loan Application?

Use our calculators to estimate your loan payments and connect with qualified SBA lenders.

Calculate PaymentsConnect with Lenders

Important Government Disclaimer

SBA Calculators is NOT affiliated with, endorsed by, or connected to the U.S. Small Business Administration (SBA), any federal agency, or any government entity.

This website is privately operated and provides educational financial calculators for planning purposes only. All calculations are estimates and actual loan terms may vary significantly.

Use of our calculators creates no obligation. We may connect you with qualified private lenders, but we do not guarantee loan approval, specific terms, or rates.

This website does not constitute financial, legal, or professional advice. Always consult qualified professionals regarding your specific situation.