SBA loan approval process and guidelines

SBA loan approval guidelines

Contrary to what many people think, the Small Business Administration (SBA) does not typically make loans directly to small business borrowers. Instead, it guarantees up to 90% of these loans to the lending banks that make them in order to reduce the bank's risk in providing low-cost capital to small businesses. In turn, the SBA requires small businesses to provide a comprehensive application package to demonstrate their ability to repay the loan.

The SmartBiz process

SmartBiz helps you assemble your SBA loan application before it is sent to one of our preferred SBA banks for review and funding. Approximately 90% of all loans referred to our bank network get funded. Throughout the application process, your dedicated Relationship Manager is available to guide you as you upload the required documentation and provide ongoing feedback on your progress.

Once your application is approved by the bank, funds can be deposited into your bank account in as fast as seven days.

The traditional SBA loan application process can take several months of hard work and still end up with a “no.” Instead, we help reduce the application time and difficulty significantly while increasing the likelihood of getting your application to a “yes.” Find out more information on small business loans and apply today.

Learn more about SBA loans

SBA Loan Overview

Start here and discover more about SBA loans and how they help small businesses.

SBA Loan Requirements

Find out which types of businesses can be eligible for an SBA loan from banks in the SmartBiz network. 

SBA Loan Rates & Fees

Current interest rates, how they work, and other fees and costs associated with SBA loans.

SBA Use of Funds

How you can use SBA loan proceeds to save money and grow your small business.