SBA Loans – 3 Important Programs & How To Qualify Your Small Business

SBA Loans are among the most affordable types of financing available to small businesses.
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At LendGenius, it’s our mission to demystify the world of business lending to make financing more accessible to small business owners like you.

No matter what business you’re in, by the end of this video, you’ll have a solid understanding of SBA Loans: what they are, why they exist, who they’re for, and most importantly, how to get one.

The Small Business Administration is a government body that exists to support entrepreneurship in America.

It backs third-party loans for growth activities like purchasing inventory or equipment, buying real estate, and acquiring other businesses.

With rates as low as 6% & terms as long as 25 years, SBA loans are among the most inexpensive forms of financing available to small business owners.

Applicable for many general business needs, the General SBA 7(a) Loan Program is a broad and well-known category providing flexible loan guarantees up to $5 million.

There are also Real Estate & Equipment Loans via the CDC/504 Loan Program, which helps business owners obtain property and other tangible assets with a favorable low down-payment, fixed interest rates, and long repayment periods.

And then there’s The Microloan Program, which is perfect for businesses that are looking for a loan of $50,000 or less to be used towards machinery, furniture, inventory, or supplies.

Let’s not forget about the Disaster Loan Program which provides low-interest loans to replace or repair property, machinery, equipment, or inventory damaged in a disaster.

But how do you qualify for an SBA Loan?

The first thing you’ll have to do is complete an SBA Loan Application and eventually you’ll also be asked to produce financial documents, tax returns, legal documentation, and a business plan.

Requirements may vary depending on which program you’re applying for, but don’t worry, not all SBA lenders need this much documentation.

You’ll have a great chance of getting approved for an SBA Loan if you:

– Have a strong credit score
– Pledge collateral in the form of property or equipment
– Keep detailed financial records showing strong cash flow
– and produce a thoughtful business plan.

Even if you meet all the qualifications, prepare for a time-consuming application and at least one month for SBA Loan approval.

SBA Loans offer the lowest interest rates and longest repayment terms on small business financing – but that doesn’t mean they’re right for everyone.

Check all your options at to know for sure you’re getting a good price on working capital.

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We’ve created a free platform that allows you to pre-qualify for funding with one simple form, and compare multiple business loans side-by-side.

Now That’s Genius.

Learn more about LendGenius and how we can help your business. –


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