SBA funding gives you the
time, capital, and support to
build what matters most.
We help you navigate the SBA process and get approved—
without the frustration, delays, or confusion.
Startups welcome — build your dream even if your business is just beginning.
Lower monthly payments — long terms up to 25 years keep cash flow strong
Higher approval odds — we package your application so banks say yes
Business plan & projections support — we help you present your best case
Up to $5,000,000 available for working capital, acquisition, equipment, or expansion
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FINANCE AGENTS PRIVACY POLICY – A COMMITMENT TO YOUR PRIVACY
This site is owned and operated by Finance Agents. Your privacy on the Internet is of the utmost importance to us. At Finance Agents, we want to make your experience online satisfying and safe.
Because we gather certain types of information about our users, we feel you should fully understand our policy and the terms and conditions surrounding the capture and use of that information. This privacy statement discloses what information we gather and how we use it.
INFORMATION FINANCE AGENTS GATHERS AND TRACKS
Finance Agents gathers two types of information about users:
Information that users provide through optional, voluntary submissions. These are voluntary submissions to participate in our blogging site, to participate in our message boards or forums, or to gain additional information about our products and services.
Information Finance Agents gathers through aggregated tracking information derived mainly by tallying page views throughout our sites. This information allows us to better tailor our content to readers’ needs and to help our Marketing Division better understand the demographics of our audience. Because Finance Agents derives its revenue mainly from the sales of its service packages your personal information will never be given to a third party unless the third party is a direct affiliate of Finance Agents and part of the processing team.
Finance Agents Gathers User Information In The Following Processes:
Optional Voluntary Information
We offer the following free services, which require some type of voluntary submission of personal information by users:
Blogging: Users of the site’s blogging platform must register separately for these services (free of charge) in order to post blogs, although they needn’t register to visit the site. During registration the user is required to choose a username, create a password, add an email address, agree to the Terms of Service, and choose whether they want a blogging website or just a user account.
Electronic newsletters policy (Dispatches)
We may offer a free electronic newsletter to users in the near future. Finance Agents gathers the email addresses of users who voluntarily open an account (i.e. a blog or username). Users may remove themselves from this mailing list by following the link provided in every newsletter that points users to the subscription management page. Users can also subscribe to the newsletters with any customer service representative or by emailing Finance Agents at info@FinanceAgents.com.
Surveys: Finance Agents may occasionally conduct user surveys to better target our content to our audience. We sometimes share the aggregated demographic information in these surveys with our affiliated partners. We never share any of this information about specific individuals with any third party.
Children: Consistent with the Federal Children’s Online Privacy Protection Act of 1998 (COPPA), we will never knowingly request personally identifiable information from anyone under the age of 13 without requesting parental consent.
Usage tracking Finance Agents tracks user traffic patterns throughout all of our sites. However, we do not correlate this information with data about individual users. Finance Agents does break down overall usage statistics according to a user’s domain name, browser type, and MIME type by reading this information from the browser string (information contained in every user’s browser).
Finance Agents uses tracking information to determine which areas of our sites users like and don’t like based on traffic to those areas. We do not track what individual users read, but rather how well each page performs overall. This helps us continue to build a better service for you.
Cookies: We may place a text file called a “cookie” in the browser files of your computer. The cookie itself does not contain Personal Information although it will enable us to relate your use of this site to information that you have specifically and knowingly provided. But the only personal information a cookie can contain is information you supply yourself. A cookie can’t read data off your hard disk or read cookie files created by other sites. Finance Agents uses cookies to track user traffic patterns (as described above). Our advertising system delivers a one-time cookie to better track ad impressions and click rates. You can refuse cookies by turning them off in your browser. If you’ve set your browser to warn you before accepting cookies, you will receive the warning message with each cookie. You do not need to have cookies turned on to use this site. However, you do need cookies to participate actively in message boards, forums, polling and surveys.
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Finance Agents uses any information voluntarily given by our users to enhance their experience in our network of sites, whether to provide interactive or personalized elements on the sites or to better prepare future content based on the interests of our users.
As stated above, we use information that users voluntarily provide in order to send out electronic newsletters and to enable users to participate in surveys, and blogs. We may send out newsletters to subscribers on a regular schedule, and occasionally send out special editions when we think subscribers might be particularly interested in something we are doing. Finance Agents never shares newsletter mailing lists with any third parties, including advertisers, sponsors or partners.
When we use tracking information to determine which areas of our sites users like and don’t like based on traffic to those areas. We do not track what individual users read, but rather how well each page performs overall. This helps us continue to build a better service for you. We track search terms entered in Search function as one of many measures of what interests our users. But we don’t track which terms a particular user enters.
Finance Agents creates aggregate reports on user demographics and traffic patterns for our own internal use. We will not disclose any information about any individual user except to comply with applicable law or valid legal process or to protect the personal safety of our users or the public.
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Finance Agents uses the above-described information to tailor our content to suit your needs and help us understand the demographics of our clients. This is essential to keeping our service free. We will not share information about individual users with any third party, except to comply with applicable law or valid legal process or to protect the personal safety of our users or the public.
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Finance Agents operates secure data networks protected by industry standard firewall and password protection systems. Our security and privacy policies are periodically reviewed and enhanced as necessary and only authorized individuals have access to the information provided by our customers.
OPT-OUT POLICY
We give users options wherever necessary and practical. Such choices include:
Opting not to register to receive our electronic newsletters.
Opting not to participate in certain interactive areas such as the blog site, however opting out does not change the collection of personal data. The personal data collected is necessary in order to make any payouts.
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By using this site, you consent to the collection and use of this information by Finance Agents. If we decide to change our privacy policy, we will post those changes on this page so that you are always aware of what information we collect, how we use it, and under what circumstances we disclose it.
Frequently Asked Questions:
SBA Loans
How Do I qualify for an SBA Loan?
To qualify for an SBA loan, you typically need to meet the following eligibility requirements:
Business size: Your business must meet the SBA's definition of a small business, which varies by industry and is based on the number of employees or average annual revenue.
Business type: The SBA provides loans to a wide range of businesses, but some industries and business types may not be eligible..
Business ownership: You must be a U.S. citizen or legal resident and own at least 51% of the business.
Business purpose: The loan must be used for a business purpose, such as purchasing equipment or inventory, financing working capital, or expanding the business.
Creditworthiness: You must have a good personal and business credit score and a strong credit history
Collateral: Depending on the loan program, you may need to provide collateral to secure the loan.
Repayment ability: You must demonstrate the ability to repay the loan based on your business's financial projections and cash flow.
To apply for an SBA loan, you will need to provide documentation such as business financial statements, tax returns, and a business plan. The SBA lender will review your application and determine whether you meet the eligibility requirements and qualify for a loan.
What are the different types of SBA loans available?
The SBA offers several loan programs to support small businesses, each with its own set of eligibility requirements, loan amounts, and terms. Here are some of the main types of SBA loans:
7(a): This is the most popular SBA loan program, offering flexible funding for a variety of business purposes, including working capital, equipment purchase, and real estate acquisition. Loan amounts range from $50,000 up to $5 million.
CDC/504: This loan program is designed to help businesses acquire fixed assets such as equipment or real estate. It provides long-term, fixed-rate financing with low down payments and offers loan amounts up to $5.5 million.
Microloans: This program provides smaller loans of up to $50,000 for start-ups and small businesses, often with limited credit history or collateral. Microloans can be used for a range of business purposes, including working capital, inventory, and equipment.
Export: This program provides financing for small businesses that want to start or expand their export business. The loan amounts can be up to $5 million, and can be used to support export-related activities such as working capital, equipment purchase, and real estate acquisition.
Community Advantage: This program provides financing for small businesses in underserved communities. Loan amounts range from $50,000 to $250,000.
Each SBA loan program has its own requirements, application process, and terms. It's important to work with a lender that is experienced with SBA loans to determine which program is the best fit for your business.
How much money can I borrow through an SBA loan?
The maximum loan amount you can borrow through an SBA loan depends on the loan program and your business's financial needs. Here are the maximum loan amounts for some of the most popular SBA loan programs:
7(a): Up to $5 million for standard loans, and up to $350,000 for Express loans.
CDC/504: Up to $5.5 million for most borrowers.
Microloans: Up to $50,000.
Disaster: Up to $2 million for physical damage, and up to $2 million for economic injury.
Export: Up to $5 million.
Community Advantage: Up to $250,000.
In addition to the maximum loan amount, the actual loan amount you can receive will depend on factors such as your creditworthiness, business financials, and the lender's underwriting criteria. The SBA does not provide loans directly, but works with approved lenders who follow the SBA guidelines and make the final decision on loan amounts and terms.
What are the terms and interest rates for an SBA loan?
The terms and interest rates for an SBA loan vary depending on the loan program, loan amount, and the borrower's creditworthiness. Here's a general overview of the terms and rates for some of the most popular SBA loan programs:
7(a): The maximum repayment term is typically 10 years for working capital, and up to 25 years for real estate. Interest rates are based on the prime rate plus a margin.
CDC/504: The repayment term is typically 10 to 25 years for real estate or equipment, and interest rates are fixed and based on the current market rate for U.S. Treasury issues.
Microloans: The repayment term is typically up to 6 years, and interest rates range from 6.5% to 13%.
Disaster: The repayment term varies depending on the type of loan, but can be up to 30 years. Interest rates are fixed and based on the current market rate for U.S. Treasury issues.
Export: The repayment term is typically up to 10 years for working capital, and up to 25 years for fixed assets. Interest rates are based on the prime rate plus a margin.
Community Advantage: The repayment term is typically up to 10 years, and interest rates are based on the prime rate plus a margin.
It's important to note that interest rates for SBA loans are often lower than rates for traditional bank loans because the SBA guarantees a portion of the loan, which reduces the lender's risk. However, the actual interest rate you receive will depend on a variety of factors, including your credit score, business financials, and the lender's underwriting criteria.
What collateral or personal guarantees are required for an SBA loan?
Collateral and personal guarantees are typically required for SBA loans. However, the specific collateral and personal guarantee requirements vary depending on the loan program and the lender's underwriting criteria.
For SBA 7(a) loans, collateral is required to secure the loan, but the SBA typically does not require borrowers to pledge all available assets. The SBA will generally take a lien on the assets being financed and any additional collateral required by the lender. The lender will also require a personal guarantee from all owners of 20% or more of the business.
For CDC/504 loans, collateral is also required to secure the loan, and the collateral typically includes the asset being financed as well as other fixed assets owned by the business. The SBA requires a first lien on the asset being financed, and the lender may require additional collateral. The SBA does not require a personal guarantee, but the lender may require guarantees from the business owners.
For SBA Microloans, collateral requirements vary by lender, but the SBA allows lenders to accept any available collateral, including personal assets. The SBA does not require a personal guarantee, but the lender may require guarantees from the business owners.
For SBA Disaster Loans, collateral requirements vary depending on the loan amount. For loans up to $25,000, no collateral is required. For loans between $25,000 and $350,000, collateral is required if it is available. For loans over $350,000, collateral is required to the extent that it is available. The SBA also requires a personal guarantee from all owners of 20% or more of the business.
It's important to note that collateral and personal guarantee requirements may vary by lender, and lenders may have different underwriting criteria for SBA loans.
What documents do I need to apply for an SBA loan?
The specific documentation requirements for an SBA loan may vary depending on the loan program and the lender. However, here are some common documents that are typically required for SBA loan applications:
Business plan: A comprehensive business plan that outlines your business goals, products or services, market analysis, competition, financial projections, and other relevant information.
Personal financial statement: A statement of your personal assets, liabilities, and net worth. This is typically required for loans that require a personal guarantee.
Business financial statements: Financial statements that show the financial performance of your business, including Balance Sheets and Profit and Loss statements
Business tax returns: Your business tax returns for the last three years. These are not required for startups.
Personal tax returns: Your personal tax returns for the last three years.
Collateral documentation: If collateral is required for the loan, you will need to provide documentation of the collateral, such as property deeds or vehicle titles.
Business licenses and permits: Copies of any required business licenses and permits.
Legal documents: Legal documents related to your business, such as articles of incorporation, partnership agreements, or operating agreements
Bank statements: Bank statements for the past 3 - 12 months.
Résumés: Résumés of the key members of your business, including owners and managers.
It's important to note that these are just some common documents that may be required, and the specific requirements may vary by lender and loan program. It's a good idea to check with your lender to see what specific documents are required for your SBA loan application.
How long does the SBA loan application process take?
The length of the SBA loan application process can vary depending on a number of factors, including the complexity of your application, the loan program you are applying for, and the lender's processing times. In general, the SBA loan application process can take several weeks to several months to complete.
Here are some of the typical steps involved in the SBA loan application process and the estimated time frames for each step:
Preparing your application: This step involves gathering all of the necessary documentation and completing the application forms. The amount of time this step takes can vary depending on how organized your financial records are, and how quickly you are able to provide all the necessary documentation.
Submitting your application: Once you have completed your application, you will need to submit it to your lender. This can usually be done online, by mail, or in person. The time it takes to submit your application will depend on the lender's application process and the method of submission you choose.
Lender review: After you submit your application, the lender will review it to determine whether you meet their eligibility requirements. This can take anywhere from a few days to a few weeks.
SBA review: Once the lender approves your application, they will submit it to the SBA for final approval. The SBA will review your application and may request additional information or documentation. This review process can take several weeks if you are not working with a PLP lender. We only work with PLP lenders and can avoid this step.
Loan closing: Once the SBA approves your application, the lender will work with you to finalize the loan documents and disburse the funds. The time it takes to complete this step will depend on the lender's processing times and the complexity of the loan. Usually it takes a few days to about a week.
Overall, the SBA loan application process can take a few weeks to several months to complete, depending on the specific loan program and the lender's processing times. It's a good idea to work closely with your lender and be prepared to provide any additional documentation or information that may be requested during the application process.
How can I increase my chances of getting approved for an SBA loan?
Have a solid business plan: Your business plan should outline your goals, strategies, financial projections, and other important details about your business. Make sure your plan is well-organized, clear, and realistic.
Build a strong credit profile: Your personal and business credit history can play a big role in whether you get approved for an SBA loan. Make sure you have a good credit score, and pay off any outstanding debts or bills on time.
Demonstrate your ability to repay the loan: Lenders will want to see that you have a solid financial history and sufficient cash flow to repay the loan. Be prepared to provide financial statements, tax returns, and other documentation that shows your business's financial health.
Provide collateral: Depending on the type of loan you are applying for, you may need to provide collateral to secure the loan. This can include real estate, equipment, or other assets.
Choose the right lender: Not all lenders are created equal, and some may be more willing to work with your business than others. Research different lenders and their loan programs to find the one that best meets your needs.
Apply early: The SBA loan application process can take several weeks to several months to complete. Applying early can give you more time to work with the lender and provide any additional documentation or information they may request.
Work with an SBA-approved lender: Working with an SBA-approved lender can increase your chances of getting approved for an SBA loan. These lenders have experience working with the SBA and can help guide you through the application process.
Remember, getting approved for an SBA loan can be a competitive process, and there is no guarantee that your application will be approved. However, by following these tips and working closely with your lender, you can increase your chances of getting approved for the loan you need to grow your business.
How do I use the funds from my SBA loan?
Once you receive the funds from your SBA loan, you can use them for a variety of business-related purposes. The exact use of the funds will depend on the type of loan you received, as well as any specific requirements or restrictions imposed by the lender.
Here are some of the common ways businesses use the funds from an SBA loan:
Working capital: SBA loans can be used to provide working capital to cover day-to-day expenses such as payroll, inventory, and rent.
Equipment and inventory: SBA loans can also be used to purchase equipment and inventory, as well as to upgrade or repair existing equipment.
Real estate: SBA loans can be used to purchase or refinance commercial real estate, including buildings, warehouses, and office spaces.
Business acquisition: SBA loans can be used to acquire an existing business, including purchasing the assets or buying out a partner.
Debt refinancing: SBA loans can be used to refinance existing debt, including loans and credit lines, in order to reduce interest rates and improve cash flow.
It is important to note that the use of the funds must be for legitimate business purposes and cannot be used for personal expenses or to pay off personal debt. Additionally, some SBA loans may have specific restrictions or requirements on how the funds can be used, so be sure to review the loan terms and conditions carefully before using the funds.
What happens if I can't repay my SBA loan?
If you are unable to repay your SBA loan, the consequences can be serious. Here are some of the potential outcomes if you default on your SBA loan:
Legal action: The lender may take legal action against you to recover the outstanding balance of the loan. This can include garnishing your wages, placing liens on your property, or suing you for the full amount owed.
Damage to credit score: Defaulting on an SBA loan can have a significant negative impact on your credit score. Late payments or missed payments can stay on your credit report for up to seven years, making it difficult to secure financing in the future.
Loss of collateral: If you provided collateral to secure the loan, such as property or equipment, the lender may seize and sell this collateral to recover the outstanding balance.
Personal liability: If you signed a personal guarantee for the loan, you may be held personally liable for any outstanding balance, even if the business has closed.
If you are struggling to make payments on your SBA loan, it is important to communicate with your lender as soon as possible. They may be able to offer you a temporary payment plan or help you explore other options to avoid defaulting on the loan.