Determine your eligibility
An SBA loan can offer certain benefits over other types of loans. So let's explore your business needs a little further to see if it's a good match for you.
The first step is to determine if your business qualifies as a "small business" under SBA guidelines. We'll work with you to review your specific business situation in detail, but the following guidelines can get you started:
- Company is a for-profit entity
- Proven industry and management experience
- Satisfactory credit
- Loan size of $100,000 to $5,000,000
- Guidelines regarding size of company vary by industry:
- Generally businesses with a maximum tangible net worth of $15,000,000, and
- The average net income after Federal income taxes (excluding any carryover losses) of the applicant for the 2 full fiscal years before the date of the application is not more than $5,000,000
All loans subject to SBA, collateral and underwriting requirements, and approval, including credit approval.