SBA Loan

The longest terms, largest loan amounts, and lowest rates!

Loan Amounts

$100,000 - $5,000,000

Terms

5 - 25 Years

Rates

5.25% - 7.75%

Speed

as little as 30 days

What is an SBA Loan?

An SBA Loan is a term loan program designed by the Small Business Administration to help business owners secure long term financing. It’s important to understand that even though the program is designed by the Small Business Administration, they are not the lenders that are lending the money. This is usually misconstrued by business owners, but the lenders that provide the money for the SBA Loan are the ones that determine eligibility, rates, terms, etc…

SBA Loan sizes range from $50,000 to $10,000,000, with terms from 10 to 25 years, and interest rates between 5.25% and 7.75%. In order to qualify for an SBA loan a business must have strong operating history, collateral available to secure the loan, and good personal credit. SBA Loan programs have a document intensive process, but has a dramatically positive impact on businesses once closed.

Time in business must be above 2 years

Business owner's personal credit score must be above 650

 U.S. based and owned by US citizen or Lawful Permanent Resident who is at least 21-years old

No outstanding tax liens

No bankruptcies or foreclosures in the past 3 years

No recent charge-offs or settlements

Current government-related loans

How does the SBA Loan process work?

The SBA Loan application process is paperwork intensive so it’s always important to make sure that when you plan to apply, you are organized and have all of your financial information together. The SBA Loan process is known for being strenuous, but the extra work up front for a better solution will improve the business for the next 10 to 25 years!

Apply Online

SMB Compass's simple and secure online loan application can be completed in a matter of minutes. Quick & Easy!

Get Approval

After we process your application we will contact you and provide you with the best loan offer. 

Get Back To Business

Once your loan is approved in as little as 30 days. You will have capital deposited directly to your business bank account.

What are the best industries for an SBA Loan?

SBA Loans can be used for all industries except for industries related to gambling, lending, religious institutions, speculative-based industries, non profits, illegal practices, and government owned businesses. Any business with strong operating history, good credit, and eligible collateral should consider an SBA Loan as an option for their business.

Why would a business use an SBA Loan?

There are a many reasons why a business owner would apply for an SBA Loan. The top reasons to apply for an SBA Loan include;

  • Refinancing short term loans and credit card debt
  • Purchasing a building or refinancing an existing commercial mortgage
  • Purchasing new or used equipment
  • Renovations or leasehold improvements
  • Purchasing another business

The great thing about an SBA Loan is not only can you use it for one of the above reasons, you can also you the one loan for multiple reasons.

What is a real example of a company that closed an SBA Loan?

We recently worked with a Logistics and Transportation company located in Northern Florida that had been operating for over 12 years. As they were growing and adding trucks to their fleet they were utilizing 5 year truck financing programs and hiring new employees to keep up with the demand. The total monthly payment on the trucks were $28,000 per month and the short term notes used to keep up with payroll added another $8,500 of monthly payments. Using a 10 year SBA Loan we were able to refinance the debt and reduce the monthly payments from $36,500 to $10,800. The business now has over $300,000 a year in additional cash flow.

What documents are required for an SBA Loan?

  • SMB Compass Online Application
  • 3 Years of Business Tax Returns
  • 3 Years of Personal Tax Returns
  • 3 Years of Business Financials (Profit & Loss and Balance Sheet)
  • Current Financials (Profit & Loss and Balance Sheet)
  • Detailed A/R and A/P Aging Reports

  • Detailed Inventory Report
  • Machinery and Equipment List
  • Current Debt Schedule
  • SBA Specific Forms
  • Sources and Uses Form
  • Management Bio and Resumes

What Our Clients Are Saying

"We cannot express just how grateful we are that we found this company to work with. No matter what finance companies we reached out to for help we kept getting turned away and even at times, no call back. SMB Compass found us the best source of financing that would not just help in the short term, but gave us a solid plan to regain financial independence. We have been able to keep employees working and grow our business."
Tim C.

Massachusetts

"My family business has been around for over 25 years and we are grateful to have been introduced to the SMB Compass team. We’re now growing by 50% per year and without the help of SMB Compass, we wouldn’t have the capital to do so. We started off with a series of 5 year equipment loans and a 5 year working capital loan, and now the SMB Compass team has been able to secure a bank term loan and a $450,000 line of credit, with a bank that’s willing to grow with us!"
Greg P.

New Jersey

"I can’t begin to explain how helpful Matt Gillman and the SMB Compass team has been. I was able to put an operating line of credit in place along with a term facility that recapitalized my business. I constantly tell Matt and his team that they need to figure out a way to show people how different they are then others. I have recommended SMB Compass to family and friends and highly recommend them to any business owner looking for financing."
Fred S.

Indiana

Quick Approval for Your Small Business Loan

$160,000,000+ in financing provided to date. SMB Compass will provide your business with the best loan options available. Apply in minutes. Your results await. 

Friendly 5-10 Minute Introduction
Documentation and Underwriting
Approval and Funding

Frequently Asked Questions

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Approval in Minutes.
Funding the Next Day.