SBA Loan

SBA Loans

Invest in Your Success: Apply for an SBA Loan Online

Take the First Step to Drive Your Business Forward

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What is an SBA Loan?

SBA loans are business loans guaranteed by the Small Business Administration.  SBA guaranteed loans can range from small to large and can be used for most business purposes. With their multiple SBA funding programs, this government agency provides SBA loan guarantees of up to 85% of the loan amount provided through an SBA-approved lender.  The SBA agency reduces risk and enables easier access to capital for small business owners across the United States. The three main SBA loan programs let you borrow money for nearly any business purpose—including working capital, purchasing inventory or equipment, refinancing other debts, or buying real estate—through these SBA-guaranteed loans.  Take into account that some SBA loan programs set restrictions on how you can use the funds, so make sure to check with your Upwise SBA loan specialist.

What is considered an SBA loan? The SBA stands for the Small Business Administration (SBA) and is the government agency that partially guarantees SBA loans and this agency was founded in 1953 to support small business owners financially across the United States.  Here we will go over the costs, qualifications, use of proceeds, underwriting process, timeline to funding and more to help you determine whether this type of loan is the best option to finance the growth of your small business.

Types of SBA Loans

Discover the ideal government backed business loan tailored to meet the unique needs of your business.

Loan Amount

Up to $5 million

SBA 7(a) Loans

Get revolving funds when you need it and only pay interest on what you draw. 

Purpose

Working capital, expansion, and equipment purchases. 

Loan Amount

Up to $5 million

SBA 504 Loans

Provides growing businesses with financing for real estate and long-lasting capital investments.

Purpose

Purchase, renovate or acquire land, facilities, machinery, furniture or fixtures.

Loan Amount

Up to $500,000

SBA Express Loans

With an expedited process, borrow from participating lenders as a term loan or line of credit. 

Purpose

Working capital, expansion, renovation, equipment purchases and debt refinancing. 

Loan Amount

Up to $50K

SBA Microloans

Smaller sized loans designed to provide financing to traditionally underserved businesses.

Purpose

Use for working capital, supplies, inventory, machinery, vehicles, and equipment. 

Loan Amount

Up to $5 million

SBA Export Working Capital Loans

Used for working capital to fill cash flow gaps and support export sales. 

Purpose

Production of goods & services for export, invoices and purchase orders.

Loan Amount

Up to $500,000

SBA Export Express Loans

Get quick access to expedited loans to support a business’s export opportunities.

Purpose

Use for production, shipping, inventory, marketing and receivables.

Loan Amount

Up to $5 million

SBA International Trade Loans

Access long-term financing to grow your export sales globally and upgrade operations to remain competitive with international rivals.

Purpose

Import raw materials, finance foreign account receivables, export order fulfillment.

Loan Amount

Up to $2 million

SBA Disaster Loans

Repair physical damage to property caused by a declared disaster and bridge the loss of revenue and increased operating costs.

Purpose

Cover items such as repairs, replacement, renovation, rent and payroll.

SBA Loan Pros vs Cons

PROS

Suitable for a Wide Range of Business Purposes

Flexible Terms & Low Interest Rates 

Security from the SBA = Lenders Approve Higher Amounts

CONS

Tight/Strict Lending Standards

Extensive Documentation Process

Longer Funding Speed Compared to Other Products

How does an SBA Loan work?

SBA loans are originated by a bank and the SBA provides a guarantee on the loan, promising to reimburse the bank for a certain percentage of the loan in the event of a default.  The SBA agency does not typically make direct loans which is a common misunderstanding amongst small business owners. The guarantee by the SBA lowers the risks to lenders, encouraging them to offer these loans to more American small businesses. Upwise has partnered with many banks and other financial institutions that offer SBA loans, but their process, requirements, and fees can vary.

Who Qualifies for a Small Business Administration Loan?

Securing an SBA loan for a small business is no easy task, but our team at Upwise is here to guide you through every step of the process.  Many businesses, including small or newer businesses, can qualify for an SBA loan.

Take into account that the most important factor will be your credit score, the SBA requirement is a minimum of 620 FICO SCORE from ALL three credit bureaus.  If you are a new business the SBA loan program has specific loans for starting a new business or acquiring an existing business.

Be prepared for the process: SBA loans usually require a lot of documentation, time, and energy.  The underwriting process can be long if you are looking for more than $350k. Upwise offers an expedited SBA for any borrowers looking for a loan under $350k.  For larger loan amounts the process from beginning to end is usually 30-45 business days depending on the borrower’s motivation to move quickly.

Don’t believe any broker or lender who promises to provide SBA loans in as fast as 1-2 business days.  SBA loans take time to get approved and usually require the business to be showing a profit on the most recent business tax return.  

Applying for an SBA loan can be difficult to qualify for if your company has a limited track record of paying off-trade lines or has a poor business credit score.  After all, credit and trade line payment history is the most important aspect when the SBA-approved lender evaluates a borrower’s reliability.

Do not worry, Upwise capital has secured many SBA loans for clients in the past and can easily navigate your business through the SBA process to a successful funded SBA loan.

SBA Loan Requirements

Profitability

Over 10% Profit

credit score

over 650+

Annual revenue

over $200K

time in business

2+ years

* Note: These SBA loan requirements are based on previous Upwise customers and is just an average.

Open the Door to Financial Freedom With The Gold Standard of Business Loans.

Absolutely great customer service. Jim is such a professional and was able to get us funding. Thanks Jim and Upwise Capital.
Nothing But HempNothing But Hemp
20:13 08 Mar 24
Donna EssnerDonna Essner
20:45 06 Mar 24
Craig went above and beyond to get this deal done! I would highly recommend UpWise Capital if you're looking for a broker to get investors onboard.
Merideth CannMerideth Cann
02:30 21 Feb 24
Leo provided a very quick turn around and is a pleasure to work with !
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01:16 17 Jan 24
I worked with Leo. He is very attentive and professional.
Mohamed KhanaferMohamed Khanafer
22:37 02 Nov 23
Craig made himself available all the time, he was very attentive, professional and easy to work with. Highly recommend!
Tammy SockwellTammy Sockwell
11:09 06 Oct 23
We worked with Leo for our line of credit. We are a trucking company an can be a challenge to secure financing. The process was smooth and fast... funding. Our only complaint would be that Leo was a little impatience when it came to our decision making. We are very thankful for the funding and would do business with them again. Thanks,Upwiseread more
Sharon JohnsonSharon Johnson
14:57 18 Jul 23
Leo got us a line of credit loan very quickly to help with expenses we incurred during our new business building purchase.
Mike MaffeiMike Maffei
14:40 20 Jun 23
You are always hesitant when working with a finance firm to borrow money to grow your company But, I highly recommend Upwise Capital. Lou and Marc... went out of their way to ensure everything was taken care of. Very professional in all steps taken to secure the financing I needed. I look forward to continuing the business relationship.read more
Niyetroshia ThomasNiyetroshia Thomas
15:17 06 Jun 22
I rarely write reviews, but my experience with Leo was absolutely. Leo was patient, knowledgeable, and extremely responsive. During a hectic work... week he continued to bare with me to be sure that i had all the information I was requesting. He got me the capital I needed within one day. I highly recommend this company!read more
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What does an SBA Loan cost?

SBA loans tend to be the least expensive financing options available to small business owners.  SBA rates can vary depending on the lender that you work with, but all interest rates must be within SBA guidelines.  

The SBA establishes the minimum and maximum amount that can be charged for these loans. SBA loans from Upwise marketplace banks can have fixed or variable interest rates and depend on the loan amount, lender and SBA loan type.  SBA interest rates are based on the Wall Street Prime Rate + anywhere from 2.25 – 4.25% depending on the loan product.  

Apply for an SBA Loan Now.

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Get in touch now achieve your goals with an SBA Loan.

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Documents You'll Need to Apply

Driver’s License

Voided Business Check

Business Bank Statements (Last 4 Months)

Credit Score

Collateral Information

You may also be requested to provide the following for larger dollar amounts over $100K:

Credit Application

Balance Sheets

Profit & Loss Statements

2 Years Business Tax Returns

2 Years Personal Tax Returns

You’ve got big plans to take your business further – now you just need a way to make them happen. That’s where SBA loans come in! These programs are specially designed to fuel growth for companies of all sizes. With their backing, lenders can offer better terms than many other loans.

We’re here to help you find the right SBA option for your needs. Whether you’re looking at equipment, real estate, payroll or anything else, these loans have very flexible uses. And the application process is simple and straightforward. Just give us a call and we’ll guide you from start to finish. You focus on building your business – let us help secure the funds to spark your vision into reality!

SBA Loan Types Chart

Maximum Loan Amount:  $5 Million

Maximum SBA Guarantee: 85% for loans up to $150,000 and 75% for loans greater than $150,000

Interest Rate:  Lenders and borrowers can negotiate the interest rate, but it may not exceed the SBA maximum

Eligibility Decision:  By the SBA. Qualified lenders may be granted delegated authority (PLP) to make eligibility determinations without SBA review.

Revolving Lines of Credit:  Up to 10 years (Permitted only under CAPLines submission. See below)

SBA Turn Around Time: 5-10 business days

Forms: SBA Form 1919 and SBA Form 1920 are required for every loan (other SBA Forms may be required)

Collateral:  Lenders are not required to take collateral for loans up to $25,000. For loans in excess of $350,000, the SBA requires that the lender collateralize the loan to the maximum extent possible up to the loan amount. If business fixed assets do not “fully secure” the loan the lender may include trading assets (using 10% of current book value for the calculation), and must take available equity in the personal real estate (residential and investment) of the principals as collateral.

Credit Decision:  By the SBA. Qualified lenders may be granted delegated authority (PLP) to make credit decisions without SBA review.

Why Upwise for SBA Loans

Quick & easy application

Our simple 15-minute application gets you on your way to funding quickly. Most applicants receive a fast decision within hours of applying. Then just choose your loan terms and you could have funds deposited into your account as soon as 24 hours.

Ensure you make the wise choice

Every Upwise applicant gets a dedicated funding advisor who takes the time to understand your business and it's unique needs. We are here for your support throughout the entire funding process.

Access multiple financing options

Upwise has an extensive product suite and a network of 100+ lenders. This means you're more likely to find the best match for your funding needs.

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