PrimeRates provides access to personalized business loan offers through our simple and quick pre-qualification application. Once you’re pre-qualified, you can select the best offer for you and finalize the business loan application with the lender.
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Our simple application takes less than 5-7 minutes to complete.
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Choose the offer that best fits your needs by comparing loan amounts and terms.
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Finalize your loan offer with the lender you selected to receive your funds.
How do you get an SBA loan? If you are looking for the answer to this commonly asked question, you are in the right spot.
Getting an SBA loan can be very challenging but also very rewarding. In order to be eligible for an SBA loan you need to meet some of the basic requirements including:
Compared to SBA 504 loans, SBA 7(a) loans are only partially guaranteed by the SBA. This means that 50% to 85% of an SBA 7(a) loan is guaranteed. The percent guaranteed is determined by the size of the loan and the borrower’s qualifications. In the event the borrower defaults on the loan the SBA’s guarantee ensures that the lender receives their agreed percent (50%-85%) of the loan back. This decreases the risk for lenders and encourages them to approve more loans. Using an SBA 7(a) loan you can borrow up to $5 million and the funds can be used for a wide variety of business purposes. SBA 7(a) standard loans are best for business extension and working capital. The downside to SBA 7(a) loans is they can have a lot of fees and can be difficult to qualify for.
The first step to securing an SBA 7(a) loan is to make sure you meet the requirements. Next, you should visit PrimeRates and submit an application online. Many borrowers prefer the online process for convenience but you may have other options as well. A little later on we will discuss when it’s better to use online lenders vs. banks and Microlenders.
Let’s take a look at some of the SBA 7(a) loan requirements:
There are different types of SBA 7(a) loans, let’s compare them…
Are you looking to finance real estate or other fixed assets? If so, you should look into an SBA CDC/504 loan because it’s specifically designed for financing real estate and other fixed assets. Although they can be tough to qualify for, like any SBA loan, SBA CDC/504 loans often have some of the lowest interest rates.
Similar to securing an SBA 7(a) loan, you should make sure you meet the minimum requirements before applying for an SBA CDC/504 loan. If you do and are ready to take the next step you should visit PrimeRates and submit an online application. You can receive multiple personalized offers within seconds. Simply, select the best offer and just like that you are on your way to being approved for an SBA CDC/504 loan.
Let’s take a look at some of the requirements for an SBA 504 loan:
If you have an average credit score or are a startup you should look into an SBA Microloan. Applications are not reviewed for creditworthiness. Using an SBA Microloan you can borrow up to $50,000. Similar to SBA 7(a) loans, SBA Microloans require collateral. However, due to more lenient requirements, SBA Microloans typically have higher interest rates.
Just like any other SBA loan, you should make sure you meet the minimum requirements before applying. When you are ready to apply you should visit PrimeRates and submit an online application. This will allow you to receive and compare multiple personalized offers and select the best one.
Let’s take a look at some of the requirements for an SBA Microloan:
Short-term microloans, SBA 7(a) loans, and disaster loans can be offered by traditional banks. While it can take longer to be funded using a bank, they are usually your lowest-APR option. Most bank SBA microloans take between two to six months to fund. You should use a bank for an SBA Microloan when…
Compared to an SBA Microloan through a bank, Microlenders typically have higher APR and much smaller loan amounts. Microlenders usually lend short-term loans that are less than $35,000. Even though the loan amounts are usually lower, the application process can still be lengthy. In most cases, Microlenders require a detailed business plan, summary of what the funds will be used for, financial statements, and more. In general, Microloans can be a good option for startups or business owners with poor personal credit history or a lack of collateral. You should use a Microlender for an SBA Microloan when…
» MORE: SBA Loans For Startups
SBA loans and Microloans can be secured using online lenders. APR rates can vary depending on the lender, type and size of the loan, terms, personal credit history, and down payment or collateral. Compared to banks, online lenders can struggle with beating APR rates. However, online lenders usually have a much higher approval rate with faster funding. Some online lenders can fund approved loans as fast as 24 hours. In order to get the best possible APR rate using online lenders it’s important to compare offers and do your due diligence. PrimeRates is a secure platform that can make securing the best SBA Microloan much easier. PrimeRates partners with reliable and top-rated lenders, forcing them to generate more competitive offers. Borrowers can simply submit one application online through PrimeRates and receive multiple personalized offers within seconds. You should use an online lender for SBA Microloans when:
Although SBA loans are one of the best options for small businesses, they are hard to qualify for and lenders can be selective. If you are denied an SBA loan you can work on improving your business and personal credit and business financials for a few months and reapply – or you can explore alternatives. Personal loans, business credit cards, invoice financing and more can all be an alternative to SBA loans. You can explore various types of alternative loans at PrimeRates.
Treasury sold 13-week bills at 3.970 percent and 26-week bills at 4.060 percent on September 14, a 17 basis point weekly jump, as the FOMC opened its two-day September meeting.
Federal debt fell to $40.048 trillion on September 10, down $127.9 billion from the August 31 record, as Treasury drew its cash balance at the Fed down by $205.4 billion.
The 2-year to 10-year Treasury spread narrowed to 33 basis points on September 11, its tightest since July 1, as the front end repriced before the September 15 and 16 FOMC meeting.
Core inflation cooled to 2.4 percent in August, the lowest since March 2021, but a 0.3 percent monthly gain pushed September Fed hike odds above 65 percent.
Treasury sold $22 billion of 30-year bonds at 5.308 percent on September 10, the highest stop since 2001, and indirect bidders took a record 79.3 percent.
Treasury sold $39 billion of 10-year notes at a 4.834 percent high yield on September 9, 2026, the highest 10-year auction stop since August 2007, on a 2.71 bid-to-cover ratio.