Understanding SBA Loans
What is An SBA Loan?
SBA loans, including SBA express lines of credit are small business loans issued by participating funders and are partially guaranteed by the Small Business Administration. With long terms and low interest rates, getting an SBA small business loan is a great way to grow your business, increase working capital, purchase equipment, or refinance existing debt. So apply for SBA express loan from REIL Capital today!
AMOUNT
$30,000 - $5,000,000
TERM
10-25 Years
RATES
6.50% - 8.75%
SPEED
About a month
Minimum Requirements For An SBA Express Loan
If your business doesn’t match some of the qualifiers below, it may be more challenging to receive funding from our funding partners.
When it comes to securing funding for your business, understanding the minimum requirements for an SBA Express loan is critical. While this program is designed to be more accessible for small business owners, there are still specific criteria that must be met to qualify for SBA funding. Below are some of the SBA loan requirements to keep in mind when considering an SBA loan.
Documentation Necessary:
- Application
- 3 Months Business Bank Statements
- 3 Years Business Tax Returns
- 3 Years Personal Tax Returns
- Business Profit & Loss Statements
- Business Balance Sheet
Qualifications:
- $15,000 in monthly revenue
- 3+ years in business
- 650+ credit score
- 145+ Business Score
- No Bankruptcies, Outstanding Liens or Judgements
Additional Information:
- Affordable monthly payments
- Longer payment terms
- Lower interest rates
- Perfect for a wide range of business
Types Of Small Business Administration (SBA) Loans
Small business owners have access to three primary SBA loan programs: the 7(a) program which provides general business funding, the CDC/504 program designed for major fixed assets, and the microloan program which caters to smaller expenses. Depending on your business needs, you may find one of these programs more appealing than the others. It’s important to explore your options and determine which SBA loan program is the best fit for your business goals.
SBA 504
Use It For
Fixed assets such as land, a building or machinery
Interest Rate
4.63% 10-year
4.51% 20-year
Term Length
10-20 years
Max Loan Amount
$5 Million
SBA 7(a)
Use It For
Working capital, debt refinancing or to purchase business
assets
Interest Rate
5.75-8.25%
8.5-11.5%
Term Length
5-10 years
Max Loan Amount
$5 Million
SBA Microloans
Use It For
Working capital or to purchase inventory and equipment
Interest Rate
6-9%
Up to 6 years
Term Length
Up to 6 years
Max Loan Amount
$50,000
More SBA loan options
SBA Loan for Disaster
SBA loan for disaster is offered by the Small Business Administration to help small businesses recover from physical or economic damage caused by natural disasters. The loans offer low interest rates, long-term repayment options, and flexible terms. To qualify, the business must have suffered damage in a declared disaster area and demonstrate the inability to obtain credit elsewhere. These loans can be a crucial source of funding for small businesses affected by disasters and help businesses resume operations.
USDA Loan
The USDA offers loans to develop and finance businesses in rural communities, contributing to their growth and job creation. The USDA loan features various benefits, including loan amounts of up to $25,000,000 and terms up to 30 years, with fully amortizing payments. Collateral must demonstrate sufficient documented value to secure the lender’s and agency’s interests. Both fixed and variable interest rates are available. The loan proceeds may be used to purchase inventory, refinance debt, and expand business operations, among other purposes.
SBA Express Loan Application Process
Don’t get stuck in a long, complicated application process with a high chance of rejection. Reil Capital offers a faster and easier SBA Express Loan application process to secure financing for your business. Skip the bank and apply with us to get the funding you need in this lifetime.
Step 1: The 5-minute online application must be completed
We use bank-grade encryption and SSL technology to ensure that your sensitive information is always kept safe.
Step 2: Obtain matches
Once you’ve submitted your application, we’ll match you with financing options from our network of 75+ funders. Our team of dedicated funding managers will guide you through the process and help you evaluate the advantages and disadvantages of each option.
Step 3: Get funded
Once you’re approved for funding, you can expect to receive your capital within one to two months. Our streamlined process makes it easier than ever to get the financing you need to grow your business.
SBA Express Loan Benefits
Don’t get stuck in a long, complicated application process with a high chance of rejection. REIL Capital offers a faster and easier SBA Express Loan application process to secure financing for your business. Skip the bank and apply with us to get the funding you need in this lifetime.
Quick Approval
SBA Express offers the fastest approval times of any SBA loan, with dedicated staff expediting the application, underwriting, and closing process.
Easier Qualification
As the loan is backed by the SBA, it is easier to get qualified. Our SBA Specialists can identify/address any issues associated with qualification to accelerate processing times.
Lower Down Payments
SBA loans have lower down payment requirements than conventional loans, with the SBA allowing for as much as 90% financing, meaning the borrower may provide as low as 10% down payment. Trust Reil Capital to help you navigate the SBA loan process and secure the financing you need to grow your business.
Flexible Repayment Terms
Choose a term of 10 to 20 years, depending on your business needs. This includes up to 10 years for business acquisitions and working capital, up to 15 years for equipment, and up to 25 years for real estate.
Why Choose REIL for SBA Loans?
When you apply for fast SBA loans through REIL Capital, you’ll not only receive the assistance of the U.S. Small Business Administration, you’ll also get the REIL advantage, which means you’ll have the benefit of our impeccable customer service and support. Our goal is to make it easier than ever for small business owners to get the funding they need, and as a family owned and operated business, we know exactly how much your business means to you. That means we’ve made a commitment to offering fast, easy, and cost-effective access to the funding you need to grow your business and take care of everyday expenses. Whether you’re applying for Quick SBA loans through REIL, or dealing with us directly for a merchant cash advance, invoice financing, equipment financing, asset based lending, or fix and flip funding, you’ll receive the same level of excellent service we give to everyone we do business with.
As small business owners ourselves, we know you don’t have time to waste applying for funding through traditional banks. REIL Capital has streamlined the entire application process and put it online. That’s why you can fill out our instant application online and quickly receive a call from one of our Capital Specialists, who will go over all the various funding options we offer and help you select the one that will work best for you. In some cases, one of our quick financing options like merchant cash advances or invoice financing may be the right choice; in other cases, SBA funding might make more sense because of its longer terms and higher borrowing limits. No matter what your situation, you can trust REIL Capital to help you make the best decision for your business.
We’re focused on buyer education and transparency, so you can feel secure throughout the entire process, knowing that we’re working for you. Deciding between fast SBA loans, equipment financing, or any of the other funding options available through REIL Capital can be difficult, so we want you to have as much information as possible before you make a decision that could affect you for years to come. We also make sure to protect your sensitive data throughout the entire funding process, so when you fill out our instant online application, you know your financial information will be secure.
If our fast SBA loans for small businesses or any of our other funding options look desirable to you, get in touch with REIL Capital today to get the process started! For a Quick Sba Loan, fill out our online application, call our customer support staff at (888) 601-REIL, send an email to , or chat live with a representative right here on our website! No matter how you choose to communicate with us, customer service representatives will be standing by to tell you all about the various funding options we offer. Don’t wait; your business needs funding now! Contact REIL Capital today and you could have the funding you need sooner than you think.
SBA Express Loans FAQs
Yes, SBA Loans can be used for startup businesses. The SBA provides various loan programs that cater to the needs of startups, such as the SBA Microloan Program and the SBA 7(a) Loan Program.
No, SBA Disaster Loans are intended for small business owners who have suffered economic injury as a result of a declared disaster. The loan funds must be used for business purposes only, such as working capital, inventory, and equipment.
Yes, you do have to pay back the SBA small business loan. But SBA loans typically have lower interest rates and longer repayment terms than conventional loans, making them more affordable for small business owners. It’s important to note that failure to repay the loan can result in default and damage to your credit score.
Yes, the SBA offers a line of credit called the CAPLines program. This program provides small businesses with financing for short-term working capital, seasonal inventory, and contract financing.
The SBA offers loans, not grants. However, they do provide resources and guidance on finding and applying for grants from other organizations. SBA also offers other forms of financial assistance, such as loans and loan guarantees, to help small businesses start and grow.
SBA loan rates are calculated by adding a markup determined by the lender to the prime rate, which is set by the Federal Reserve. The markup is based on factors such as the borrower’s creditworthiness and loan details. The SBA sets a maximum markup that lenders cannot exceed, and rates may vary over time.
The SBA program provides guarantees to lenders for a portion of a small business loan, making it less risky for the lender to provide the loan. This guarantee incentivizes lenders to provide loans to small businesses that may not have otherwise qualified. The SBA does not directly lend money to small businesses but works with participating lenders to provide loans.
The time it takes to receive an SBA Loan can vary depending on the financing program, funder, and application process. Generally, it can take several weeks to several months to receive funding, with some loan programs having longer processing times than others.
The time it takes to receive funding for an SBA loan varies, but typically it takes one to two months after approval. The actual funding time can vary depending on the lender, but generally, SBA loans are funded within one to two months after approval.
The documents required for an SBA loan may vary depending on the loan program and the funder. Generally, applicants will need to provide personal and business financial statements, tax returns, business plans, and bank statements. Other documents, such as collateral and legal documents, may also be required.
The interest rate for an SBA loan depends on the type of loan and the lender, with maximum rates set by the SBA. As of September 2021, maximum rates range from 5.00% to 8.75% depending on the loan amount and maturity. Contact an SBA-approved lender for current interest rates.