How to get an SBA loan for your small business

The SBA doesn't lend money directly — it guarantees part of a loan so banks and lenders can approve businesses they'd otherwise turn down. That guarantee is why SBA loans have longer terms and lower down payments than most business loans.

The most common program is the SBA 7(a) loan: up to $5 million for working capital, equipment, refinancing or buying a business. The 504 loan is for real estate and major equipment, and microloans (up to $50,000) are great for startups and are often paired with free mentoring.

To get approved, prepare four things: a simple business plan, personal and business financials, a clear use of funds (how much and for what), and any collateral you have. Lenders want to see you can repay and that you have some skin in the game.

Use the SBA's free Lender Match to find approved lenders, and don't apply to just one. At the Adonait Hub we help you prepare a strong application and connect you with real lenders — apply and we'll guide you.