No Obligation, Pre-Qualification
7(a), 504, Microloan or EIDL: Choosing Your SBA Loan Program
There are four SBA programs and they do different jobs. Picking the right one before you start is what keeps an eight-to-twelve week process from being wasted, and our team walks through that choice with you at no cost.
Which SBA Loan Program Matches What You Are Financing
SBA loans are attractive for the obvious reasons: low rates, long repayment terms and large amounts. The qualification bar is set accordingly, and the paperwork is heavier than anything else on this site. Knowing how an SBA loan differs from a standard Business Term Loan before you start makes the application go faster.
Start from what you are buying. A building or a piece of production equipment points to one program. Payroll, staffing and debt consolidation point to another. A modest first round for a young company points to a third. Matching the purpose to the program up front is the part of an SBA application you have the most control over.
Treat the processing time as a planning number rather than fine print. Eight to twelve weeks is long enough that a payroll run, a seasonal inventory buy or a deposit on equipment will come due before your SBA funds land, and owners who do not plan for that gap often abandon a good application halfway through.
In practice you run the two on separate tracks. While the SBA file works its way through, our extensive network of funders can cover the near-term need with a program that funds in as little as 24 hours, with most requests funded within 2-4 business days. Approvals across that network run from $5,000 to $1,000,000 and span over 10 different business funding programs, so the bridge can be sized to the actual gap rather than to whatever is easiest to approve.
- Rates as Low as Prime + 2.75%
- Terms Running 10 to 25 Years
- Loan Amounts up to $5 Million
- Plan Around an 8-12 Week Process
See what your business qualifies for.
One application, compared across our extensive network of funders. On average, funding is received within 2-4 business days.
The 8-12 Week Timeline, and What to Do While You Wait
The acronym “SBA” represents the Small Business Administration, a U.S. government agency. The hallmark of SBA Loans is the assurance provided by the SBA, which guarantees a major portion of the loan, minimizing lender risk.
Loan Amounts and Rates:
- Max Loan Amount: up to $5 million
- Interest Rates: As low as Prime + 2.75%
- Loan Duration: 10-25 years
- Processing Duration: 8-12 weeks
- 7(a) Loan Program: Flexible loans for a range of business purposes, from staffing to consolidating debt.
- CDC 504 Loan Program: Designed for acquiring major assets like equipment or commercial real estate.
- SBA Microloan Program: Modest loans for emerging businesses.
- Economic Injury and Disaster Loans (EIDL): For businesses affected by unforeseen events or disasters.
SBA loans carry competitive interest rates, high borrowing ceilings and long repayment periods. That combination suits a business making a large, long-lived purchase, such as premises or production equipment, where a ten- to twenty-five-year schedule is what makes the numbers work. It is a common route for franchise operators financing a new unit, for pool service and installation companies buying a yard and a fleet, and for construction and contracting companies acquiring premises they had been renting.
The criteria are strict and the paperwork is substantial. The eight-to-twelve week processing window is the part that surprises owners most, which is why we plan the interim alongside the application rather than after it.
Typically, eligible businesses have:
- Annual Revenue: Exceeding $360K
- Credit Score: 650 or higher
- Business Tenure: At least 2 years
We work with a group of SBA lenders and take every file through the same steps:
- Eligibility Check: Confirm you meet the program’s eligibility standards.
- Prepare Documents: Assemble the required paperwork.
- Online Application: Fill out our digital form.
- Discussion: Explore your options with our funding specialist.
- Approval & Fund Transfer: Once approved, the funds are transferred to your account.
A declined SBA application is not the end of it, and the same file can be pointed at other programs in our network. If the 650 credit score or the two-year tenure is what stands between you and an SBA approval, say so early. Programs elsewhere in our network open at lower thresholds, and we have helped a lot of owners who had some trouble with their credit, prior bankruptcies, and even tax liens find funding that an SBA lender was never going to write.
Steps to Secure Business Funding with Sterling Street Financial
Submit Your Online Application
Fill out the online form. It asks what your business does, what the money is for, and what your revenue looks like. Call, chat or email if a question comes up.
Talk to Our Experts
A funding specialist reads your file and calls you with what the funders in our network sent back — the amounts, the costs and the repayment schedules.
Get Funded!
Choose the offer you want. Approved funds reach your account in as little as 24 hours, and most requests fund within 2-4 business days.
A Few Minutes to Apply
Fill out our online form and get approved quickly.
Compare Options
Compare 7(a), 504, Microloan and EIDL options side by side before you file.
Customize Terms
Choose what best suits you and your company’s needs.
Get Funded
Bridge funding in as little as 24 hours while your SBA file processes.
Take your business to new heights.
Tell us the amount you are after and what your business takes in each month, and we will point your application at the programs that fit. No application fees, no obligation, and no impact on your credit score.