SBA provides loan guarantees to lenders that in turn make loans to businesses, including sole proprietorships.
See Also
What are the Pros and Cons of SBA 7(a) Loans? | SBA 7(a) LoansMinimum Credit Score For Business Loan | BankrateAre Business Loans Hard to Get? Why SBA Loans Seem Out of ReachEverything You Need for an SBA Loan ApplicationTo be eligible for financing under SBA's 7(a) loan program, the applicant business must meet all of the following:
- Meet SBA size standards
- Be for-profit
- Not already have the internal resources (business or personal) to provide the financing, and
- Be able to demonstrate repayment.
Certain variations of SBA's 7(a) loan program may also require additional eligibility criteria. Special purpose programs will identify those additional criteria.
For more information, please visit SBA’s 7(a) Loan Program Quick Overview page.
