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SBA guide

SBA Loans, Explained Properly

The cheapest long-term money a small business can borrow, and the most paperwork. This section covers every program rule that decides your file — sourced from sba.gov, not from other people's blog posts — plus the lender floors SBA does not set.

Not the SBA. Goldspur Capital is not the U.S. Small Business Administration, is not a government agency, and is not an SBA lender. SBA loans are made by participating lenders; the SBA guarantees a portion of the lender's loan. We are an independent referral partner that packages your file and places it with lending partners. You can always approach an SBA lender directly at no cost, and SBA's own free Lender Match tool is at sba.gov.

The three programs, at a glance

ProgramCeilingBuilt for
7(a)$5,000,000The flexible one: working capital, debt refinance, equipment, real estate, buying a business — or several at once
504$5,500,000Long-lived fixed assets only: buildings, land, machinery with 10+ years of useful life. Long-term fixed rate
Microloan$50,000Early stage. Average loan about $13,000, up to 7 years, delivered by nonprofit intermediaries

Those are SBA's program ceilings, not offers. Separately, our lending partners publish an SBA program range of $50,000 to $5,000,000 over 10 to 25 years, funding in 30 to 45 days with a credit decision typically inside 48 to 72 hours of a complete file, and floors of 675+ FICO, 2+ years in business and $120,000+ annual revenue as of September 2026.

The one structural fact to start from

Under 7(a) and 504 the SBA does not lend you money. It guarantees part of a participating lender's loan. In SBA's own words, you always work directly with your lender and not with SBA. That is why two SBA lenders can price the same borrower differently, why one decline means very little, and why matching your file to a lender with genuine appetite for your industry and deal size is most of the work.

Work through it

Written for owners, with the unflattering parts left in.

SBA Loan Requirements — The Full Eligibility Checklist

The six SBA eligibility tests, plus the lender floors SBA does not set.

How to Get an SBA Loan — Step by Step, With Real Timelines

The seven steps, who does what, and where files really stall.

SBA 504 Loans — Structure, Rates and Terms Explained

The 50/40/10 structure, the fixed-rate portion, and the hard limits on use.

SBA Loan Rates and Fees — How the Number Is Built

How 7(a) pricing is capped, and which fees are legitimate.

SBA Loans for a New Business — What Is Actually Possible

What replaces trading history, and the honest odds by scenario.

SBA Loans for Commercial Real Estate — 7(a) or 504?

The owner-occupancy rule and how to pick between the two programs.

SBA Loans for a Franchise — Why They Move Faster

Why a directory-listed franchise is one of the most fundable SBA files.

SBA Loans for Restaurants — What Underwriting Really Asks

How restaurant files are judged, and which costs qualify.

SBA Loans for a Laundromat — A Lender Favourite

Why laundromat acquisitions underwrite well, and what to verify first.

Why Banks Decline SBA Loans — And What to Do Next

Policy decline or credit decline? The difference decides your next move.

Straight answers

Questions owners actually ask

What is the maximum SBA loan amount?
The 7(a) program maximum is $5 million. The 504 program maximum is $5.5 million. SBA microloans go up to $50,000, and the average microloan is about $13,000. Those are SBA program ceilings, not offers — the amount a lender will actually approve depends on your cash flow, collateral and credit.
How long does an SBA loan take?
Plan on weeks, not days. Our lending partners publish 30 to 45 days from application to funding on SBA programs, with a credit decision typically inside 48 to 72 hours of a complete file. The variable is almost never the lender's speed — it is how fast the borrower returns documents, and on real estate deals, the appraisal.
Do I apply to the SBA or to a lender?
To a lender. SBA does not lend directly under 7(a) or 504 — it guarantees part of a participating lender's loan. As SBA puts it, you always work directly with your lender and not with SBA. SBA also runs a free Lender Match tool at sba.gov.
What credit score do I need for an SBA loan?
SBA itself sets no minimum FICO; it requires that you be creditworthy with a reasonable ability to repay. The floors come from lenders. Our lending partners publish 675+ FICO, 2+ years in business and $120,000+ annual revenue on their SBA programs as of September 2026. Below those floors, SBA is usually the wrong door and a different product is the right one.
Is it true you have to be turned down elsewhere first?
Partly, and it surprises people. SBA 7(a) eligibility includes a credit elsewhere test: the borrower must not be able to obtain the desired credit on reasonable terms from non-government sources. It is the lender's job to document that, not yours to prove with decline letters, but it is a real eligibility rule and it is why SBA is not simply a cheaper version of a conventional loan.

SBA program rules on this page were read from sba.gov on 1 September 2026 (7(a), 504 and microloan program pages). Program terms are set by the SBA and can change; lender pricing and credit policy are set by each lender. Program guidelines shown are our lending partners' published minimums as of September 2026 and can change. They are qualification floors, not an offer.

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See whether SBA is your best route — or whether something else is

One application, 14 programs. Free, soft review only, and we will tell you plainly if the answer is to wait a quarter.

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