The U.S. Small Business Administration (SBA) partners with lenders to offer attractive loan terms and affordable interest rates for small business owners.
Not all of LendingTree’s partners offer SBA loans. If you choose to get business loan offers through LendingTree, you may see results with different types of business loans.
Updated
Content was accurate at the time of publication.
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Lender
Best for…
Max loan amount
These are the maximum total loan amounts. Maximums for specific loan types, or the maximum provided by the SBA, may be lower. Some lenders combine SBA loans with traditional term loans to increase the amount they can offer.
Average loan amount
Based on 2024 fiscal year data.
Best for: Large loan amounts – 504 loan funds can be used for purchasing equipment, partner buyouts, commercial real estate and more. And if you need working capital,
SBA Express loans have an expedited turnaround time of around 36 hours, compared to the typical five to 10 business day timeline with SBA 7(a) loans. That being said, this only accounts for the time it takes for the SBA to review your application — the actual time to funding may be longer.
If you need funds beyond what an Express loan can provide, the 7(a) loan provides up to — it just comes with a slightly longer wait time.
No origination or SBA fees for underserved business owners
Cons
Limited full-service branches
Not transparent about eligibility criteria
According to a LendingTree study, male-owned businesses received the majority of SBA loan funding in 2024. To make it easier for women-owned businesses, veterans and minority entrepreneurs to get the funding they need to achieve their goals, Huntington’s Lift Local Business program offers loans designed specifically for business owners who are historically underserved in the market.
The program offers smaller SBA loans (up to $150,000) with no origination or SBA fees. Businesses that participate in the Lift Local program also gain access to free entrepreneurial courses and business planning support. And if you need more than the Lift Local program can provide, Huntington also offers standard SBA 7(a), SBA 504 and SBA Express loans.
Huntington doesn’t disclose its SBA loan requirements, so you’ll need to contact the bank directly to learn more. However, your odds of approval might be higher if you meet the following criteria:
The U.S. Small Business Administration (SBA) partners with banks, credit unions and online lenders to help small businesses get the funding they need.
The SBA guarantees up to 75% to 90% of the loan, which reduces lender risk and potentially makes it easier for borrowers to qualify.
SBA loans come with capped interest rates and long repayment terms, but they’re slower to fund than other types of small business loans. The process from application to funding could take up to two months or longer, though working with an SBA Preferred Lender could shorten this wait to as little as two weeks.
Types of SBA loans
The SBA partners with a wide network of lenders to offer a variety of financing solutions to meet your business needs. Here are the most common SBA loans and what they can provide:
SBA 7(a): The most popular type of SBA loan, 7(a) loans offer up to
SBA CAPLines: These lines of credit fall under the 7(a) loan umbrella, but offer financing on a revolving basis.
SBA Express: This is a speedier version of the popular SBA 7(a) loan, with a turnaround time of around 36 hours. SBA Express loan amounts are capped at
SBA microloan: These smaller loans go up to with shorter loan terms, usually capped at seven years, but they may be more attainable than other types of SBA loans.
Understanding SBA loan maximums
The SBA has maximum caps for their portion of a loan. For example, the SBA will back up to for a 504 loan.
Some lenders are able to provide loan amounts above this amount by combining an SBA loan with a conventional term loan. Depending on the lender, this additional portion may have the same interest rate as the SBA-backed portion of the loan, or it may have a different interest rate.
If you’re looking for a 7(a) loan over or a 504 loan over , talk with your lender to learn how that will affect your interest rate, fees, and repayment terms.
Pros and cons of SBA loans
PROS
Can have more lenient qualification criteria than traditional loans
SBA interest rates are capped, and may be lower than traditional term loan rates
Long loan terms up to 25 years
Funds can be used to cover a variety of business expenses
May require collateral and/or a personal guarantee to help reduce lender risk.
Slow time to funding — potentially as long as 60 to 90 days.
Typically not ideal for borrowers with poor credit
How to get an SBA loan
If you weigh the pros and cons of SBA loans and decide to pursue this type of financing, there are a few steps you’ll need to take.
1. Choose an SBA loan type
Since partner lenders issue SBA loans, you’ll need to choose a lender offering the specific type of SBA loan you need. To choose an SBA loan type, consider the amount of money you need, how quickly you need it and what you plan to do with the funds.
Once you pinpoint your needs, the SBA’s Lender Match tool can help you filter options based on your business’s criteria, location and desired loan amount. You can also consult your local SBA District Office for recommendations.
Use our SBA loan calculator to see if you can afford your loan’s monthly payments.
2. Review eligibility requirements
While the SBA imposes some regulations, like interest rate caps and small business size standards, the specific criteria you’ll need to meet to qualify for an SBA loan will depend on the lender. Before you apply, take some time to understand your odds of approval with different SBA lenders.
In general, business owners with a FICO Score of 650 or higher and at least two years in operation have higher chances of approval, though some SBA lenders have more flexible criteria. For example, an SBA microlender might offer startup business loans with lower minimum credit scores, but this flexibility often requires collateral and/or a personal guarantee.
3. Compare lenders
Banks, credit unions and online lenders have all been known to offer SBA loans, so you’ll need to compare loan amounts, interest rates, eligibility criteria and other factors to choose the best lender for your business.
Keep in mind that the lender advertising the lowest starting rates may not be the lender that’s offering the best deal overall. Some lenders may have additional fees that affect the total cost of the loan, so you’ll need to request a quote to compare costs between lenders.
It’s also important to consider the reputation of each lender you’re considering. When in doubt, small business lender reviews can help you understand the pros and cons of each of your options.
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4. Gather required documents
Once you find an SBA lender that matches your business needs, it’s time to get your documents in order. Though every lender will have its own list of required documents, gathering this essential paperwork ahead of time may speed up the application process:
You can usually submit an SBA loan application online, though some traditional lenders might require a phone call or in-person appointment. Lenders may also request additional documents as needed.
Non-real estate SBA loans can take 30 to 60 days to process from start to finish, with real estate loans taking as long as 60 to 90 days. As covered above, working with an SBA Preferred lender could shorten this timeline to as quick as two weeks.
Once you’re approved, be sure to review your business loan agreement to ensure you understand the rates, terms and any additional fees that might apply, such as late charges and prepayment penalties.
Alternatives to SBA loans
Though SBA loans have some distinct advantages, they might not be right for every business. If you’re unable to qualify for an SBA loan, or you can’t afford to wait for government-backed financing, here are some additional funding options to consider.
Traditional small business loans
Like SBA loans, these loans deliver money in a lump sum that’s repaid over time with fixed payments of both principal and interest. Small business loans are provided by traditional and alternative lenders.
While traditional lenders tend to offer the most competitive rates and terms, the eligibility requirements may be strict, and funding may take a few weeks. In comparison, business loans offered by online lenders tend to be easier to qualify for and faster to fund — sometimes as soon as the same day you apply. However, the cost of borrowing will likely be higher.
Business lines of credit
If you’re interested in flexible financing but don’t meet the criteria to qualify for an SBA CAPLine, you could apply for a business line of credit from a non-SBA lender.
In addition to small business loans, many alternative lenders offer lines of credit that you can use to cover a wide range of business costs over time. However, lines of credit may vary in how they work, so it’s important to understand the terms before you borrow.
Commercial real estate loans
If you’re planning to use SBA loan funds to purchase or renovate a commercial space for your business, you could also consider a commercial real estate loan. These loans are much like home loans, but instead of financing residential real estate, they’re used to invest in commercial property.
As with a mortgage, the property you’re purchasing typically acts as collateral to secure the loan. Commercial real estate loans are commonly offered by traditional banks.
Microloans
Due to their lower loan amounts, SBA microloans may be easier to qualify for than other types of SBA loans. However, you could also look into getting a microloan from another lender.
For example, nonprofits like and offer microloan programs with low or no interest. These programs are targeted at business owners from underserved communities, and they may provide additional services like business coaching and mentorship. That being said, microloans can be competitive and, depending on the lender, they could take several weeks to fund.
Frequently asked questions
Based on loan amounts, took the lead for the fiscal year 2024, providing $2.1 billion worth of SBA funding to small business owners nationwide. Based on approval count, Huntington National Bank was the winner — it approved 7,577 loans in 2024. Another high-performing SBA lender was , with approval amounts close to $2 billion.
An SBA microloan tends to have more lenient eligibility requirements, making it easier to get than a 7(a) or 504 loan. A microloan generally offers funds between $500 and $50,000 for small businesses. The SBA reports the average microloan is about $13,000.
Despite their advantages, SBA loans tend to be best suited for established businesses, as many lenders require businesses to be in operation for at least a few years to qualify. If your application for an SBA loan is denied, there may be a few steps you can take, depending on the reason why.
If your application was rejected because your time in business is too short, your revenue is too low or your credit score needs work, it might be best to let your business mature before reapplying for financing. You may also be able to qualify for a different type of loan, especially if you’re willing to pay more for the funds.
Our methodology: How we chose the best SBA lenders
We reviewed more than 20 banks, credit unions and online lenders to determine the best SBA lending options. To appear on our list, lenders had to meet the following criteria:
Approval count: We favored SBA lenders with a track record of high approval counts in fiscal years 2024 and thus far in 2025.
Preferred lenders: We prioritized lenders that meet the performance criteria required to participate in the SBA Preferred Lender Program (PLP), which can expedite the application and approval process.
Eligibility criteria: To include options for businesses that may not meet the eligibility criteria with preferred lenders, we also looked for alternative lenders offering SBA loans with flexible eligibility requirements.
Repayment experience: We considered each lender’s reputation and business practices, favoring lenders that report to all major credit bureaus, offer reliable customer service and provide unique perks to customers, like business coaching.
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