SBA Loan

An SBA loan is considered the gold standard of business financing. It can be used for a wide range of business purposes and because the SBA guarantees a large portion of the loan, interest rates are lower than other loan types. It’s a lengthy process but should be a consideration for any long term financing plan.

Apply for an SBA Loan

SBA Loan Calculator

Amount Seeking
Desired Term
Estimated Monthly Payment
Loans up to
Term lengths up to
10 years
Interest from
Funding within
90 Days
Low interest rate and long term length
SBA guarantee lowers collateral requirement

What You Need to Get Started

Minimum Qualifications

2 years in business

$250,000 annual revenue

680+ FICO

Profitable and cash flow positive


Required Documents

Completed application

2 most recent business tax returns

2 most recent personal tax returns

6 most recent business bank statements

Personal financial statement

Year to date financials

Current debt schedule

Detailed use of proceeds

Ready to Get Started? Apply Now

I wanted to add a patio to my restaurant and buy some very expensive new kitchen equipment. I was able to do both and consolidate some business credit card debt with the SBA loan I secured through Clear.

Olivia C Owner

Frequently Asked Questions

An SBA loan can be used for a wide range of business purposes including expansion, inventory, equipment, acquisitions, commercial real estate and working capital.

This is a bank loan with an additional SBA review. It requires collateral and is multi-stage approval process. It involves a lot of documentation and the business, guarantors and use of funds are all underwritten.

The interest rate on an SBA loan is typically pegged to the Prime interest rate. Prime + 2.5% is a very common SBA loan interest rate.

No. An SBA loan is underwritten and issued by banks and approved non-bank lenders. It’s called an SBA loan because the SBA guarantees a large portion of the loan.

The interest rate is typically variable and adjusts quarterly.

We consider an SBA loan to be very difficult to get approved for.

There is typically no prepayment penalty.

The lender will likely charge an origination fee and the SBA’s guarantee fee.

Payments are made monthly

Real estate is typically required as collateral for an SBA loan.