U.S. Bank is proud to be a Small Business Administration (SBA) Preferred Lender, SBA loans have many benefits such as smaller down payments, fixed and variable rate options. SBA loans are fully amortized so you can make the minimum required payment each month and you’ll have the full term of the loan to repay it – no large payment will be due at the end.
Small Business Administration (SBA) loans are long-term business loans partially guaranteed by the government. They can be easier to qualify for than conventional business loans. They’re partially guaranteed by the SBA, which reduces the risk to lenders and makes it easier for businesses to secure the funds they need.
$2 billion
in approved SBA 7(a) loans by U.S. Bank over the last five years
U.S. Bank offers secured or unsecured loans and lines of credit with fixed or variable rate programs between $5,000 and $250,000 and a streamlined online application process.
Our Business Bankers will guide you through these government loan program options to help determine which SBA loan is best for your business.
Best for:
Business acquisition, partner buyout and partial buy-in, equipment, debt refinancing, tenant improvement, working capital and inventory
Key benefits:
Best for:
Owner-occupied commercial real estate purchase, expansion, refinance or construction
Key benefits:
Best for:
Owner-occupied commercial real estate purchase, refinance and construction
Key benefits:
If you're a professional in commercial real estate, lending or finance-related industry, contact a banker to learn how our SBA Division can assist you and your business customers.
Unlike conventional term loans, an SBA Loan offers business owners the opportunity to take advantage of favorable terms as part of the SBA program, while removing some of the barriers to traditional financing options.
As a Preferred SBA Lender, our program offers a faster loan process with reduced paperwork. We customize SBA loans based on the unique needs of the business owner.
All SBA loans require some form of collateral. While lenders must meet the administration's minimum requirements, they make final determinations regarding collateral on a case-by-case basis. SBA loan collateral can take many different forms, including:
Securing an SBA loan can be competitive, but there are several steps you can take to improve your chances of approval. One of the most important factors in the approval process is your credit score. Both your personal and business credit scores play a crucial role. If your scores are not where you'd like them to be, focus on paying down existing debts and ensuring that all payments are made on time.
Another critical element is your business plan. Lenders want to see that you have a clear vision for your business and a solid strategy for growth. Your business plan should include detailed financial projections that demonstrate how you expect your business to perform over the next few years. These projections should illustrate your ability to repay the loan.
Demonstrating industry experience can also significantly enhance your application. Lenders are more likely to approve loans for businesses run by individuals with a proven track record in the industry. If you are new to the field, consider partnering with someone who has relevant experience or highlight any transferable skills from your previous roles.
Finally, be prepared to invest in your business. Be prepared to contribute some of your own funds or assets to the business. This shows lenders that you are committed to your business's success and willing to share in the risk.
Learn more about how the application process works.
Equal Housing Lender
