A conventional business loan from is solely the bank’s risk and subject to Bank lending guidelines. A SBA loan is a business loan that splits the risk between the Bank and the SBA, which guarantees a portion of those loans. SBA loans are subject to the lending guidelines of both the SBA and the Lender.
No. A SBA loan must be approved by the issuing bank, and each bank has its own lending criteria. Key Commercial Capital works to identify which bank is most likely to fund your type of business and work with a clients individual case.
SBA loans are subject to SBA lending guidelines. Reasons you can not get an SBA loan include: Not a US Citizen or permanent resident, defaulting on a past government loan, recent bankruptcies or poor credit. Even if you’re not sure you can qualify, we still encourage you to speak with a Key Commercial Capital advisor as we have creative solutions to your funding needs.
No. SBA loans are also for startup businesses. It’s even possible to borrow money without personal collateral for a startup. Additionally, SBA loans can be used for Acquisitions, Commercial Real Estate, Partner Buyouts, Expansion, Loan Refinancing or Working Capital.