sba lending
Secure Your Business Growth with SBA Loans
At Ignite Capital, we understand the challenges that small business owners face when seeking capital to grow their operations. That’s why we offer Small Business Administration (SBA) Loans—one of the most affordable and flexible financing options available for small businesses. SBA loans come with low interest rates, long repayment terms, and minimal down payments, making them an excellent choice for businesses that qualify.
Why Work With Us?
150
Million Funded
25k
Companies Funded
50
States Served
Why Choose SBA Loans?
Low Interest Rates
SBA loans feature some of the most competitive rates on the market, ensuring that your payments remain manageable.
Minimal Down Payments
SBA loans require lower down payments compared to conventional loans, preserving your capital for other business needs.
Loan Amounts Up to $5 Million
Whether you’re expanding, buying equipment, or refinancing debt, SBA loans can provide the funds you need.
Extended Repayment Terms
With terms up to 25 years, SBA loans allow you to repay your loan at a comfortable pace, helping you keep more of your cash flow.
SBA 7(a) Loans
SBA 504 Loans
SBA Express Loans
How to Apply?
1. Application & Pre-Approval
2. Submit Documentation
The next step is submitting required documents, which typically include:
- Business financial statements (P&L and Balance Sheet)
- Recent tax returns (usually 2 years)
- Bank statements (3-6 months)
- Credit score and history
3. Approval & Credit Limit
Once approved, you’ll receive access to a revolving credit limit. You can withdraw funds as needed and only pay interest on the amount you use. Repayments will replenish your available credit, giving you continued access to capital.
4. Ongoing Access
Use your line of credit whenever your business needs it, whether for growth initiatives, unexpected expenses, or short-term cash flow gaps.
Benefits of a SBA Lending
How to Use It?
Benefits
Flexible Borrowing
Draw from your credit limit at any time, with no need to reapply when you need additional capital.
Interest on Used Funds Only
You only pay interest on the amount you withdraw, helping to control your business’s financing costs.
Replenish & Reuse
Once you repay what you’ve borrowed, the credit becomes available again, offering long-term flexibility.
No Collateral (in some cases)
Depending on your business’s financial strength and credit score, unsecured lines of credit may be available without requiring assets as collateral.
The Ignite Capital Advantage
Business Requirements
625 Personal FICO Score
2+ Years in Business
Profitable or Near-Profitable Operations
Collateral
FAQs
What is SBA lending?
SBA lending refers to loans guaranteed by the Small Business Administration (SBA), designed to support small businesses in obtaining financing. The SBA provides a guarantee to lenders, reducing their risk and making it easier for small businesses to secure loans.
What types of loans does the SBA offer?
The SBA primarily offers several loan programs, including:
- 7(a) Loan Program: General purpose loans for various business needs.
- 504 Loan Program: Long-term financing for real estate and equipment.
- Microloan Program: Small loans for startups and small businesses.
- Disaster Loans: Loans for businesses affected by disasters.
Who is eligible for SBA loans?
Eligibility typically includes:
- A for-profit business in the U.S.
- A business that meets SBA size standards (usually under 500 employees).
- A business that operates for a legitimate purpose and has a reasonable chance of success.
- Owners must have good credit and be able to demonstrate repayment ability.
What can SBA loans be used for?
SBA loans can be used for various purposes, including:
- Purchasing real estate
- Buying equipment
- Working capital
- Refinancing existing debt
- Starting a new business
What are the interest rates on SBA loans?
Interest rates vary based on the lender and the loan program, but they are typically competitive. The SBA sets maximum rates, which can fluctuate based on the market.
How long does it take to get approved for an SBA loan?
Approval times can vary widely, from a few weeks to several months, depending on the complexity of the loan and the lender’s process.
What documents are needed to apply for an SBA loan?
Common documentation includes:
- Business plan
- Financial statements (income statements, balance sheets)
- Personal and business tax returns
- Resumes of owners and key management
- A detailed list of business assets and liabilities
Are there any fees associated with SBA loans?
Yes, fees may include:
- SBA guarantee fees
- Loan packaging fees
- Closing costs
- Appraisal fees
Can I apply for an SBA loan online?
Many lenders offer online applications for SBA loans, but you may also need to provide physical documents and meet in person for some lenders.
What if my application is denied?
If your application is denied, you can ask the lender for specific reasons. You may have the option to appeal the decision or consider reapplying after addressing the issues raised.