Female business owner SBA 7a Financing

SBA 7a Requirements

The business requirements for an SBA 7a Loan are fairly straightforward, and many businesses that have been operating for at least 2 years will qualify. Your business and financial standing will determine how much you can borrow and the exact rates and terms. SMB SBA specializes in helping small to mid-sized businesses get SBA backed funding with the SBA 7a loan program.

Call To Action

Contact Us

This field is for validation purposes and should be left unchanged.

What Do You Need To Qualify for SBA 7a Loans?

At SMB SBA, LLC, we help small businesses navigate the SBA 7(a) loan application process. To qualify, businesses typically need to meet the following requirements:

  • Operate as a for-profit business in the U.S. (Certain industries, such as real estate investment firms, religious organizations, and gambling businesses, are ineligible.)
  • Meet the SBA’s size standards for a small business.
  • Demonstrate creditworthiness and the ability to repay the loan.
  • Exhaust other financing options before applying for an SBA loan.
  • Show a clear business need and how the loan will be used.
  • Be current on all government loans (no delinquencies).
  • Provide collateral for loans over $50,000.
  • Owners with 20% or more ownership must provide a personal guarantee.


While the SBA doesn’t set specific minimums for creditworthiness, lenders typically look for:

  • A strong personal credit score (minimum 640, 690+ recommended)
  • Solid annual revenue
  • At least two years in business


If you meet these criteria, an SBA 7(a) loan could be the perfect financing solution to grow your business. Contact us today to get started!