Get Business Financing Application

For businesses that want an SBA loan but need cash fast, the federal government created the SBA Express loans. There are two types of these fast business loans, the SBA Express and the Export Express. For the SBA Express, the SBA will respond to your application in as little as 36 hours.

Yes, it is possible to get a small business loan even if you have bad credit. This is because your credit score doesn't matter as much as the overall financial health of your business. Many lenders require a minimum credit score of 500, at least six months in business, and more than $30,000 in annual revenue.

Most will likely want some form of the following: Information about your business. ... Financial statements for you and your business. ... Details about the business's owners. ... Information about your collateral. ... Personal guarantee.

The U.S. Small Business Administration (SBA) has several programs to help finance small business loans. Many SBA loan programs combine business coaching and technical assistance, as well as access to financing, on more flexible terms. One example is the 7 (a) Loan Program, SBA's most widely-used loan guarantee program.

However, a credit score of 680 or higher is generally considered good and will make you eligible for most small business loans. A credit score of 720 or higher is considered excellent and will give you access to the best interest rates and terms.

The easiest way to get a business loan is to prepare documents ahead of time. This can include your business tax returns for at least the past two years, personal tax returns for the past year, and business bank statements for the past six months.

SBA Express It features the easiest SBA application process and accelerated approval times, plus it offers longer terms and lower down payment requirements than conventional loans.

The typical business loan from a bank or credit union can take weeks or months to process. Fast business loans, on the other hand, may be funded within a week of submitting an application. Some lenders are able to assess and underwrite loans in a matter of hours and fund them within a day.