How to Expedite Getting an SBA Loan

Search around long enough online about small businesses and sooner than later you’ll come across the phrase “small businesses are the backbone of our economy.” That might be a cliche, but as with any old saying, there has to be truth in it for it to have gained so much traction. Indeed, even with the rise of larger and larger corporations, small businesses remain a critical element of the economy as a whole. That’s why the Small Business Administration (SBA) spends so much money guaranteeing loans every year. Unfortunately, there’s sometimes an air of confusion regarding SBA loans –– how to get them, and even how they work. With that in mind, let’s take a look at how you can expedite getting an SBA loan:

Anatomy of an SBA Loan

A common misconception about SBA loans is that they come straight from the government. That’s not quite the case. Instead, the SBA allows banks and other approved lenders to give loans to small businesses that qualify for them and in turn, the SBA guarantees a percentage of that loan. In this way, the SBA incentivizes banks and lenders to give loans to small businesses by offering a security blanket –– if the loanee defaults, the bank will still get most of their money back. (75% of loans above $150,000 and 85% of loans less than $150,000.)

Where to Get an SBA Loan

Again, you can’t get an SBA loan straight from the horse’s mouth; instead, the only places you can get an SBA loan are from approved lenders or banks.

Benefits of an SBA Loan

So now that we’ve covered what an SBA loan is, how it functions, and where you can get one, it’s time to examine why SBA loans are such an attractive prospect for small business owners. In brief, SBA loans are beneficial for businesses because they allow you to acquire a large amount of capital in a relatively short time frame with lower interest rates. As such, it can prove more difficult to qualify for an SBA loan than other financing options, but if you take some time to consider your business’s financial history, you can determine your chances of receiving a loan. And if you do qualify, they’re a fantastic way to secure the cash you need to optimize your business.

Next Steps

Here’s a piece of good news –– National Business Capital & Services now offers SBA loans that can be expedited in as little as six weeks! If you’re looking for a substantial loan to get your business up and running, contact our team today! We’ve got the experience to secure your best possible loan. And for more info, check out our free ebook on the opportunities you could be missing out on without adequate funding:
SBA loan

National Business Capital & Services is the #1 FinTech marketplace offering small business loans and services. Harnessing the power of smart technology and even smarter people, we’ve streamlined the approval process to secure over $1 billion in financing for small business owners to date.

Our expert Business Financing Advisors work within our 75+ Lender Marketplace in real time to give you easy access to the best low-interest SBA loans, short and long-term loans and business lines of credit, as well as a full suite of revenue-driving business services.

We strengthen local communities one small business loan at a time. For every deal we fund, we donate 10 meals to Feeding America!


About the Author, Megan Capobianco

Megan is passionate about helping business owners along their journey - providing them with relevant content they can use in their day-to-day operations.

Disclaimer: The information and insights in this article are provided for informational purposes only, and do not constitute financial, legal, tax, business or personal advise from National Business Capital & Services and the author. Do no rely on this information as advice and please consult with your financial advisor, accountant and/or attorney before making any decisions. If you rely solely in this information it is at your own risk. The information is true and accurate to the best of our knowledge, but there maybe errors, omissions, or mistakes.