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SBA Loans - Here's the Skinny!

Loans through the Small Business Administration (SBA) offer flexible and competitive financing to help you launch, manage, and grow your business. Businesses can utilize loans for major fixed assets, payment of operating expenses, equipment purchases, and more.  In short: you get the funds you need from your local nationwide bank with benefits like long-term, fixed-rate financing, and lower (and more predictable) monthly payments.

So, how do you get approved for an SBA loan? We’re glad you asked! Qualifying for an SBA loan is easiest when you’re prepared. Here is a checklist that should help:

  • Build your personal credit score
  • Know your lender’s requirements
  • Gather important documents

Start by asking yourself why you need the loan. How will the money help you start your business, manage the daily expenses, grow your business, and provide a bit of a safety cushion for unexpected expenses? These are questions lenders will ask so preparing your answers in advance and providing documents as proof will go a long way in securing your loan.

If your business is established and has been operating for at least a year you’ll have more funding options. If you’re just getting your business off the ground you need to provide documents that map out exactly how your business will be successful and what you’ll do to ensure that happens.

Falcon National Bank has been recognized as a nationwide Preferred SBA Lender, which allows us to quickly and effectively process a loan through the SBA Program, and find the right financing that works for you and your business. Contact us if you have questions or are ready to apply for an SBA loan!


Brandi Nelson

VP/Manager of SBA Lending