The Small Business Administration (SBA) offers a range of loan programs designed to support small businesses. Rather than issuing loans directly, the SBA provides lenders with a federal guarantee for loans within defined minimum and maximum amounts. As a result, the terms of SBA loans can vary based on the specific guidelines of each lender.
SBA loans are known for their favorable terms, including lower down payments and longer repayment periods. One of the most sought-after options is the SBA 7(a) loan, created to help small businesses and startups secure financing for a variety of general business needs.
Common uses for SBA 7(a) loans include funding working capital, purchasing machinery and equipment, and acquiring commercial real estate.
At Blueleaf Capital, we also offer the SBA Paycheck Protection Program (PPP), featuring a fixed APR of 1% for the loan term. Payments are deferred for 10 months, and you may be eligible for loan forgiveness.
Benefits
- Who Qualifies?: Businesses with strong performance, even owners with poor credit histories can be approved.
- Faster Approval: You’ll receive an answer on your application from Blueleaf Capital within 24 hours, and funds are deposited the same day in most cases. Banks require 4-6 weeks on average.
- Simple Application Process: Only a simple application and 6 months of bank and/or credit card statements are needed—no business plans required!
- Renewal is Quick & Easy: For clients in good standing, the renewal process can be handled in 2-3 hours.
- No Collateral Needed: We only look at the health of your business, and no personal collateral is needed.
- Affordable Payments: Pay back your funds with small daily, weekly, or monthly payments, unlike the large payments required by traditional banks.
Requirements
- The business must be active for at least 12 months
- Monthly gross income of $30,000 or more (reflected in business bank statements)
Necessary Documents:
- Signed Application
- 6 months of bank statements
- 2 Years of Business Returns
- 1 Year of Personal Tax Returns
- If a loan request above $150,000
- Year-to-date financial statements (Profit & Loss Statement and Balance Sheet)
