SBA is the cheapest money available to a small business, and the slowest. A conventional term loan costs more and closes in days. The decision is almost always about your calendar.
| SBA 7(a) | Conventional term loan | |
|---|---|---|
| Amount | Up to $5M | $25K – $500K |
| Speed | 45–90 days | 3–10 business days |
| Credit needed | 660+ typically | 640+ |
| Term | 10 years working capital, 25 years real estate | 12–60 months |
| Documentation | Heavy — returns, financials, projections | Moderate — statements, P&L, returns |
| Collateral | Usually pledged, plus personal guarantee | Often unsecured beyond a UCC and guarantee |
| Best use | Acquisition, real estate, refinance, expansion | Defined project you need funded now |
Start the SBA file if the use of funds is long-lived — a building, an acquisition, a refinance. Use a term loan when the opportunity closes before an SBA lender could even order an appraisal.
A four-minute application, a soft review, and zero impact on your credit score. Travis reads every submission personally and calls back with real options — usually the same business day.
Talk to Travis directly612-927-2055Soft review · No obligation · No impact on your credit score
