SBA Loans: Lower Monthly Payments and Longer Repayment Terms (SmartBiz Bank)

Summary

A SmartBiz Bank web page promoting SBA-backed loans with lower monthly payments and longer repayment terms. It lists 10-year repayment terms, $50,000 to $350,000 for working capital and debt refinancing, and SBA-capped variable rates, and states that all direct and indirect owners must be U.S. citizens or U.S. nationals and that applicants must have 3+ years in business. An FAQ covers who is a good candidate, the documents needed to apply and the options if an application is not approved. A footnote says rates on SBA 7(a) loans of $150,000 and less are variable and currently Prime plus 4.75%, and Prime plus 3.0% above $150,000 up to $350,000, all subject to credit approval.

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SBA LOANS

Lower monthly payments and longer repayment terms

We’re streamlining SBA lending and guiding you through the process.

Apply Now

Only takes 5 minutes and doesn't impact your credit score 1

A small business loan with big value

With longer repayment terms and lower rates 2 , SBA-backed loans offer excellent value when you need funding to grow your small business.

10-year repayment terms with low monthly payments

$50,000 - $350,000 for working capital and debt refinancing 3

SBA-capped variable rates with some of the lowest available APRs

All direct and indirect owners must be U.S. citizens or U.S. nationals.

Must be 3+ years in business with good credit and cash flow to qualify

Start your application

How much do you want to borrow?

Use the slider to select your working capital or debt refinance loan amount

Start your application

This calculator is an educational tool intended to help you estimate monthly payment amounts based on the information you enter. The monthly payment shown is an estimate for illustrative purposes only.

Business banking redefined

Our mission is to empower small businesses to thrive by enabling access to the financial services they need.

We fuel the growth of our small business customers through thoughtful innovation. Gone are the days of complicated, slow, and outdated banking processes designed for large businesses. We've redefined the banking journey specifically for small businesses by combining cutting-edge technology and personalized customer support. And when it comes to SBA lending, we help you navigate the noise towards a ‘yes’ quickly by making the complex clear and the process seamless and streamlined.

Welcome to a new era of small business banking.

FAQs

What is an SBA Loan?

SBA loans are government-guaranteed small business loans typically made available to eligible U.S. entrepreneurs through banks and other financial institutions. With longer terms and lower rates, SBA loans provide excellent value for small businesses hoping to grow.

Am I a good candidate for an SBA Loan with SmartBiz Bank?

If you have been in business be 3+ years with good credit and sufficient cash flow to meet SBA debt service coverage requirements (minimum 1.1x BDSCR), you are likely a good candidate. The quickest way to find out is to apply.

What documents do I need to apply for an SBA Loan with SmartBiz Bank?

You can start your application right now and see if you pre-qualify before gathering any documentation at all. After that, our smart technology requests only the documents you actually need to apply. As part of the process, you’ll be asked to provide required financial documentation, including a current year Profit & Loss statement or your most recent business tax return, along with any additional documents needed to complete underwriting.

What are my options if I’m not approved for an SBA Loan?

We work with other banks and lenders that have additional financing options available for businesses that don’t yet qualify. Typically there is no need to fill out more than one application, we’ll present you with other financing offers.

Learn more

When it comes to SBA lending, we help you navigate the noise towards a ‘yes’ quickly. We understand the SBA process so you don’t have to. Our technology and team make the application process simple and easy to navigate. After you start your application, we’ll walk you through every step and answer your questions along the way. But if you’d like to do a little research before you begin, you can learn more here:

SBA Loans overview

Start here and discover more about SBA loans and how they help small businesses.

SBA Loan requirements

Find out which types of businesses can be eligible for an SBA loan from SmartBiz Bank and in the SmartBiz network.

SBA use of funds

How you can use SBA loan proceeds to save money and grow your small business.

SBA loan approval

Learn about SBA loan guidelines and the approval process before applying to ensure a fast turnaround of your application.

SBA Loan rates & fees

Current interest rates, how they work, and other fees and costs associated with SBA loans.

Trusted & Loved

Our customers say Excellent 4.7 out of 5 based on 16,366 reviews

"Fast, efficient, sharp and thorough"

“ Just want to give a shout out to Kenneth Berlin. He was my point of contact . He was fast, efficient, sharp and thorough. His guidance and expertise were reassuring, especially considering the overwhelming world of lending . For your business lending needs, Kenneth will be your advocate. My team thanks him too. ”

Frances A.

"Thanks to SmartBiz we have freed up the capital we need to continue growing."

“ Our healthcare business had been growing very quickly over the past 4 years. We had been using short term financing to fill our financial needs during this period, but it was becoming too expensive. We turned to SmartBiz for help and they delivered! We would like to recognize Chris Schreiber on their team for all of the work he put in to get this SBA loan approved. Thanks to SmartBiz we have freed up the capital we need to continue growing. ”

Michael B.

"I'll be a repeat customer."

“ From day one, Zachary was transparent, knowledgeable, assessed my company quickly regarding being qualified for SBA loan, and provide clear and consistent communication regarding the process. I've already referred him to multiple business partners and I'll be a repeat customer as well. ”

Arian J. P.

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- We conduct a soft credit pull that will not affect your credit score. However, in processing your loan application, SmartBiz Bank and the lenders with whom we work will request your full credit report from one or more consumer reporting agencies, which is considered a hard credit pull and may impact your credit score.
- Interest rates are determined by the applicant's loan size, credit profile and are subject to credit approval.
- Subject to credit approval. Your loan amount will be determined based on many factors, including your credit and financial profile. Not all applicants will qualify for the full amount.

* Interest rates for SBA 7(a) loans of $150,000 and less are variable and are currently Prime plus 4.75%. Interest rates for SBA 7(a) loans over $150,000 and up to $350,000 are variable and are currently Prime plus 3.0%. The final rate on any SBA loan is determined by factors such as the applicant’s business and personal credit history, financial condition, and loan size. All loans are subject to credit approval, and loan terms may vary.

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