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Solutions for Small Business Growth
Lendistry provides small business owners with access to affordable capital through the SBA 7(a) loan program. These government-backed loans are designed for both new and established businesses that need flexible financing to take the next step, strengthen their operations, or pursue new opportunities.
Our Loan Products
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Basic Eligibility Criteria
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Minimum Required Documents
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Betzayda David, Boost Beauty Beyond, Bronx, New York
Basic Eligibility Criteria
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Business Term Loan
Loan Size 1 : $10,000 - $350,000 | Estimated Interest Rate 2 : Fixed, as low as 11.99% | Loan Term: 1 - 5 years | Estimated Processing Time 3 : 3 - 7 business days
Eligibility Requirements:
- 2 years in business or 1 year in business with 5 years' industry experience
- All owners with 20% or more ownership are required to complete identity verification (KYC) and provide a personal guaranty
- No business or personal bankruptcy, charge-offs, or active collections in last 3 years
- Minimum FICO of 620
- Payment-to-Income < 25% 4
- Validated in legal or doing business as name
SBA 7(a) Business Term Loan
Loan Size 1 : $10,000 - $350,000 | Estimated Interest Rate 2 : Variable, as low as 8.25% | Loan Term: 10 years | Estimated Processing Time 3 : 5 - 20 business days
Eligibility Requirements:
- Minimum 2 years in business
- Social security number is required for at least one owner with 20% or more ownership. All owners with 20% or more ownership are required to complete identity verification (KYC) and provide a personal guaranty
- No business or personal bankruptcy, charge-offs, or active collections in last 3 years
- No prior loss on a federally backed loan and not debarred or excluded on the System for Award Management (sam.gov)
- Minimum FICO of 620
- Debt Service Coverage Ratio on the latest business tax return 1.1 or greater
- Validated in legal or doing business as name
SBA 7(a) Standard Loan
Loan Size 1 : $350,001 - $5,000,000 | Estimated Interest Rate 2 : Variable, as low as 7.75% | Loan Term: 10 - 25 years | Estimated Processing Time 3 : 35 - 90 business days
Eligibility Requirements:
- Minimum 2 years in business, business acquisitions are acceptable and may have start-up fundamentals, such as projections or new entities
- Social security number is required for at least one owner with 20% or more ownership. All owners with 20% or more ownership are required to complete identity verification (KYC) and provide a personal guaranty
- No business or personal bankruptcy, charge-offs, or active collections in last 3 years
- No prior loss on a federally backed loan and not debarred or excluded on the System for Award Management (sam.gov)
- Minimum FICO of 620
- Debt Service Coverage Ratio on the latest business tax return 1.1 or greater and validated by last 90-days of business bank data
- Validated in legal or doing business as name
1 The minimum loan amount is $10,000, except in Rhode Island ($25,000 for sole proprietorships) and Maryland ($15,000 for sole proprietorships and business entities other than corporations). The availability of any applicable business loan product is subject to certain eligibility requirements, which may include without limitation, the creditworthiness of the business and its owners, and the applicant's acceptance of the terms of loan documentation to be provided by the lender.
2 Any information provided, including any hypothetical credit amounts, rates or terms, is provided for reference purposes only and will not constitute an offer for credit. Displayed rates represent the lowest available rates and are not available to all borrowers; actual rates will depend on creditworthiness, loan amount, term, and other factors. Fees, including origination fees and, for SBA loans, guarantee fees, may apply.
3 Estimated processing time to close based on loan type selected.
4 Payment-to-income ratio measures the percentage of gross monthly income used to cover debt obligations.
Our Loan Products
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Business Term Loan
A short-term, fully amortizing fixed-rate loan designed for established businesses that need capital quickly.
- Loan Size 1 : $10,000 - $350,000
- Estimated Interest Rate 2 : Fixed, as low as 11.99%
- Loan Term: 1 - 5 years
- Estimated Processing Time 3 : 3 - 7 business days
Typical Use Cases
Working Capital | Payroll & Operating Expenses | Marketing & Growth Campaigns | Inventory Purchases | Cash Flow Gaps | Refinance Existing Debt
Time in Business
2 years in business or 1 year in business with 5 years' industry experience
SBA 7(a) Business Term Loan
A government-backed, fully amortizing loan ideal for small businesses owned by U.S. citizens or U.S. nationals with principal residence in the U.S., its territories, or possessions, looking for competitive rates and longer repayment terms. Lawful Permanent Residents (green card holders) are no longer eligible for SBA loan programs.
- Loan Size 1 : $10,000 - $350,000
- Estimated Interest Rate 2 : Variable, as low as 8.25%
- Loan Term: 10 years
- Estimated Processing Time 3 : 5 - 20 business days
Typical Use Cases
Working Capital | Equipment Financing | Business Acquisition | Leasehold Improvements | Debt Refinancing
Time in Business
Minimum 2 years in business
SBA 7(a) Standard Loan
Lendistry's flagship SBA product for larger capital needs. As an SBA Preferred Lender, Lendistry can approve these loans faster than non-Preferred Lenders. Note that this loan is only available to businesses owned by U.S. citizens or U.S. nationals with principal residence in the U.S., its territories, or possessions. Lawful Permanent Residents (green card holders) are no longer eligible for SBA loan programs.
- Loan Size 1 : $350,001 - $5,000,000
- Estimated Interest Rate 2 : Variable, as low as 7.75%
- Loan Term: 10 - 25 years
- Estimated Processing Time 3 : 35 - 90 business days
Typical Use Cases
Commercial Real Estate | Large Equipment Purchases | Business Expansion | Franchise Financing | Acquisition of a Business | Mixed Use of Proceeds
Time in Business
Minimum 2 years in business, business acquisitions are acceptable and may have start-up fundamentals, such as projections or new entities
1 The minimum loan amount is $10,000, except in Rhode Island ($25,000 for sole proprietorships) and Maryland ($15,000 for sole proprietorships and business entities other than corporations). The availability of any applicable business loan product is subject to certain eligibility requirements, which may include without limitation, the creditworthiness of the business and its owners, and the applicant's acceptance of the terms of loan documentation to be provided by the lender.
2 Any information provided, including any hypothetical credit amounts, rates or terms, is provided for reference purposes only and will not constitute an offer for credit. Displayed rates represent the lowest available rates and are not available to all borrowers; actual rates will depend on creditworthiness, loan amount, term, and other factors. Fees, including origination fees and, for SBA loans, guarantee fees, may apply.
3 Estimated processing time to close based on loan type selected.
Minimum Required Documents 1
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Business Owner(s) Identification Documents
- U.S. government-issued ID
Business Tax Return(s)
- Most recently filed (3 years required for SBA loans)
Additional Minimum Required Documents for SBA loans
- More Documentation May Be Required for Eligibility Review 2
Personal Tax Return
- Most recent year filed
Personal Financial Statement
- Listing all household assets and liabilities, signed by you and your spouse (if applicable)
Collateral Information
- Complete list of business assets used as collateral to secure the loan
Business License(s)
- All valid and current business license(s) required by law for your state/industry
Use of Proceeds
- Include any additional SBA-required documentation based on use of proceeds (e.g., environmental reports, debt refinance support or other documents) to ensure compliance and timely processing
1 Additional items may be required depending on eligible financing program. FICO® Scores are the standard measure of credit risk used by lenders to evaluate creditworthiness.
2 Approval is subject to (i) provision and validation of additional information and documentation, if required, (ii) provision and validation of additional SBA certifications, and (iii) issuance of Guarantee by the SBA.
Benefits of SBA 7(a) Loans
The SBA 7(a) Loan Program is one of the most widely used small business financing options because of its competitive interest rates, low monthly payments, longer terms, and shorter prepayment structures. These features help business owners access capital on terms designed to support long-term sustainability.
A Streamlined Way to Apply
Our application process is fully online, fast, and simple to complete. Business owners can work through it at their own pace and from any device. Submitting an application does not impact your credit score, making it easy to explore your options without added pressure.
Work With an SBA Preferred Lender
As an SBA Preferred Lender, Lendistry SBLC, LLC has been selected by the SBA to process SBA 7(a) applications efficiently and provide a responsive experience from start to finish.
Frequently Asked Questions
What is the Small Business Administration?
The Small Business Administration (SBA) is a U.S. federal agency that helps Americans start, build, and grow businesses. The SBA provides counseling, capital, and contracting expertise to small businesses.
What is an SBA 7(a) loan?
A loan program that provides loan guaranties to designated lenders. These guaranties allow them to provide financing for small businesses. SBA 7(a) loans can be used for working capital, equipment purchase, real estate purchase, debt refinance, and more, typically offering competitive terms and lower down payments.
How are SBA 7(a) loans tied to the government?
The SBA created government guaranteed loan programs to help lenders provide capital to more small businesses. With SBA loans, the U.S. government absorbs some of the risk that lenders take on by guaranteeing a portion of the loans, allowing lenders to offer competitive terms to small businesses that may not qualify for conventional loans.
Do you have to pay back an SBA loan?
Yes, SBA loans must be paid back. The SBA guarantees loans for lenders; it does not forgive them. Defaulting on an SBA loan can lead to wage garnishments, tax and security garnishments, bank account levies, and negative credit impact.
Can you apply for an SBA loan if you have existing debt?
It depends on the type and amount of the debt and how the new loan will affect cash flow. Lenders will assess overall leverage and repayment capacity.
How long does the SBA 7(a) process take?
Typical timelines range from a few weeks to a few months after submission, depending on completeness, collateral, and lender processing times.
Who is eligible for an SBA 7(a) Loan?
Eligibility depends on business size, type, owner-investment, and use of proceeds. Most small, for-profit businesses with a demonstrated ability to repay and a solid business plan qualify, though there are industry and use-case limits. Visit here to learn more eligibility requirements.
Do startups qualify for SBA 7(a) Loans?
Startups can qualify if they meet SBA size standards, have a viable business plan, and the owner has relevant experience and strong repayment prospects; some programs or exceptions may apply. Lendistry requires businesses to be in operation for 2 years or more.
What is an SBA Preferred Lender?
Preferred Lenders have delegated authority to approve certain SBA loans, potentially shortening approval times and streamlining the process.
Can I use an SBA 7(a) loan for equipment?
Yes. SBA 7(a) loans may be used to purchase, upgrade, or replace equipment. Equipment is defined as durable, non-consumable assets that are used long-term to deliver services, produce income, or manufacture products. Because they offer longer terms and lower rates, SBA 7(a) loans can help business owners buy or repair high-value equipment with less impact to their cash flow.
Move Forward With a Lender That Understands Small Business
If you are ready to take the first step, Lendistry’s team can help you understand which financing solution may be the best fit for your business goals.