SBA Lending

SBA loans are small-business loans guaranteed by the SBA and issued by participating lenders, mostly banks. The SBA can guarantee up to 75% of the loan between $150,000 and $5,000,000. The program's maximum loan amount is $5 million.

The benefits of an SBA-guaranteed loan are:

• SBA loans can have great advantages over conventional loans, including longer repayment terms which means lower monthly payments and lower down payments which makes upfront costs more affordable.
• Minimum down payment for real estate is 10% and all other loans are 20%.

• If you are a startup with previous business experience
• If you are a for-profit business (with time in business above 2 years)
• If the business owner's personal credit score is good
• The business must be U.S. based and owned by U.S. citizen or Lawful
• Permanent resident who is at least 21 years old
• If there are no outstanding tax liens
• No bankruptcies or foreclosures in the past 3 years
• No recent charge-offs or settlements
• Current on government-related loans

• Loan request amount and detailed allocation of funds
• Year-to-date profit and loss (P&L) statement and balance sheet
• Projected financials (one to three years)
• Business tax returns (last two years)
• Personal tax returns (last two years)
• Personal financial statement
• Owner resumes

Reach out to us at [email protected] for more information on applying.

First, the bank reviews the application. If approved by the bank, the application is submitted to the SBA for the SBA approval. From application submission to disbursement of funds, it can take approximately 30-90 days depending on the complexity of the loan.

A business loan from ConnectOne Bank is solely the bank's risk and subject to our lending guidelines. An SBA loan is a business loan in which the SBA guarantees a portion of that loan. SBA loans are subject to the lending guidelines of both the SBA and ConnectOne Bank.