SBA Loans
Lower-cost capital backed by the Small Business Administration.
Talk to an underwriter at (555) 123-4567
What it is
Sprint is an SBA lender. SBA loans are issued by approved lenders and partially guaranteed by the U.S. Small Business Administration, which lets us offer longer terms and lower monthly payments than we could on a conventional loan of similar risk. SBA financing is often the lowest-cost option for established small businesses with strong credit and a clear use of funds.
The two most common programs are the SBA 7(a) loan, which can be used for working capital, expansion, equipment, refinance, and partner buyouts, and the SBA 504 loan, which is purpose-built for owner-occupied real estate and large equipment purchases. Approval requires Sprint, your business, and the SBA all to underwrite the deal, which is why the process takes longer than non-SBA options. Our SBA team handles the file end to end.
How sba funding works
The path from a quick conversation to money in your account.
Submit a quick file
Send three months of business bank statements and a short application. No hard credit pull at this stage.
We underwrite in-house
A Sprint underwriter reviews the file end to end and walks you through the offer in plain English — amount, term, rate, fees, prepayment.
Sign and fund
Sign the loan documents electronically, we verify, and we wire the funds to your business account.
Is this right for you?
Honest pros and cons. Read both before you decide.
Pros
- Often the lowest payments and longest terms available to small business
- Wide range of allowed uses, including refinancing higher-cost debt
- Available for owner-occupied commercial real estate and major equipment
- Strong fit for acquisitions and partner buyouts
Things to watch
- Documentation and underwriting are heavier than on other products
- The SBA itself underwrites in parallel, which adds steps the lender alone does not control
- Personal guarantee and often collateral required
- Stronger credit profiles needed than on short-term products
What we will need from you
A short, predictable list. Most owners gather this in under an hour.
- Two to three years of business and personal tax returns
- Year-to-date financial statements (P&L and balance sheet)
- Six months of business bank statements
- Personal financial statement for each 20 percent or greater owner
- Business debt schedule and use of funds
- Articles of organization or incorporation and operating agreement
SBA questions
What owners ask us most when they are weighing this product.
What does the SBA underwriting process look like?
SBA closings take longer than non-SBA loans because the SBA itself underwrites in parallel with the lender. We are an SBA lender, so the underwriting and credit committee sit on our side of the table, and we set a realistic expectation for your file when we open it.
Do SBA loans require collateral?
The SBA requires lenders to take available collateral up to the loan amount. For working capital loans, that often means a UCC-1 lien on business assets and a personal guarantee. Real estate loans are secured by the financed property.
Can I use an SBA loan to refinance higher-cost debt?
Often yes. SBA 7(a) is frequently used to refinance high-cost short-term debt when the borrower qualifies and the refinance produces a meaningful payment reduction.
Are there fees on top of interest?
SBA loans include guaranty fees and standard closing costs. We walk you through the all-in cost of the SBA offer so you can compare apples to apples with other options.
Related products
Other options small business owners often weigh next to sba.
Small Business Term Loan
A traditional installment loan from Sprint with a clear amortization schedule and predictable monthly payments.
Learn moreBusiness Line of Credit
A revolving credit line from Sprint you can draw from, repay, and reuse as you go.
Learn moreEquipment Financing
Finance trucks, machinery, kitchen equipment, medical and dental gear. The equipment secures the deal.
Learn moreTalk to us about sba.
A Sprint underwriter will look at your situation and tell you straight whether this is the right fit — or whether something else makes more sense.
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