Think you know SBA financing


As a small business owner, you’ve probably heard about Small Business Administration (SBA) lending before. But have you ever considered these loans to meet your company’s credit needs?

Time to scrap old assumptions and seize the opportunities that SBA capital can provide.

With wide-ranging terms, small loan sizes, and electronic processing, SBA funding and financial partners like Truist offer all kinds of financing options for expanding businesses.

Four reasons you should consider SBA financing:

1. More flexible standards

Growing companies often go through times when collateral is tight, down payment funds are short, and loan payments will be a stretch. An SBA loan may offer the credit flexibility your company needs.

You could receive SBA funding for the same reasons your business doesn’t qualify for traditional lending—inadequate operating history, deficient collateral, lacking down payment, and insufficient cash flow for short-term loan payments.

Expanding businesses in need of capital are a perfect fit for the flexible terms and requirements of SBA financing. Recent adjustments to SBA loan standards allow even more businesses to qualify, so be sure to check your company’s eligibility.

2. Variety of lending programs

  • SBA funding offers a wide variety of lending options to better fit your business, its plans, and your capital needs.
  • SBA 7(a) loan programs provide financing with flexible terms and rates for commercial real estate, working capital, equipment, acquisitions, upgrades, and goodwill (brand value).
  • SBA Express Programs offer a line of credit or term loan as an affordable option for companies that create trading assets.
  • U.S. Department of Agriculture loan programs are available in many rural areas and have a wide range of options at the county and state level.
  • Exporters can quickly receive loans with favorable terms via SBA Export Express Programs or finance short-term capital needs like inventory purchases and financing receivables through Export Working Capital Programs. 
  • Commercial real estate owners may qualify for low down payments and flexible spending options through the SBA 504 loan program. 

3. Simplified application

The government has streamlined the SBA loan application process ,and your banker can help you complete the paperwork. Truist provides SBA specialists who use their detailed SBA knowledge and experience to simplify your application process and secure financing for your company quickly.

4. Fast turnaround

Did you realize that recent program changes have accelerated SBA credit approval? Typical turnaround on a loan is 45–60 days.

With a high-volume of SBA loans, Truist can put technology to streamline the application process and fast-track government loan guarantees. That saves you time and get you to funding faster.

Short on capital? Don’t let that hold your company back.

See how flexible SBA financing can help your business. Talk to your Truist relationship manager about starting your SBA loan application today.