Get the funding you need

Each SBA loan program has different eligibility criteria, but your Commercial Loan Officer can help you determine whether you might qualify.

In general, here are some of the things that affect your eligibility:

• Whether you can get funding from another source, such as a conventional or alternative business loan
• Your business experience, professional qualifications, and personal credit
• The amount of money you’re investing in the business, independent of the SBA loan
• How likely it is that you’ll be able to repay the loan from your business earnings and cash flow

That depends on which SBA loan program you apply for, since different programs have different requirements. But in general, you’ll need to provide the following types of information and documentation:

• Information about your professional background and qualifications
• A business plan
• Credit reports for yourself and your business
• Legal documents related to your business, such as articles of incorporation, contracts, leases, and franchise agreements
• Financial and tax documents for yourself and your business

Your Commercial Loan Officer can give you a checklist of everything you need to provide.

The SBA requires that financial institutions use the same collateral requirements on an SBA loan as they would for a conventional business loan that is not backed by the SBA.

SBA backing provides financial institutions with extra security, but it cannot be used as collateral.

No, you don’t have to be a member to apply, but you do need to apply and qualify to become a member to accept the loan. But don’t worry—it’s quick and easy to join Global.