Business Term Loan

Loan Size¹: $10,000 - $350,000 | Estimated Interest Rate²: Fixed, as low as 11.99% | Loan Term: 1 - 5 years | Estimated Processing Time³: 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 Size¹: $10,000 - $350,000 | Estimated Interest Rate²: Variable, as low as 8.25% | Loan Term: 10 years | Estimated Processing Time³: 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 Size¹: $350,001 - $5,000,000 | Estimated Interest Rate²: Variable, as low as 7.75% | Loan Term: 10 - 25 years | Estimated Processing Time³: 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

¹The 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.

²Any 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.

³Estimated processing time to close based on loan type selected.

⁴Payment-to-income ratio measures the percentage of gross monthly income used to cover debt obligations.

Business Term Loan

A short-term, fully amortizing fixed-rate loan designed for established businesses that need capital quickly.

Loan Size¹: $10,000 - $350,000
Estimated Interest Rate²: Fixed, as low as 11.99%
Loan Term: 1 - 5 years
Estimated Processing Time³: 3 - 7 business days

Typical Use Cases

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 Size¹: $10,000 - $350,000
Estimated Interest Rate²: Variable, as low as 8.25%
Loan Term: 10 years
Estimated Processing Time³: 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 Size¹: $350,001 - $5,000,000
Estimated Interest Rate²: Variable, as low as 7.75%
Loan Term: 10 - 25 years
Estimated Processing Time³: 35 - 90 business days

Typical Use Cases

Time in Business

Minimum 2 years in business, business acquisitions are acceptable and may have start-up fundamentals, such as projections or new entities

¹The 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.

²Any 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.

³Estimated processing time to close based on loan type selected.

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 Review²

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

¹Additional 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.