SBA FAQs

The SBA partners with banks to increase access to funding for small businesses. SBA loans typically have lower down payments and interest rates, longer terms, and more flexibility than other types of loans.

The 7(a) Loan Program is the SBA’s primary and most popular loan program. 7(a) loans are ideal for many small businesses because of their flexible repayment terms and low interest rates.

The business must be for-profit and considered a small business per the SBA requirements.

A variety of industries are eligible. CCFBank has worked with financial advisors, attorneys, insurance agencies, chiropractors, and more.

Businesses that do not qualify include non-profits, gambling entities, lending institutions, and CBD sellers. To see a full list of ineligible businesses, visit the SBA site here.

You can use your SBA loan proceeds for most legal business purposes. This includes expansions, partner buyouts, acquisitions, startups, collateral shortfall, and more.

You can start your application process here.

SBA loan eligibility requirements include the following:

• Be a for-profit business operating in the U.S.
• Be considered a small business, as defined by the SBA
• Be able to show creditworthiness and ability to repay the loan
• Be an eligible business. See SBA’s excluded categories here