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SmartBiz SBA Loans

in Business Loans

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SmartBiz SBA Loans

Claimed

in Business Loans

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Overview

Where does SmartBiz SBA Loans do business?

SmartBiz SBA Loans is a bank based in San Francisco, CA. It was founded in 2009 and offers access to business loans in 50 states (and Washington, DC).

What are SmartBiz SBA Loans’s rates?

SmartBiz SBA Loans offers business loans with fixed APRs starting from 6.36% to 9.75%.

Does SmartBiz SBA Loans charge an origination fee?

Yes, SmartBiz SBA Loans charges a loan origination fee starting at 2% of the loan amount. SmartBiz SBA Loans deducts the fee directly from your loan amount before disbursing loan proceeds, so make sure you take this fee into account when deciding how much you need to borrow.

What limitations does SmartBiz SBA Loans set on the purpose of the loan?

SmartBiz SBA Loans considers loan applications for business purposes, such as:

  • Business Debt Refinance
  • Equipment Purchase
  • New Location
  • Product or Service Expansion
  • Working capital

What types of business loans does SmartBiz SBA Loans offer?

Not all business loans are made equal. The type of loan you choose will determine the range of rates and terms you receive. SmartBiz SBA Loans provides access to the following business loan types:

  • SBA Loans

Does SmartBiz SBA Loans charge prepayment fees?

No, SmartBiz SBA Loans does not charge prepayment fees. This means you will not have to pay additional fees if you decide to pay the loan off early.

How much can you borrow from SmartBiz SBA Loans?

Loan amounts start at $30,000 and go up to $5,000,000.

What is the maximum loan term you can get with SmartBiz SBA Loans?

SmartBiz SBA Loans offers business loans with a maximum term of 300 months. Having the option of longer terms allows borrowers to take on larger loan amounts while keeping monthly payments more affordable. However, the longer the term of your loan, the more interest you will pay.

What do you need to qualify for a loan with SmartBiz SBA Loans?

Applicants with a credit score of at least 560 can apply for a loan via SmartBiz SBA Loans. SmartBiz SBA Loans requires companies to be in business for at least 24 months. Businesses must have a minimum annual revenue of $50,000.

Only U.S. citizens and permanent residents can apply for a loan. To qualify, applicants may need to provide the following documentation:

  • Proof of Identity
  • Proof of Income

What is the estimated funding time for a business loan via SmartBiz SBA Loans?

SmartBiz SBA Loans can approve (or deny) a loan application within 24 hours and fund business loans within 7 business days of approval.

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Availability

Available in 50 states and Washington, D.C.
  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • California
  • Colorado
  • Connecticut
  • Delaware
  • Washington, DC
  • Florida
  • Georgia
  • Hawaii
  • Idaho
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Maryland
  • Massachusetts
  • Michigan
  • Minnesota
  • Mississippi
  • Missouri
  • Montana
  • Nebraska
  • Nevada
  • New Hampshire
  • New Jersey
  • New Mexico
  • New York
  • North Carolina
  • North Dakota
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Vermont
  • Virginia
  • Washington
  • West Virginia
  • Wisconsin
  • Wyoming

Feature Breakdown

No Prepayment Fee
Origination Fee
Starting at 2%
Credit Score Range
560 -
850 300 560
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Minimum Months in Business
24
Minimum Revenue
$50,000
Verification Documents Required
  • Proof of Identity
  • Proof of Income
Loan Amount
$30 - $5
$25 $1+
Loan Term (Months)
Up to
300
APR
6.36% - 9.75%
0% 100%+

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