TurboFunding is a lending broker, not a direct lender. Rates and terms vary based on borrower profile and lender approval. This is not financial advice.
Compare rates, terms, and eligibility across our full suite of financing options.
Government-backed loans with the best rates
Most popular SBA program for long-term financing with competitive rates and flexible terms.
Business Size
Meet SBA standards
Time in Business
2+ years
Credit Score
600+
The SBA 7(a) loan program is the U.S. Small Business Administration's most popular lending program. It provides government-backed guarantees to approved lenders, which allows them to offer small businesses longer repayment terms, lower down payments, and more competitive interest rates than conventional commercial loans. The SBA does not lend money directly — instead, it guarantees a portion of the loan (up to 85% for loans under $150,000, and up to 75% for larger loans), reducing the lender's risk.
SBA 7(a) loans can be used for a wide range of business purposes: purchasing real estate, acquiring another business, buying equipment, refinancing existing debt, or funding long-term working capital needs. Loan amounts go up to $5 million, with repayment terms of up to 10 years for working capital and up to 25 years for real estate. Interest rates are tied to the Prime Rate plus a spread (typically 2.75% to 4.75%), making them among the most affordable business loans available.
SBA 7(a) rates are set as a spread above the Prime Rate (published in the Wall Street Journal). The exact spread depends on the loan amount and term: loans over $50,000 with terms under 7 years typically carry Prime + 2.25% to 2.75%, while longer-term or smaller loans may carry Prime + 2.75% to 4.75%. Your credit score, business history, collateral, and industry also affect lender appetite and whether you qualify for the lowest available spread.
A dental practice applies for a $350,000 SBA 7(a) loan to purchase and renovate a new office space. With a Prime Rate of 7.5% and a spread of 2.75%, the total interest rate is 10.25%. On a 10-year term, monthly payments would be approximately $4,670. The SBA guarantee allows the lender to offer a down payment of just 10% ($35,000) instead of the 20-30% typically required on conventional commercial loans — preserving the practice's working capital.
Complete the TurboFunding application with your business financials, tax returns, and a brief description of how the funds will be used.
Our SBA specialists review your application and match you with SBA-approved lenders whose programs align with your needs, industry, and financial profile.
The lender conducts full underwriting, which includes reviewing your business plan, financial statements, tax returns, and collateral. TurboFunding guides you through every document request.
Upon approval, the SBA authorizes the guarantee and funds are disbursed — typically within 30 to 90 days from application, depending on complexity.
From application to funding, SBA 7(a) loans typically take 30 to 90 days. The timeline depends on how quickly you can provide documentation and the complexity of the loan. TurboFunding helps expedite the process by preparing your package before submitting to lenders.
The SBA defines small businesses by industry using revenue and employee thresholds. Most businesses with annual revenue under $8 million or fewer than 500 employees qualify. Your business must also operate for profit, be based in the U.S., and have exhausted other reasonable financing options.
The SBA requires lenders to collateralize loans to the maximum extent possible, but insufficient collateral alone is not grounds for denial. For loans under $50,000, no collateral is typically required. For larger loans, business assets and sometimes personal assets (like real estate) may be used. A personal guarantee from owners with 20%+ stake is standard.
Our funding experts will match you with the product that fits your unique business needs.
