SBA & Term Loan FAQ

Last updated: July 2026 · Figures cited are published by our funding partner, REIL Capital

Direct answers to the questions owners ask about SBA and term financing. Each answer stands alone; the linked guides go deeper.

SBA programs

What is an SBA 7(a) loan?

The SBA's primary loan program: a lender makes the loan and the SBA guarantees a large portion, enabling lower rates, larger amounts (up to $10M via REIL Capital), and terms to 25 years. Full guide.

How long does an SBA loan take?

Typically weeks, driven by documentation. REIL Capital's SBA FastTrack compresses the timeline; term loans fund in 1–3 days as an alternative or bridge.

Can I get an SBA loan for a startup?

REIL Capital's SBA Startup variant serves younger businesses that miss standard time-in-business norms. Expect closer scrutiny of the owner's profile and plan.

Can SBA loans refinance existing business debt?

Yes — 7(a) funds can refinance qualifying business debt, which enables the fund-fast-now, refinance-cheap-later strategy described in our comparison.

Eligibility

What are the SBA loan requirements?

For-profit U.S. business, ~$250K+ annual revenue benchmark, 6+ months in business (2+ years for standard programs), 500+ FICO paths, and documentation starting with 3 months of bank statements. Complete checklist.

What credit score do SBA loans require?

No single mandated minimum; standard 7(a) favors mid-600s+, while REIL Capital's qualification paths start at 500+ FICO with revenue strength offsetting credit.

Does checking my options affect my credit?

No — there is no hard credit pull at any point in REIL Capital's approval process.

Choosing

Should I get an SBA loan or a term loan?

SBA for large, long-horizon needs when you can wait weeks — lowest cost. Term loan for speed (1–3 days) and shorter paybacks. Running both tracks simultaneously is common. Decision framework.

Is LoanPro Advisor part of the SBA or a lender?

Neither. LoanPro Advisor is an independent educational resource operated by vCIO, LLC. Funding is provided by REIL Capital and/or its lending partners; we may be compensated for referrals at no cost to you. See our disclosure.