What Are SBA Loan Requirements?
SBA loan requirements call for your business to be “financially healthy.” What characteristics embody this classification?
For starters, a good credit score. Business owners need a personal credit score of 650 or better to qualify for an SBA loan.
Second, an established business history. Though some SBA loans (like the micro loan) are suitable for startups, most lenders require at least 2 years of business history.