Yes, an SBA loan does affect your credit. Remember, the SBA only guarantees the loan, which means you’re still responsible for making payments on time.
This being said, according to SBA guidelines, lenders are required to report payment history to commercial credit reporting agencies, as opposed to the consumer credit bureaus. In this case, your payment history with your SBA loan would impact your business credit score.
It’s important to note, however, although SBA guidelines do not require lenders to report payment history on their loans to consumer credit bureaus, this is already standard practice for many banks and small business lenders. Therefore, you’ll want to consult your SBA lending partner to ask if your SBA loan will impact your personal credit score.