Documentation and eligibility for small business loans depends on the lender and loan programs, which can each have specific requirements. For example, eligibility for Small Business Administration loans like 7(a) tends to depend on certain factors: How a business earns income How business ownership is structured Where the business operates Business size Ability to repay the loan Sound business purpose SBA loan criteria require that businesses must also be for-profit and located within the U.S. or its territories.