As we’ve discussed, most SBA loans require a minimum of two years in business for you to qualify. If you’re a startup business, therefore, you might be wondering if it’s possible for you to get an SBA loan.
Ultimately, although not all SBA loan programs are well-suited for startup funding, there are certain programs that have more lenient requirements that are designed to support newer businesses.
For example, both the SBA Microloan and Community Advantage programs offer greater flexibility in terms of time in business and credit history—making them great options for startups.
Similarly, the SBA offers investment and grant programs that, although don’t necessarily provide loans, can serve as a source of financing for startup businesses.
Find more information in our full guide to SBA loans for startups.