SBA Loan Overview

Get great rates, long repayment terms, and low monthly payments with SBA loans.

SBA Loans Overview

IBC | We've Been There So We Can Get You There.

When it comes to small business financing, IBC has been there so we can get you there. We've transformed the traditionally lengthy, complex process of applying for an SBA loan into a more manageable task through our efficient application process and dedicated team. Our skilled lending professionals accompany you at every stage, as you complete our online application and craft your financial narrative. If an SBA loan isn't the ideal solution for you, we're committed to assisting you in finding the right loan for your business from our network of trusted banks and non-bank lenders.

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SBA Loans: The Basics

You may have heard that SBA loans stand out as one of the superior choices in the realm of small business financing. The funds derived from these loans can be utilized in a variety of ways to support a small business, but what really is an SBA loan? We'll explore the costs, qualifications, potential uses of the funds, assisting you in evaluating whether this loan type is the optimal funding solution for your small business.

Documents Required to Apply for an SBA Loan

Personal and Business Tax Returns

Personal Financial Statements

Income Statement

Balance Sheet

Collateral

Other documents

Banks typically require the previous 3 years of business and personal income tax returns

A Personal Financial Statement is required from each individual owning 20% or more of the company

An Income Statement measures a company's financial performance over a specific period of time. This statement includes all revenue and expenses over a given period.

This statement provides an overall financial snapshot of your small business. As an equation, it looks like: Assets=Liabilities+Equity. The two sides of the equation must balance out to equal each other.

Most banks require some type of collateral, depending on the SBA loan size. When you apple for a loan through a bank, a lien on business assets is required. This includes assets such as accounts receivable or inventory, as well as fixed assets such as new equipment purchased with loan proceeds or commercial real estate owned by the business. The value of these assets does not need to equal the loan amount you are requesting.