Qualifying for an SBA Loan

Is your business a good fit for a Small Business Administration loan? Different industries carry different size standards. Our SBA Specialists can give you more specific guidance for your unique needs, but here are a few basics on the parameters for qualifying for an SBA loan:

A business must meet certain qualifications for a small business loan consideration from the SBA. The SBA defines a small business as one that is independently owned and operated, is not dominant in its field, a for-profit and meets SBA employment or sales standards.

Size Standard Qualifications:

To be eligible for the 7(a) and 504 loan programs a business cannot have a net worth that exceeds $15 million and an average net income of greater than $5 million over the past two years.

Small Business Characteristic Qualifications:

  • Owners with good character and strong management skills
  • Business net worth consistent with industry averages
  • Ability to repay based on historical cash flow
  • Reasonable collateral

Small Business Loan Application Information:

  • Personal and business tax returns
  • Business financial statements for three past years
  • Current business financial statement
  • Aging of accounts receivable and payable
  • Articles of Incorporation and Bylaws
  • Personal tax return from prior three years
  • Current personal financial statements from all principals

Applying for a Small Business Loan:

Download your KeyBank SBA Loan Kit
(PDF) that contains the information you’ll need for an efficient loan application process.

Contact your KeyBank SBA Specialist
or your KeyBank Relationship Manager.