As an SBA Preferred Lender, KeyBank is allowed to make certain loans without prior approval from the SBA. We will also receive 48-hour processing from the SBA.
A business must meet certain qualifications for 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, and meets SBA employment or sales standards.
The maximum size standards are:
- Manufacturing — varies by industry, up to 500 employees
- Wholesale — up to 100 employees
- Services — varies by industry from $3 million to $30 million in annual receipts
- Construction — $12 million to $28.5 million in annual receipts
- Retail Trade — $7 million in sales
To qualify for a loan, the SBA also requires companies to meet the following criteria:
- Owners must be of good character with strong management skills
- Business must have a net worth consistent with industry averages
- Company must demonstrate an ability to repay the loan based on historical cash flow
- Collateral must be reasonably adequate to secure the loan
When you apply for an SBA loan, you will need to provide basic information:
- Business tax return from prior three years, if available
- Business financial statements from prior three years, if available
- Current business financial statement (not over 60 days old)
- Aging of accounts receivable and accounts payable (as of the same date or later as the current financial statement)
- Articles of Incorporation and Bylaws1
- Personal tax return from prior three years
- Current personal financial statements from all principals
Our SBA Loan Kits contain all the materials you will need for an easy loan application process. Complete the application form and return it to your local SBA Relationship Manager.
SBA Loan Kit for loans over $100,000 (PDF)
SBA Preferred Lender
All loans subject to credit approval.
1. Included in the application.