Small Business Administration (SBA) FAQs
Get the basics on SBA loans.
KeyBank has been an SBA Preferred Lender for 20 years and has helped countless small businesses get funding. Our team of SBA Specialists is dedicated to helping you qualify for your loan. Here are answers to common questions about SBA loans.
- How does an SBA loan work?
After an SBA credit application is approved, KeyBank provides the loan and the SBA guarantees a portion of it. This guarantee is important because it gives banks an incentive to loan money to small businesses that might not qualify for traditional loans. The loan helps the small business fund and expand their company.
- Why get an SBA loan?
SBA loans offer funding for specific small business needs, as well as real estate purchases and operating capital. SBA loans include longer terms, more flexible repayment options, lower down payments and improved cash flow compared to conventional loans.
- What types of SBA Loans are there to consider?
The SBA offers a range of loans to meet diverse business needs. Learn more about KeyBank’s SBA loan options.
- How do I qualify for an SBA loan?
Our SBA Specialists can sit down with you and look at your business’ needs to determine what you qualify for and what would be the best choice for you.
- Why should I apply for an SBA loan through KeyBank?
KeyBank is one of the country’s top lenders to small business and we’ve been consistently recognized for our dedication to SBA programs. KeyBank has held the Preferred Lender designation since 1997. We have lent more than $20 billion to small businesses and were named a Top 10 7(a) Lender in the Nation in 2017.
- How is my interest rate determined?
Loan rates will be based on the specific characteristics of your credit application including, but not limited to, evaluation of credit history and amount of credit requested. Please talk to a local banker for information on the most current rates.