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However, businesses that meet these requirements can secure a loan relatively easily. Small business loan amounts can reach up to $5 million or more, but the amount a bank will lend you depends on ...
Other small business loan requirements In addition to these eight categories, other documents you may be asked to submit when you apply for a business loan include: Profit and loss statements
Lenders may have specific requirements for minimum credit score, revenue, years in business and more. Here are some of the most common requirements to get a small business loan at a bank. 1 ...
Small Business Administration loans are term loans or lines of credit partially guaranteed by the U.S. government. These loans have requirements and maximum interest rates set by the SBA. They ...
Loan type. Typical amounts. Details. Term loans. $10,000 to $10 million. Term loans can be used for general business purposes, including to finance buying equipment, land, acquiring a business or ...
SBA loan statistics. According to the SBA, at the end of 2023 fiscal year:. $27.5 billion in SBA 7(a) loans was approved. Almost 70 percent of 7(a) loans were for amounts under $350,000
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