Frequently Asked Questions About SBA Loans

Get the Answers You Need to Make Informed Financing Decisions

FAQ

Frequently Asked Questions

What is an SBA loan?

An SBA loan is a government-backed small business loan offered through approved lenders like banks or private lenders. The U.S. Small Business Administration guarantees a portion of the loan, reducing risk for lenders and helping entrepreneurs secure favorable terms. SBA loans are ideal for buying a business, purchasing commercial property, or expanding operations.

How much money can I borrow?

With BizAqs, you can borrow anywhere from $1 million to $5 million through SBA 7(a) or 504 loans. The exact amount depends on your business’s financials, loan purpose, and ability to repay. We help structure your loan to maximize what you qualify for based on your unique situation.

Do I need experience in the business I’m buying?

No. SBA loans allow for transferable skills, meaning you don’t need direct industry experience if you have relevant leadership, management, or operational background. We specialize in helping first-time buyers who are qualified in other ways.

What if I’ve been declined by a big bank?

Being declined by a traditional bank doesn’t mean you won’t qualify for an SBA loan. We offer flexible SBA loan solutions that take your entire profile into account—including your business plan, background, and potential. BizAqs often funds deals traditional lenders won’t.

What are the interest rates and terms?

SBA loan interest rates typically range from 6% to 10%, with terms of 10 to 25 years depending on the loan type. Rates may be fixed or variable and are based on the Prime Rate plus a lender margin. We’ll explain the structure clearly so there are no surprises.

How long does the SBA loan process take?

Most SBA loans close in 45 to 90 days, depending on how quickly documentation is completed. At BizAqs, we streamline the process with pre-underwriting support and dedicated guidance to keep your deal moving efficiently.

What types of businesses qualify for SBA loans?

Most for-profit small businesses in the U.S. are eligible. This includes retail stores, service businesses, restaurants, healthcare providers, and more. Your business must meet SBA size standards and operate legally in the U.S. We help assess your eligibility quickly.

Can I buy a business with no down payment?

Yes, in many cases. BizAqs specializes in no-money-down SBA loans through seller financing, equity injection alternatives, and flexible structuring. You may qualify even if you don’t have traditional capital.

What if I have a criminal background or bankruptcy?

A past issue doesn’t automatically disqualify you. We offer character-based SBA lending, where your background is reviewed holistically. Depending on your circumstances, we can still help you qualify through transparency and documentation.