Skip to content

All About SBA Loans

August 19, 2022

Woman at Computer

Running a business takes time and dedication. When it comes time to upgrade inventory and equipment, or to purchase property, the last thing you need is a pain-staking loan process or to find out that you don’t qualify for the loan you need.

There are only four requirements to qualify for this type of loan:
  1. Your business is for-profit
  2. Your business is located in the United States
  3. You have invested your own money and time into the business
  4. You cannot get funds from any other financial lender.

That’s where a Small Business Administration (SBA) loan can help.
An SBA loan means less time, less paperwork, less restrictions, and more of what you really need – purchasing power.

SBA loans offer great rates and longer repayment terms which equates to lower monthly payments. There’s no fee to apply and no cost to explore this type of  loan option.

Need working capital for seasonal financing, revolving credit, or refinanced business debt? What about funds for fixed assets, like real estate, remodeling a business, or equipment?

An SBA loan might be just what you’re looking for.

If you’re thinking of starting a business, the SBA has loans for you too.

Perhaps the best part of getting and SBA loan is how quickly you can have access to the cash you need. When you get an SBA loan through Community Choice, the funds can be in your account in as little as 24 hours. 

Are you thinking this option sounds too good to be true, it’s not.
These government-back loans are easier and faster to secure because they reduce the risk to the lender, which means your capital is easier to access.

According to the Small Business Administration website, the SBA 7(a) loan, which is the most common loan program, includes financial help for small businesses with special requirements. This is the best option when real estate is part of a business purchase, but it can also be used for: 

  • Short- and long-term working capital 
  • Refinance current business debt 
  • Purchasing furniture, fixtures, and supplies 

What if an SBA loan isn’t right for your business?
If a small business loan isn’t right for you, we’ll help you figure that out, too. We have business relationship managers located across the state. They understand the market in each of the areas they serve and are available to work one-on-one with you to determine which type of loan works best for you and your business.

Looking to grow in 2022

Let’s talk about lending options! You can call our Business Services Team directly: 877-243-2528 ext. 1043. Or, when you have a minute, email the team at, and we’ll follow-up with you shortly.

We understand that you have many traditional and non-traditional choices when it comes to business loans. Be sure to consider all your options before deciding. If you have any questions, please reach out to your trusted business team at Community Choice at,


Man with cannabis plant
Choice Cash Services and the Cannabis Industry
Many marijuana-related businesses (MRBs) owners are looking for ways to keep growing to meet the demand for their products. That’s where Community Choice comes in.
Learn More

Woman Working
Take your Business to the Next Level with Treasury Management Services
Improve cash flow, mitigate risk, and so much more. Introducing Tru Treasury, Treasury Management services. Let us help you do business on your terms.
Learn More

Employee at Restaurant
Employee Retention Tax Credit
If you’re a business owner who has yet to file your 2021 taxes, we want to make sure you’re aware of an important credit that’s available to you.

Learn More