What are the basic eligibility requirements for all applicants for SBA business loans?

13 C.F.R. § 120.100
in effectEffective: 2024-07-01
Sign in to generate a plain English summaryAsk Belisarius Agent
To be eligible for an SBA business loan, a small business applicant must: (a) Be an operating business (except for loans to Eligible Passive Companies); (b) Be organized for profit; (c) Be located in the United States; (d) Be small under the size requirements of part 121 of this chapter (including affiliates). See subpart H of this part for the size standards of part 121 of this chapter which apply only to 504 loans; and (e) Be able to demonstrate a need for the desired credit.

Starting a business? Corpus forms LLCs in all 50 states and DC.