{"id":23485,"date":"2023-10-19T13:45:02","date_gmt":"2023-10-19T13:45:02","guid":{"rendered":"https:\/\/swoopfunding.com\/us\/?post_type=sba-loans&#038;p=23485"},"modified":"2024-08-12T14:22:16","modified_gmt":"2024-08-12T14:22:16","slug":"sba-loan-credit-score","status":"publish","type":"sba-loans","link":"https:\/\/swoopfunding.com\/us\/sba-loans\/sba-loan-credit-score\/","title":{"rendered":"SBA loan credit score \u2013 what is required?"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"23485\" class=\"elementor elementor-23485\" data-elementor-post-type=\"sba-loans\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-4c1a6265 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"4c1a6265\" data-element_type=\"section\" data-e-type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t\t<div class=\"elementor-background-overlay\"><\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-3ad5d7e1\" data-id=\"3ad5d7e1\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-5d40a1b2 elementor-widget elementor-widget-heading\" data-id=\"5d40a1b2\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h1 class=\"elementor-heading-title elementor-size-default\">SBA loan credit score \u2013 what is required?<\/h1>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-43dd3101 elementor-widget elementor-widget-text-editor\" data-id=\"43dd3101\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p style=\"text-align: center;\"><span style=\"font-weight: 400;\">Loans administered by the U.S. Small Business Administration (SBA) are popular for small businesses because of their low interest rates and long payback terms.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2867eac2 elementor-align-center elementor-widget elementor-widget-button\" data-id=\"2867eac2\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-md\" href=\"https:\/\/us.swoopfunding.ca\/stage\" target=\"_blank\" rel=\"noopener\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Get a quote<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-5de8d44c elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"5de8d44c\" data-element_type=\"section\" data-e-type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-3ae864e\" data-id=\"3ae864e\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-871bd82 elementor-widget elementor-widget-ucaddon_breadcrumbs\" data-id=\"871bd82\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"ucaddon_breadcrumbs.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\n\n\t\t\t <div id=\"breadcrumbs-container\" class=\"left\">\n <nav aria-label=\"breadcrumbs\" class=\"rank-math-breadcrumb\"><p><\/p><\/nav> <\/div>\n\n\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-65a9930 elementor-widget elementor-widget-text-editor\" data-id=\"65a9930\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">In order to qualify for an SBA loan, the borrower must meet certain qualifications, including a minimum personal credit score.<\/span><\/p><p><span style=\"font-weight: 400;\">Learn more about the minimum recommended credit score for each SBA loan plus tips on improving your score below.\u00a0<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-675e56df elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"675e56df\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-115ab3c2\" data-id=\"115ab3c2\" data-element_type=\"column\" data-e-type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t<div class=\"elementor-element elementor-element-98f7344 e-flex e-con-boxed e-con e-parent\" data-id=\"98f7344\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-686b952 elementor-widget elementor-widget-ucaddon_aivoov_player\" data-id=\"686b952\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"ucaddon_aivoov_player.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\n\n\t\t\t<div class=\"aivoov-player-block\">\n\t<div class=\"read_this\">Read this article to me<\/div>\n\t\t\t<style>\n\t\t\t.plyr__controls .plyr__controls__item:first-child{\n\t\t\t\tbackground:#2e9c8e !important;\n\t\t\t}\n\t\t\t:root{\n\t\t\t--plyr-color-main:#2e9c8e;\n\t\t\t--plyr-audio-controls-background:#f0f2f4;\n\t\t\t--plyr-audio-control-color:#546a7b;\n\t\t\t}\n\t\t\t[data-plyr=\"mute\"]{color:#2e9c8e !important}\n\t\t\t.aivoov-text-color{color:#546a7b}\n\t\t<\/style> \n\t\t<div class=\"audio_player\">\n\t\t<audio class=\"js-player\" controls=\"\">\n\t\t\t<source src=\"https:\/\/monky-voice-over.s3.amazonaws.com\/aivoov\/781640cc-7bc1-4bbf-9492-22dedc19678b\/8d9deeac-7ac3-42fa-b87a-0ab6e55ba411.mp3\" type=\"audio\/mp3\">\n\t\t\t<source src=\"https:\/\/monky-voice-over.s3.amazonaws.com\/aivoov\/781640cc-7bc1-4bbf-9492-22dedc19678b\/8d9deeac-7ac3-42fa-b87a-0ab6e55ba411.mp3\" type=\"audio\/ogg\" \/>\n\t\t<\/audio> \n\t\t\t\t <div class=\"powerd_by aivoov-text-color\"><p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"http:\/\/aivoov.com\/?um_source=plugin_powered_by\" style=\"color: inherit;\">Powered by AiVOOV<\/a><\/p><\/div>\n\t\t \n\t\t<\/div>\n\t\t<\/div>\n\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-88b01d6 elementor-widget elementor-widget-heading\" data-id=\"88b01d6\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Minimum SBA credit score requirements by loan type\n<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-8a27f0f elementor-widget elementor-widget-text-editor\" data-id=\"8a27f0f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">Credit scores are one of the main ways a lender will determine your creditworthiness \u2013 how likely you are to pay back your loan or how risky it is to lend you money. The SBA doesn\u2019t set a required minimum credit score to get an SBA loan, but having a higher score will usually make it easier to get any kind of financing. SBA-approved lenders can set their own credit score minimums for the loans they manage, so it\u2019s important to understand their <a href=\"https:\/\/swoopfunding.com\/us\/sba-loans\/sba-loan-requirements\/\">requirements<\/a> before you apply.<\/span><\/p><p><span style=\"font-weight: 400;\">In general, you can expect a better chance of having your SBA loan approved if your credit score is in the high 600s. However, some SBA loan programs will determine your creditworthiness based on other factors as well.\u00a0<\/span><\/p><h3><strong>7(a) loans<\/strong><\/h3><p><span style=\"font-weight: 400;\">As the most common and popular SBA loan type, the <a href=\"https:\/\/swoopfunding.com\/us\/sba-loans\/sba-7a-loans\/\">SBA 7(a) loan<\/a> program can be used for multiple purposes and borrowers can get up to $5 million, depending on their qualifications. The SBA sets maximum interest rate limits for these loans, which are based on a Prime rate plus a percentage \u2013 8.0 percent for fixed-rate loans and 6.5 percent for variable loans. Repayment terms will vary based on what the borrower intends to use the loan for, but can be anywhere from five to 25 years.<\/span><\/p><p><span style=\"font-weight: 400;\">To get an SBA 7(a) loan, the lender may have their own credit score requirements, but the SBA will determine your eligibility based on the FICO Small Business Scoring Service (SBSS). This system uses a number of different elements, including your personal credit score, business financials and more, to calculate a number between 0 and 300. Your SBSS score can change over time, just like a personal credit score. The SBA requires a SBSS minimum score of 155 in order to qualify for a loan of up to $350,000.\u00a0<\/span><\/p><h3><strong>504\/CDC loans<\/strong><\/h3><p><span style=\"font-weight: 400;\">The <a href=\"https:\/\/swoopfunding.com\/us\/sba-loans\/sba-504-loans\/\">SBA 504\/CDC loan<\/a> program is another popular loan program meant to help small businesses finance major fixed assets such as commercial real estate, property improvements or large equipment purchases. These loans are managed by both an SBA-approved lender and a Certified Development Company (CDC) and the borrower is required to put up at least 10 percent as a down payment. You can get up to $5.5 million for your projects, although the SBA stipulates that it must create jobs or meet other requirements for economic and community building. The CDC\u2019s portion of the funding (40 percent) will have an interest rate based on five- and 10-year Treasury rates, while the third-party lender will negotiate the rate with the borrower.\u00a0<\/span><\/p><p><span style=\"font-weight: 400;\">While the SBA doesn\u2019t state a specific credit rating to qualify for an SBA 504\/CDC loan, you have a better chance of getting the loan if your credit score is 680 or above. Your <a href=\"https:\/\/swoopfunding.com\/us\/business-loans\/cash-flow-loans\/\">cash flow<\/a> will also have a significant impact on whether or not your loan application is approved.\u00a0<\/span><\/p><h3><strong>Microloans<\/strong><\/h3><p><span style=\"font-weight: 400;\">For smaller loans of $50,000 or less, <a href=\"https:\/\/swoopfunding.com\/us\/sba-loans\/sba-microloans\/\">SBA microloans<\/a> are very popular. They can be used for many business purposes, and interest rates usually fall between eight to 13 percent with repayment terms of seven years.\u00a0<\/span><\/p><p><span style=\"font-weight: 400;\">The program is targeted to business owners from historically underserved populations, such as minorities, women and veterans, who may have poor or no credit history and lower incomes. Because of this, the lender may not even consider your credit score when determining your eligibility. They may instead consider your <a href=\"https:\/\/swoopfunding.com\/us\/business-glossary\/collateral\/\">collateral<\/a>, personal guarantees and cash flow as well as your business plan.\u00a0<\/span><\/p><h3><strong>Disaster loans<\/strong><\/h3><p><span style=\"font-weight: 400;\">The SBA created the Economic Injury Disaster Loan (EIDL) program to help small businesses that have suffered significant economic injury in declared disaster areas (think hurricanes, floods, fires or even COVID-19). These loans can be as high as $2 million with interest rates capped at 4 percent, and small business owners can use them for normal business expenses. This includes anything from rent and utilities to payroll and healthcare benefits for employees.\u00a0<\/span><\/p><p><span style=\"font-weight: 400;\">If your business property has suffered physical damage, you can also qualify for an EIDL loan of up to $2 million for property repairs, including inventory, equipment or machinery. These loans have a slightly higher interest rate cap at eight percent but their repayment rates can be as high as 30 years.\u00a0<\/span><\/p><p><span style=\"font-weight: 400;\">Because these loans are meant for businesses that were affected by a disaster, the SBA is pretty generous with them. The minimum credit score to qualify is in the high 500s, which is below average and considered \u201cfair\u201d. It would generally be difficult for a business owner with a fair credit score to get funding from other sources, so these loans can really be a lifeline to small businesses in tough times.\u00a0\u00a0<\/span><\/p><h3><strong>CAPLines<\/strong><\/h3><p><span style=\"font-weight: 400;\">Unlike other SBA programs, the CAPLines program is a line of credit. There are four CAPLines, each with their own purpose: working capital, contract, seasonal and builders. Qualified borrowers can get approved for credit lines as high as $5 million and terms of up to a decade. Interest rates are based on the Prime rate plus 8.0 percent fixed or plus 4.75 percent variable.\u00a0<\/span><\/p><p><span style=\"font-weight: 400;\">The SBA does not dictate a minimum credit score for CAPLines programs, but having a personal credit score of 680 or above can improve your chances.\u00a0<\/span><\/p><h3><strong>Export loans<\/strong><\/h3><p><span style=\"font-weight: 400;\">For small businesses looking to expand their business into export territory, the SBA offers Export Express loans. You can get up to $500,000 with repayment terms of up to seven years for a line of credit or 25 years for a term loan. Interest rates are tied to the Prime rate and can range from an additional 4.5 &#8211; 6.5 percent depending on how much money you borrow.\u00a0<\/span><\/p><p><span style=\"font-weight: 400;\">There\u2019s also the SBA Export Working Capital loan which allows small business owners to borrow up to $5 million for working capital, production or inventory. Interest rates are determined by the lender and can be negotiated by the borrower. If you use the loans as line of credit, you must repay it after a year.\u00a0<\/span><\/p><p><span style=\"font-weight: 400;\">When determining eligibility for SBA Export loan programs, lenders will look at your business credit score as well as your personal statement, which includes your character and experience, as well as your credit history. There\u2019s no minimum credit score to qualify for an SBA Export loan.\u00a0<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t<div class=\"elementor-element elementor-element-a9101f0 e-flex e-con-boxed e-con e-parent\" data-id=\"a9101f0\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-c6c4213 elementor-widget elementor-widget-heading\" data-id=\"c6c4213\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Additional SBA loan requirements\n<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-fcc2033 elementor-widget elementor-widget-text-editor\" data-id=\"fcc2033\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">Beyond your credit score, in order to qualify for an SBA loan, you must meet certain qualifications. These include:<\/span><\/p><ul><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Your business must be physically located in the United States or territories<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Your business must meet the standard definition of \u201csmall business\u201d based on SBA guidelines<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Your business must be for-profit<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Your business must be in an approved legal industry\u00a0<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">You must have invested your own time, money and\/or equity in the business before applying for the loan<\/span><\/li><\/ul><p><span style=\"font-weight: 400;\">Depending on what loan you apply for, you may be required to offer collateral or a down payment as well. Also, because the loans are managed by third-party lenders, they may have their own requirements, such as financial history, minimum time in business and others. It\u2019s important to understand the requirements and documentation before you apply, so check with your lender.\u00a0<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-3f1ea0f e-flex e-con-boxed e-con e-parent\" data-id=\"3f1ea0f\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-723677c elementor-widget elementor-widget-heading\" data-id=\"723677c\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">How to improve your credit score\n<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b6f117f elementor-widget elementor-widget-text-editor\" data-id=\"b6f117f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">If your credit score is impacting your ability to qualify for an SBA loan or other types of business financing, there are ways you can work to improve it.<\/span><\/p><ol><li style=\"font-weight: 400;\" aria-level=\"1\"><b>Build a credit history<\/b><span style=\"font-weight: 400;\">. One of the most important factors in credit score is the length of time it\u2019s existed. There\u2019s no way to speed up time, but you can keep older accounts open as long as possible. Some people make the mistake of closing out accounts like credit cards when they\u2019re paid off, but it\u2019s better to keep them open. If you don\u2019t have accounts that report to credit bureaus, like student loans, home mortgages or car payments, open a credit card and spend a little money on it each month to start building your credit score.<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><b>Pay your bills on time<\/b><span style=\"font-weight: 400;\">. On-time payments are another major factor in your credit score. Make sure you pay the monthly minimum for your credit card bill and other bills on time every month to help increase your credit score. Just one missed monthly payment can take a few points off your score, and lenders will notice that you missed payments when they consider giving you a loan.\u00a0<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><b>Increase your credit limit<\/b><span style=\"font-weight: 400;\">. Another factor in your credit score is how much of your available credit you\u2019re using at any time. The best way to handle this is to pay off your credit cards and decrease your debt, but you may be able to increase your credit limit by opening another credit card or asking a financial institution to increase your limit.\u00a0<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><b>Take out a personal loan<\/b><span style=\"font-weight: 400;\">. If you qualify for a personal loan, you can take out a small one and pay off the monthly minimum each month to help build a payment history and increase your credit score. This can be particularly helpful if you have high-interest credit card debt, as you can use the loan to pay that off and consolidate your debt into a single payment, which may also give your score at least a temporary boost.\u00a0<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><b>Get added to someone else\u2019s credit card account. <\/b><span style=\"font-weight: 400;\">If you can\u2019t qualify for a credit card or other financing that will report to the credit bureaus, you can become an authorized user on a friend or family member\u2019s credit card account to help build your credit. They\u2019ll be responsible for making payments on the account, so you have to make sure you trust them to do that, but it will help build your credit.\u00a0<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><b>Add your rent to your credit score<\/b><span style=\"font-weight: 400;\">. If you pay your rent online and have made at least three rent payments in the past six months, you may be able to add your rental payment history to your credit report through services such as Experian Boost. Your rent has to be high enough to qualify, but this can be another way to add more payment history to your credit score.\u00a0<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><b>Build credit using a secured.<\/b><span style=\"font-weight: 400;\"> If your score is low enough that you can\u2019t qualify for a credit card or loan to build your credit, you can use a secured credit card, which requires you to pay a cash deposit when you open the account. Unlike drawing from a credit line, which is how a credit card works, a secured card draws from the cash you put down. These cards report to credit bureaus and can help you build credit. However, if you don\u2019t pay your bill, they simply take your deposit, so if you have trouble keeping on top of payments, this may not be a good choice for you.<\/span><\/li><\/ol><h3><strong>Other ways to improve your chances of funding<\/strong><\/h3><p><span style=\"font-weight: 400;\">Improving your credit score will make you more attractive to lenders, but there are other ways to help improve your chances of getting funding from an SBA loan or other sources. A few ways you can improve your chances include:<\/span><\/p><ul><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Increase your annual revenue through sales or by cutting expenses.\u00a0<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Stay in business a few years longer so you have a longer history.<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Develop a solid business plan to present to lenders.<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Put more personal equity into your business.<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Organize your finances so you can report them quickly.\u00a0<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Make sure you have all of your documentation in order.\u00a0<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Choose a lender you have a relationship with (whether it\u2019s your personal banking or business banking). <\/span><\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-eacc9c9 elementor-widget elementor-widget-heading\" data-id=\"eacc9c9\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">What documentation was required?<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-fee005c elementor-widget elementor-widget-text-editor\" data-id=\"fee005c\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">Borrowers are required to submit documentation to prove they met the terms for forgiveness. Some of these documents include:<\/span><\/p><ul><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Payroll reports<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Bank account statements showing how much payroll was paid<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Tax forms, including payroll tax filings (Form 941) and state wage reporting and unemployment insurance tax filings<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Payment receipts, cancelled checks or account statements showing contributions to health insurance or retirement plans for employees<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Business mortgage interest payments, such as lender amortization schedule and receipt of payments<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Business rent or lease payments, including current lease agreement and receipts<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Business utility payments\u00a0<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Copies of invoices, orders, <a href=\"https:\/\/swoopfunding.com\/us\/business-loans\/purchase-order-financing\/\">purchase orders<\/a> and receipts for covered operating expenses<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Property damage payments\u00a0<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Receipts or invoices for supplier costs<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Worker protection expenditures<\/span><\/li><\/ul><p><span style=\"font-weight: 400;\">Each of these documents must show that you would have made this money or claimed a deduction in 2019, meaning before the pandemic. For the payroll expenses, a self-employed individual would need to provide their 2019 From 1040 Schedule C and 2019 IRS Form 1099-MISC.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-fc20dca elementor-widget elementor-widget-heading\" data-id=\"fc20dca\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Get started with Swoop's business funding platform<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-670c2c2 elementor-widget elementor-widget-text-editor\" data-id=\"670c2c2\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">Use Swoop to find the best funding for your small business. Simply download our app, answer a few questions and see which options you best qualify for. Plus use our resources to find answers to small business funding questions. Download Swoop today to get started.\u00a0<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-be97ac1 elementor-align-center elementor-widget elementor-widget-button\" data-id=\"be97ac1\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm\" href=\"https:\/\/us.swoopfunding.ca\/stage\" target=\"_blank\" rel=\"noopener\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Get started<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-bddaa04 e-flex e-con-boxed e-con e-parent\" data-id=\"bddaa04\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-89a99f3 elementor-widget elementor-widget-ucaddon_author_page\" data-id=\"89a99f3\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"ucaddon_author_page.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\n\n\t\t\t\n\n\n <div class=\"info-user-post\">\n \n <div class=\"left-info\">\n <a href=\"https:\/\/swoopfunding.com\/us\/author\/kat-cox\/\" aria-label=\"Kat Cox\">\n <picture loading=\"lazy\" decoding=\"async\" class=\"attachment-large size-large\">\n <img loading=\"lazy\" decoding=\"async\" loading=\"lazy\" src=\"https:\/\/swoopfunding.com\/wp-content\/uploads\/2023\/03\/kat-cox-min.jpg\" data-lazy-src=\"https:\/\/swoopfunding.com\/wp-content\/uploads\/2023\/03\/kat-cox-min.jpg?is-pending-load=1\" alt=\"\" class=\"jetpack-lazy-image\" loading=\"lazy\" width=\"92\" height=\"92\">\n <\/picture>\n <\/a>\n <\/div>\n \n <div class=\"right-info\">\n <div class=\"inner-top\">\n <div class=\"info-top\">\n <div class=\"info-title\">\n <p>Written by<\/p>\n <p class=\"name-author\"><a href=\"https:\/\/swoopfunding.com\/us\/author\/kat-cox\/\">Kat Cox<\/a><\/h3>\n <\/div>\n <\/div>\n \n \n <\/div>\n <div class=\"info-bottom\">\n <p>As a B2B finance content specialist, Kat Cox's goal is to distill complicated financial issues into useful information for small business owners, to save them time they could be using to build their companies. Her work has been featured in Forbes and on financial health platform Nav.com. When she's not writing blogs, web copy, or fiction, Kat can be found walking her dog or singing karaoke in Austin, Texas.<\/p>\n <\/div>\n\n <ul class=\"social-links\">\n <li><a href=\"https:\/\/www.linkedin.com\/in\/katherinecox\/\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\"Linkedin\">\n <img loading=\"lazy\" decoding=\"async\" loading=\"lazy\" src=\"https:\/\/swoopfunding.com\/us\/wp-content\/themes\/swoopMW50\/assets\/icons\/icon-linkedin-min.svg\" width=\"30\" height=\"30\" alt=\"Linkedin\">\n <\/a><\/li>\n \n \n <li><a href=\"https:\/\/katcox.com\/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\" aria-label=\"Website\">\n <img loading=\"lazy\" decoding=\"async\" loading=\"lazy\" src=\"https:\/\/swoopfunding.com\/us\/wp-content\/themes\/swoopMW50\/assets\/icons\/icon-site-min.svg\" width=\"30\" height=\"30\" alt=\"Website\">\n <\/a><\/li>\n <\/ul>\n\n <div class=\"swoop-promise\">\n <p><strong>Swoop promise<\/strong><\/p>\n <p>At Swoop we want to make it easy for SMEs to understand the sometimes overwhelming world of business finance and insurance. Our goal is simple \u2013 to distill complex topics, unravel jargon, offer transparent and impartial information, and empower businesses to make smart financial decisions with confidence.<\/p>\n <p>Find out more about Swoop\u2019s editorial principles by reading our <a href=\"https:\/\/swoopfunding.com\/us\/about-swoop\/editorial-policy\/\">editorial policy<\/a>.<\/p>\n <\/div>\n\n <\/div>\n <\/div>\n\n \n\n\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-4d323d7 e-flex e-con-boxed e-con e-parent\" data-id=\"4d323d7\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-c5daa32 elementor-widget elementor-widget-ucaddon_auto_page_related\" data-id=\"c5daa32\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"ucaddon_auto_page_related.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\n\n\t\t\t\n\n\n\n <div class=\"container-auto-page-related\">\n <p class=\"title-related text-center\">Related pages<\/p>\n <div class=\"auto-page-related\">\n <ul>\n <li >\n <a href=\"https:\/\/swoopfunding.com\/us\/sba-loans\/can-you-have-multiple-sba-loans\/\">Can you have multiple SBA loans <\/a>\n <\/li>\n <li >\n <a href=\"https:\/\/swoopfunding.com\/us\/sba-loans\/how-much-is-an-sba-loan-down-payment\/\">How much is an SBA loan down payment? <\/a>\n <\/li>\n <li >\n <a href=\"https:\/\/swoopfunding.com\/us\/sba-loans\/how-to-fill-out-sba-form-1919\/\">How to fill out SBA Form 1919 <\/a>\n <\/li>\n <li >\n <a href=\"https:\/\/swoopfunding.com\/us\/sba-loans\/how-to-fill-out-sba-form-413\/\">How to fill out SBA Form 413 <\/a>\n <\/li>\n <li >\n <a href=\"https:\/\/swoopfunding.com\/us\/sba-loans\/how-to-fill-out-an-sba-loan-forgiveness-application\/\">How to fill out an SBA loan forgiveness application <\/a>\n <\/li>\n <li >\n <a href=\"https:\/\/swoopfunding.com\/us\/sba-loans\/how-to-get-an-sba-loan\/\">How to get an SBA loan <\/a>\n <\/li>\n <li >\n <a href=\"https:\/\/swoopfunding.com\/us\/sba-loans\/ppp-sba-loans\/\">PPP SBA loans <\/a>\n <\/li>\n <li >\n <a href=\"https:\/\/swoopfunding.com\/us\/sba-loans\/sba-504-loans\/\">SBA 504 loans <\/a>\n <\/li>\n <li >\n <a href=\"https:\/\/swoopfunding.com\/us\/sba-loans\/sba-7a-loans\/\">SBA 7(a) loans <\/a>\n <\/li>\n <li >\n <a href=\"https:\/\/swoopfunding.com\/us\/sba-loans\/sba-7a-vs-504-loans\/\">SBA 7(a) vs 504 loans <\/a>\n <\/li>\n <li >\n <a href=\"https:\/\/swoopfunding.com\/us\/sba-loans\/sba-8a-program\/\">SBA 8(a) program <\/a>\n <\/li>\n <li >\n <a href=\"https:\/\/swoopfunding.com\/us\/sba-loans\/\">SBA Loans <\/a>\n <\/li>\n <li >\n <a href=\"https:\/\/swoopfunding.com\/us\/sba-loans\/sba-patriot-express-loans\/\">SBA Patriot Express loans <\/a>\n <\/li>\n <li >\n <a href=\"https:\/\/swoopfunding.com\/us\/sba-loans\/sba-business-acquisition-loans\/\">SBA business acquisition loans <\/a>\n <\/li>\n <li >\n <a href=\"https:\/\/swoopfunding.com\/us\/sba-loans\/sba-community-advantage-loans\/\">SBA community advantage loans <\/a>\n <\/li>\n <li >\n <a href=\"https:\/\/swoopfunding.com\/us\/sba-loans\/sba-loan-equity-injection\/\">SBA equity injection <\/a>\n <\/li>\n <li >\n <a href=\"https:\/\/swoopfunding.com\/us\/sba-loans\/sba-franchise-loans\/\">SBA franchise loans <\/a>\n <\/li>\n <li >\n <a href=\"https:\/\/swoopfunding.com\/us\/sba-loans\/sba-hazard-insurance\/\">SBA hazard insurance <\/a>\n <\/li>\n <li >\n <a href=\"https:\/\/swoopfunding.com\/us\/sba-loans\/sba-line-of-credit\/\">SBA line of credit <\/a>\n <\/li>\n <li >\n <a href=\"https:\/\/swoopfunding.com\/us\/sba-loans\/sba-loan-application-process\/\">SBA loan application process <\/a>\n <\/li>\n <li class=\"hidden_li offscreen\">\n <a href=\"https:\/\/swoopfunding.com\/us\/sba-loans\/sba-loan-approval-rate\/\">SBA loan approval rate <\/a>\n <\/li>\n <li class=\"hidden_li offscreen\">\n <a href=\"https:\/\/swoopfunding.com\/us\/sba-loans\/sba-loan-approval-timeline\/\">SBA loan approval timeline <\/a>\n <\/li>\n <li class=\"hidden_li offscreen\">\n <a href=\"https:\/\/swoopfunding.com\/us\/sba-loans\/sba-loan-credit-score\/\">SBA loan credit score \u2013 what is required? <\/a>\n <\/li>\n <li class=\"hidden_li offscreen\">\n <a href=\"https:\/\/swoopfunding.com\/us\/sba-loans\/sba-loan-forgiveness-for-self-employed-workers\/\">SBA loan forgiveness for self-employed workers <\/a>\n <\/li>\n <li class=\"hidden_li offscreen\">\n <a href=\"https:\/\/swoopfunding.com\/us\/sba-loans\/sba-loan-guarantees-explained\/\">SBA loan guarantees explained <\/a>\n <\/li>\n <li class=\"hidden_li offscreen\">\n <a href=\"https:\/\/swoopfunding.com\/us\/sba-loans\/sba-loan-lenders\/\">SBA loan lenders <\/a>\n <\/li>\n <li class=\"hidden_li offscreen\">\n <a href=\"https:\/\/swoopfunding.com\/us\/sba-loans\/sba-loan-rates\/\">SBA loan rates <\/a>\n <\/li>\n <li class=\"hidden_li offscreen\">\n <a href=\"https:\/\/swoopfunding.com\/us\/sba-loans\/sba-loans-for-veterans\/veterans-rates\/\">SBA loan rates for veterans <\/a>\n <\/li>\n <li class=\"hidden_li offscreen\">\n <a href=\"https:\/\/swoopfunding.com\/us\/sba-loans\/sba-loan-requirements\/\">SBA loan requirements <\/a>\n <\/li>\n <li class=\"hidden_li offscreen\">\n <a href=\"https:\/\/swoopfunding.com\/us\/sba-loans\/sba-loans-for-llcs\/\">SBA loans for LLCs <\/a>\n <\/li>\n <li class=\"hidden_li offscreen\">\n <a href=\"https:\/\/swoopfunding.com\/us\/sba-loans\/sba-loans-for-minorities\/\">SBA loans for minorities <\/a>\n <\/li>\n <li class=\"hidden_li offscreen\">\n <a href=\"https:\/\/swoopfunding.com\/us\/sba-loans\/sba-loans-for-rental-properties\/\">SBA loans for rental properties <\/a>\n <\/li>\n <li class=\"hidden_li offscreen\">\n <a href=\"https:\/\/swoopfunding.com\/us\/sba-loans\/sba-loans-for-self-employed\/\">SBA loans for self-employed <\/a>\n <\/li>\n <li class=\"hidden_li offscreen\">\n <a href=\"https:\/\/swoopfunding.com\/us\/sba-loans\/sba-loans-for-veterans\/\">SBA loans for veterans <\/a>\n <\/li>\n <li class=\"hidden_li offscreen\">\n <a href=\"https:\/\/swoopfunding.com\/us\/sba-loans\/sba-loans-for-women\/\">SBA loans for women <\/a>\n <\/li>\n <li class=\"hidden_li offscreen\">\n <a href=\"https:\/\/swoopfunding.com\/us\/sba-loans\/sba-loans-vs-conventional-loans\/\">SBA loans vs conventional loans <\/a>\n <\/li>\n <li class=\"hidden_li offscreen\">\n <a href=\"https:\/\/swoopfunding.com\/us\/sba-loans\/sba-microloans\/\">SBA microloans <\/a>\n <\/li>\n <li class=\"hidden_li offscreen\">\n <a href=\"https:\/\/swoopfunding.com\/us\/sba-loans\/sba-real-estate-loans\/\">SBA real estate loans <\/a>\n <\/li>\n <li class=\"hidden_li offscreen\">\n <a href=\"https:\/\/swoopfunding.com\/us\/sba-loans\/sba-startup-loans\/\">SBA startup loans <\/a>\n <\/li>\n <li class=\"hidden_li offscreen\">\n <a href=\"https:\/\/swoopfunding.com\/us\/sba-loans\/sba-working-capital-loans\/\">SBA working capital loans <\/a>\n <\/li>\n <li class=\"hidden_li offscreen\">\n <a href=\"https:\/\/swoopfunding.com\/us\/sba-loans\/sba-working-capital-loans\/pilot-program\/\">SBA working capital pilot program <\/a>\n <\/li>\n <li class=\"hidden_li offscreen\">\n <a href=\"https:\/\/swoopfunding.com\/us\/sba-loans\/what-happens-if-you-cant-pay-your-sba-loan\/\">What happens if you can&#8217;t pay your SBA loan? <\/a>\n <\/li>\n <li class=\"hidden_li offscreen\">\n <a href=\"https:\/\/swoopfunding.com\/us\/sba-loans\/what-is-the-average-sba-loan-size\/\">What is the average SBA loan size? <\/a>\n <\/li>\n <li class=\"hidden_li offscreen\">\n <a href=\"https:\/\/swoopfunding.com\/us\/sba-loans\/sba-disaster-loan-denied\/\">Why has my SBA disaster loan been denied? <\/a>\n <\/li>\n <\/ul>\n <div class=\"container_bt\">\n <button class=\"bt_see_more\" href=\"javascript:void(0);\" aria-label=\"See more\">See more<\/button>\n <\/div>\n <div id=\"grey-out\"><\/div>\n <\/div>\n <\/div>\n\n\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-446eac32 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"446eac32\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-747832c4\" data-id=\"747832c4\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-6a50aafd elementor-widget elementor-widget-spacer\" data-id=\"6a50aafd\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-266c5098 elementor-widget elementor-widget-heading\" data-id=\"266c5098\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Testimonials<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-59b8f3dc elementor-widget elementor-widget-ucaddon_testimonials\" data-id=\"59b8f3dc\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"ucaddon_testimonials.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\n\t\t\t<style type=\"text\/css\">\/* widget:Testimonials *\/\n\n.testimony{\n margin:0;\n}\n.testimony .owl-theme .owl-dots .owl-dot.active span{\n background:;\n}\n\n.testimony .owl-theme .owl-dots .owl-dot:hover span{\n background:;\n}\n\n.testimony{\n\t content-visibility:auto;\n\t contain-intrinsic-size:445px;\n}\n .testimony .inner-testimony .read-mores{\n\t margin-left:15px;\n}\n .testimony .inner-testimony .icon{\n\t color:#eee;\n}\n .testimony .inner-testimony .icon-quotation-left{\n\t position:relative;\n\t top:-28px;\n\t left:0;\n}\n .testimony .inner-testimony .icon-quotation-right{\n\t position:relative;\n\t bottom:-28px;\n\t right:-8px;\n}\n .testimony .inner-testimony p{\n\t margin:0;\n\t color:#003e52;\n}\n .testimony .inner-testimony .testimony_description{\n\t padding:40px 0;\n}\n .testimony .inner-testimony .desc_testimony{\n\t font-size:24px;\n}\n .testimony .inner-testimony .author_testimony{\n\t font-size:18px;\n\t margin-top:20px;\n}\n .testimony .inner-testimony .role_testimony{\n\t font-size:18px;\n}\n .testimony .owl-theme .owl-nav .owl-prev{\n\t position:absolute;\n\t left:0;\n\t margin:-18px 0;\n\t top:50%;\n}\n .testimony .owl-theme .owl-nav .owl-next{\n\t position:absolute;\n\t right:0;\n\t margin:-18px 0;\n\t top:50%;\n}\n @media (max-width:992px){\n\t .testimony .inner-testimony{\n\t\t padding:40px 40px;\n\t}\n\t .testimony .inner-testimony .testimony_description{\n\t\t padding:0;\n\t}\n}\n @media (max-width:768px){\n\t .testimony{\n\t\t margin:50px 0 40px 0;\n\t}\n\t .testimony .inner-testimony .desc_testimony{\n\t\t font-size:19px;\n\t}\n\t .testimony .owl-dots{\n\t\t margin-top:30px !important;\n\t}\n\t .testimony .inner-testimony{\n\t\t padding:40px 0;\n\t}\n}\n\n<\/style>\n\n\t\t\t<div class=\"container\">\n <div class=\"testimony\">\n <div class=\"row justify-content-center\">\n <div class=\"col-xl-8 col-lg-10\">\n <div class=\"inner-testimony text-center\">\n <div id=\"owl-testimony\" class=\"owl-carousel owl-theme\">\n <div class=\"item\">\n <div class=\"testimony_description\">\n <p class=\"desc_testimony italic\"><i class=\"icon icon-quotation-left\"><\/i>Swoop was amazing! I was looking for refinancing and they were straight onto finding me the best possible option. I would highly recommend them.<i class=\"icon icon-quotation-right\"><\/i><\/p>\n <p class=\"author_testimony\">Laree Smith<\/p>\n <p class=\"role_testimony\">Owner, F45 Cambridge<\/p>\n <\/div>\n<\/div>\n\n <\/div>\n <\/div>\n <\/div>\n <\/div>\n <\/div>\n<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t<div class=\"elementor-element elementor-element-ac117af e-con-full cta-mobile-fixed elementor-hidden-desktop elementor-hidden-laptop elementor-hidden-tablet e-flex e-con e-parent\" data-id=\"ac117af\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;,&quot;position&quot;:&quot;fixed&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-31ae5e7 elementor-align-justify elementor-widget elementor-widget-button\" data-id=\"31ae5e7\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm\" href=\"https:\/\/us.swoopfunding.ca\/stage\" target=\"_blank\" rel=\"noopener\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">GET STARTED<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t","protected":false},"author":75,"featured_media":0,"parent":0,"template":"elementor_header_footer","sba-loans-sectors":[343],"class_list":["post-23485","sba-loans","type-sba-loans","status-publish","hentry","sba-loans-sectors-sba-guidance"],"acf":[],"featured_image_urls_v2":{"full":"","thumbnail":"","medium":"","medium_large":"","large":"","1536x1536":"","2048x2048":"","image_blog":"","image_blog_full":"","image_podcast":"","image_banking":"","image_blog_internal":"","image_blog_medium":"","image_single_banking":""},"post_excerpt_stackable_v2":"<p>SBA loan credit score \u2013 what is required? Loans administered by the U.S. Small Business Administration (SBA) are popular for small businesses because of their low interest rates and long payback terms. Get a quote In order to qualify for an SBA loan, the borrower must meet certain qualifications, including a minimum personal credit score.Learn more about the minimum recommended credit score for each SBA loan plus tips on improving your score below.\u00a0 Minimum SBA credit score requirements by loan type Credit scores are one of the main ways a lender will determine your creditworthiness \u2013 how likely you are&hellip;<\/p>\n","category_list_v2":"","author_info_v2":{"name":"Kat Cox","url":"https:\/\/swoopfunding.com\/us\/author\/kat-cox\/"},"comments_num_v2":"0 comments","_links":{"self":[{"href":"https:\/\/swoopfunding.com\/us\/wp-json\/wp\/v2\/sba-loans\/23485","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/swoopfunding.com\/us\/wp-json\/wp\/v2\/sba-loans"}],"about":[{"href":"https:\/\/swoopfunding.com\/us\/wp-json\/wp\/v2\/types\/sba-loans"}],"author":[{"embeddable":true,"href":"https:\/\/swoopfunding.com\/us\/wp-json\/wp\/v2\/users\/75"}],"version-history":[{"count":31,"href":"https:\/\/swoopfunding.com\/us\/wp-json\/wp\/v2\/sba-loans\/23485\/revisions"}],"predecessor-version":[{"id":37276,"href":"https:\/\/swoopfunding.com\/us\/wp-json\/wp\/v2\/sba-loans\/23485\/revisions\/37276"}],"wp:attachment":[{"href":"https:\/\/swoopfunding.com\/us\/wp-json\/wp\/v2\/media?parent=23485"}],"wp:term":[{"taxonomy":"sba-loans-sectors","embeddable":true,"href":"https:\/\/swoopfunding.com\/us\/wp-json\/wp\/v2\/sba-loans-sectors?post=23485"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}