Lenita, there are several types of SBA loans. Go to their website. Also, I would recommend you take some of their FREE classes esp about their loans. You can always go to your local SBA office. Alot has changed since a few years ago and the emphasis now is women and veteran in business so its best to go talk to the experts down at the office with your questions. I love their free classes you learn so much in a couple hours and you get to talk to them one in one after or before each class. They are very helpful and explain the processes well and give you great assistance. They have express loans to with different requirements frim the commenter above. Their website has alot of info too. FYI, some requirements are waiverable or can be substituted depending on situation. So its best to talk to the source... the SBA... if you go there in person they can give you paperwirk and their Small Business Guide which has alot of info on resources, classes, affiliates, loans, etc.
It's not common to get a start-up loan from the SBA. You typically need to have at least 20% down. And the business should be up and running and you have customers are generated Revenue the show a track record or at least have a pending contract.
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