SBA loans, in plain English

"SBA loan" doesn't mean the government hands you money — it means the SBA guarantees part of a loan a regular lender makes, so the lender can say yes to a smaller or younger business with better terms. There are a few flavors, each for a different job. Knowing which is which saves you weeks.

Do this

1. 7(a) — the everyday SBA loan: working capital, equipment, expansion. The one most owners want.
2. 504 — for big fixed assets: buying real estate or major equipment, through a Certified Development Company.
3. Microloan — smaller amounts through nonprofit lenders; great for startups and thin credit files.
4. Use SBA 'Lender Match' (or Bizer's Capital tool) to find a lender, then prep with the loan-ready checklist.

Which SBA loan is which

The SBA guarantees; a lender lends. Pick by what you need it for:

7(a) The all-purpose one — working capital, equipment, expansion, even buying a business. Longest reach; start here. 504 / CDC Big fixed assets only — commercial real estate or heavy equipment — via a Certified Development Company. MICROLOAN Smaller sums through nonprofit intermediaries; startup- and thin-file-friendly, often with free coaching attached.

Find a lender with SBA "Lender Match" (sba.gov) or Bizer's Capital tool (/capital). Amounts and rates change — confirm current terms with the lender.