Learn More About SBA Lending

Start or Expand your Business with Loans Guaranteed by the

Small Business Administration.

The Small Business Administration works with lenders like Cogent Bank to provide federal financial assistance (grants) community resources for certain small businesses. There are six types of SBA loans available to businesses in the State of Florida, including:

7(a) loans
Community development corporation (CDC)/504 loans
CAPLines
Export loans
Microloans
Disaster loans

As active agent, Cogent Bank works directly with the SBA to make loans available to the small business community. Business who meet the following criteria may qualify for an SBA loan:

Be a ‘for-profit’ business - Officially registered and operates legally.
Do business in the U.S. - Physically located and operates in the U.S. or its territories.
Have invested equity - The business owner has invested their own time or money into the business.
Exhaust Finance options - The business cannot get funds from any other financial lender.

The benefits for small business owners include:

SBA-guaranteed loans generally have rates and fees that are comparable to non-guaranteed loans.
Some loans come with continued support to help you start and run your business.
Lower down payments, flexible overhead requirements, and no collateral needed for some loans.

Frequently Asked Questions

What is the SBA?

The SBA works with lenders to provide loans to small businesses. The agency does not lend money directly to small business owners. Instead, it sets guidelines for loans made by partners list Cogent Bank. The SBA’s support makes it easier for lenders to access capital for small businesses loans.

What are the minimum qualifications for an SBA loan?

Businesses with an excellent business credit score as well as good personal credit are most likely to be successful in acquiring an SBA loan. Other factors also affect eligibility including what a business does to receive its income, the character of its ownership, and where the business operates. Normally, businesses must meet size requirements, be able to repay, and have a sound business purpose. Other factors, such as revenue, cash flow and time in business may also be considered in determining your eligibility.

Is it difficult to qualify for an SBA loan?

Applicants should be aware that the application process for an SBA loan is longer, requires more documentation, and is more involved than with any other loan. Both the business owner and the business itself are carefully evaluated before an SBA loan is granted.

Can I get an SBA loan to start a business?

The SBA's flagship 7(a) loan program also offers financing that borrowers can use to start businesses. But 7(a) SBA loans are tough to get. They typically go to established businesses that can provide collateral — a physical asset, such as real estate or equipment, that the lender can sell if you default.

How do I apply for an SBA loan through Cogent Bank?

Small business owners interested in applying for an SBA loan can begin the process by filling out the contact us form on our website. A representative will respond with more information and the next steps.

Where can I find more information on the PPP Loan Program?

PPP Loan Resources