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What credit score do I need for an SBA loan?

For an SBA loan, the required credit score can vary depending on the specific loan program and the lender’s criteria. Here’s a basic idea and summary:

General Credit Requirements:

While the SBA doesn’t set specific credit score requirements, having good credit and strong financials is typically necessary to qualify for an SBA loan. This implies that your credit history should demonstrate your ability to responsibly manage and repay debt​​.

SBA 7(a) & Express Loans:

This is one of the SBA’s most popular loan programs, offering a flexible amount of cash for various uses like managing daily operations, purchasing new products, or refinancing. For SBA 7(a) loans, you typically need a credit score of 650 or higher.

Lender Discretion:

Each lender may set its own requirements for SBA loans. Generally, you might need a credit score in the range of 620-640 or higher. However, this is a ballpark figure, and the exact requirement can differ from one lender to another.

Learn more about how to apply for an SBA loan.

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