At TowneBank SBA Lending, our SBA loan process follows seven defined steps, with a pre-screen answer in two to three days and a goal of a credit decision within 10 business days once an underwriter has been assigned. Closings typically take 30 to 60 days, although SBA 504 loans follow a different path and undergo additional underwriting with a Certified Development Company (CDC).
What gives our process momentum? SBA lending is all we do, and that specialization makes a big difference in the SBA loan timeline. We know how to get started, what must happen next, who needs to handle it, and how to keep your loan moving forward.
At the most basic level, U.S. citizens who own for-profit, U.S.-incorporated businesses and meet the SBA’s eligibility requirements may apply.
Have questions about SBA financing? Tell us about your project, and a member of our SBA Lending team will help you explore potential financing options and next steps.
Wondering how to get an SBA loan, or looking for the full SBA loan timeline and eligibility details? Find your fit here.
Review the process, timeline, and eligibility information below to better understand what SBA Lending looks for, how long each stage typically takes, and what information you'll want to have ready before beginning the application process.
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SBA Preferred Lender
With in-house approvals, your SBA 7(a) loan and its SBA guarantee do not wait in the SBA's underwriting queue, so decisions come faster, and your closing timeline stays on track.
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Top 50 National SBA Lender
Ranked #34 among U.S. SBA lenders, reflecting a consistent commitment to SBA financing and support for business owners nationwide, from first-time buyers and startups to established, growing companies.
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Real Volume and Real Experience
Since October 1, 2025, TowneBank SBA Lending has approved $192.8 million in SBA loans, reflecting extensive experience supporting business acquisitions, commercial real estate purchases, practice financing, and growth-focused transactions.
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SBA Lending Is Our Entire Business
More than 50 professionals work exclusively on SBA lending, bringing specialized expertise to every transaction, from the first conversation through closing and servicing, and supporting business owners across 48 states.
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TowneBank SBA Lending
Specialized SBA lending expertise backed by the resources of a $22.6 billion relationship bank with more than 70 banking offices across its footprint, giving you local support at every step.
The seven-step process stays the same whether you're buying a business, buying out a partner, purchasing real estate, expanding, building, or adding working capital.
Whether you're buying a business, buying out a partner, purchasing real estate, expanding, building, or adding working capital, our seven-step SBA loan process and our timeline stay the same.
What changes is the documentation needed to support your particular deal. A construction loan is the one exception. Since construction financing involves additional project considerations, it requires an additional review step before closing.
In every case, we'll tell you what we need, who is handling it, and what comes next, so you can focus on your business while we keep the loan moving forward.
The type of project or transaction affects the information required for underwriting, but the goal remains the same: creating a clear path from application to closing while keeping your loan moving efficiently.
Every SBA loan starts with the same conversation and pre-screen. The right financing structure depends on your project, goals, and the assets being financed.
SBA 504 financing provides long-term, fixed-rate financing for major fixed assets, including owner-occupied commercial real estate and equipment.
The SBA 7(a) loan program provides flexible financing for business acquisitions, partner buyouts, working capital, equipment, real estate, and other eligible business needs.
As an SBA preferred lender with PLP status, we know preparation matters. Borrowers who meet basic eligibility requirements and gather their documents promptly are positioned to move through the process fastest.
Real estate transactions must meet the owner-occupied rule, meaning your company must occupy at least 51% of an existing building or 60% of new construction.
If your property is an investment property, a conventional commercial mortgage may be a better fit.
If you think a loan backed by the U.S. Small Business Administration will be a good fit for your business, we can help you get started with a quick pre-screen before the official SBA loan application process begins.
If SBA loan requirements do not fit your business, then a more traditional route to commercial financing may be the best option.
Established businesses and startups alike should make sure the basics fit before investing weeks in gathering documentation. A quick pre-screen can help determine whether SBA financing is the right path before moving into the formal application process
If you've heard that SBA loans are slow, it's worth looking at who is handling yours.
At TowneBank SBA Lending, we have more than 50 professionals working exclusively on SBA lending. Our SBA loan process moves faster than most expect because files never wait behind mortgages or car loans. After all, SBA lending is all we do.
As an SBA Preferred Lender for 7(a) loans, we make approvals in-house rather than having loan requests waiting in the SBA's queue.
Our lending specialists work with a strong sense of urgency throughout the entire process. In terms of timelines, the business owner's biggest variable is document speed; the faster you provide what we need, the faster we can move the process forward.
Meet Our SBA Lending SpecialistsEvery SBA loan follows a defined path from pre-screen through long-term servicing.
From pre-screen through long-term servicing, every loan follows a defined path. The goal is to keep you informed about what happens next, what we'll need from you, and where your loan stands at every stage.
Our pre-screen typically takes two to three days. We review your initial documents and indicate whether your request appears ready to move to a term sheet.
Anyone owning more than 20% of the business provides the last three years of personal tax returns, an SBA Form 413 Personal Financial Statement, a resume, and a bank statement or snapshot showing the source of personal equity. A separate business-document checklist accompanies it.
A pre-screen is not a commitment to lend.
After initial review, we provide a proposal letter, or term sheet, outlining the proposed financing. When business owners sign the term sheet and provide a good-faith deposit, the deal moves to the next stage.
You'll receive an underwriting checklist specific to your loan request. Your loan cannot move to credit until we receive all requested documents.
The faster you provide what we need, the sooner your file can move forward.
Once your file is complete, an underwriter is assigned and begins reviewing everything and asking questions.
Our goal is to provide a credit decision within 10 business days of an underwriter being assigned.
Construction deals require an additional review using construction quotes while formal architecture, engineering, and contract documents are assembled. This review helps determine whether the project remains within our credit appetite; it is not a commitment to lend.
A commitment letter outlines the final terms and conditions. Once signed and returned, the file moves to a dedicated closer.
Your closer coordinates all parties, manages the closing checklist, and helps move the loan toward funding. The time to close typically runs 30 to 60 days.
After closing, a dedicated Portfolio Manager becomes your primary point of contact for the life of the loan. You'll have personalized support from someone who develops a real understanding of you, your business, and your financing.
From pre-screen through long-term servicing, every SBA loan follows a defined process. The comparison below outlines the goal of each step, what happens during that stage, and the information or documentation you'll typically need to provide to keep your loan moving forward.
| Step | Pre-Screen | Proposal Letter (Term Sheet) | Completing Submission | Underwriting | Construction (If Applicable) | Closing | Post-Closing & Servicing |
|---|---|---|---|---|---|---|---|
| Goal/Time | 2-3 days | After initial review | Until file is complete | 10-business-day credit goal* | Additional review | Typically 30-60 days | Life of loan |
| You Provide | Personal & business documents | Signed term sheet & good faith deposit | All requested documents & answers | Responses & additional documents | Quotes & project documents | Closing documents at least 5 business days before closing | Ongoing communication |
| Goal/Time | 2-3 days |
|---|---|
| You Provide | Personal & business documents |
| Goal/Time | After initial review |
|---|---|
| You Provide | Signed term sheet & good faith deposit |
| Goal/Time | Until file is complete |
|---|---|
| You Provide | All requested documents & answers |
| Goal/Time | 10-business-day credit goal* |
|---|---|
| You Provide | Responses & additional documents |
| Goal/Time | Additional review |
|---|---|
| You Provide | Quotes & project documents |
| Goal/Time | Typically 30-60 days |
|---|---|
| You Provide | Closing documents at least 5 business days before closing |
| Goal/Time | Life of loan |
|---|---|
| You Provide | Ongoing communication |
Goal begins once an underwriter is assigned.
So, how long does an SBA loan take? The biggest SBA loan timeline variable is how quickly you provide complete documents.
SBA Loan Timeline: Answers to Common Questions
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Our pre-screen takes two to three days. After an underwriter is assigned, our 7(a) credit decision goal is 10 business days. Closing typically takes 30 to 60 days. Construction and 504 loans may take longer.
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Incomplete or delayed documents from business owners are the biggest variable. The faster you provide complete information and answer the questions, the faster your loan can move.
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Owners of more than 20% should have three years of personal tax returns, an SBA Form 413 Personal Financial Statement, a resume, and proof of their equity source. Business documents are also required.
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The maximum on an SBA 7(a) loan is $5MM, a SBA 504 can get financing up to $12MM. The SBA also allows you to combine these two loan types and receive as much as $17MM in total financing for certain projects.
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Provide the good-faith deposit, and we’ll send a loan-specific underwriting checklist. Your loan progresses to submission once we receive all requested documents.
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After we receive your commitment letter, signed documents, and closing-cost deposit, your dedicated closer will schedule an initial call with you and your advisors.
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Your dedicated Portfolio Manager becomes your primary point of contact for the life of the loan.
Now that you've seen the process, the next step is determining whether your opportunity appears ready to move forward.
Complete the form below and our SBA Lending team will review your initial information through our pre-screen process. Our goal is to provide an initial response within two to three business days and help you understand whether your request appears ready to move forward.
Some applications may require further consideration, and additional information may be required.
Credit terms are subject to approval.
Amount of Credit is subject to SBA program.