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What are the qualifications to apply for an SBA 7(a) Small Business Loan?

If you're interested in applying for an SBA 7(a) loan, you'll need to first know if your business qualifies.

To qualify for an SBA Working Capital Loan, your business must be:

  1. In operation for at least 1 year as a for-profit business
  2. US-based location and operations
  3. Owner supported / owner funded
  4. Eligible per the SBA’s requirements
  5. Loan size determined by average annual revenue of the business and FICO score

To see if you qualify for an SBA 7(a) loan, submit the prescreen loan application in the NEWITY Portal. It takes less than 15 minutes and does not impact your credit score. 

If your business does not meet these qualifications, we unfortunately cannot approve your application for funding. We hope to expand our offerings in the future to provide lending opportunities that work for your business. 

This information was updated last on: October 10, 2023




NEWITY LLC and its affiliates are not lenders participating in SBA’s 7(a) loan program.  SBA 7(a) loans are ultimately processed and approved by a lender participant in SBA’s 7(a) loan program.