Frequently Asked Questions
Everything you need to know about our eligibility checker, SBA loans, and small business grants.
How does the eligibility checker work?
Our tool asks you 8 simple questions about your business — like your business type, years in operation, annual revenue, credit score, state, industry, loan purpose, and amount needed. We then compare your answers against the official eligibility criteria of 60+ loan and grant programs to show you which ones you may qualify for.
Is this tool really free?
Yes, completely free. There is no credit card required, no account creation, and no hidden fees. We earn revenue through advertisements on our site, not from your data or information.
Do you collect or share my personal data?
No. Your answers to the eligibility checker are processed entirely in your web browser and are never sent to our servers. We use Google Analytics to understand site traffic (anonymized) and may collect your email only if you voluntarily subscribe to updates.
What are SBA loans?
SBA loans are small business loans partially guaranteed by the U.S. Small Business Administration. Because of the government guarantee, lenders can offer better terms (lower interest rates, longer repayment periods) than conventional bank loans. The SBA does not lend money directly — it works through approved banks and lenders.
What credit score do I need for an SBA loan?
Most SBA loan programs require a minimum credit score of 640–680. However, some programs like the SBA Microloan and Community Advantage Loan accept scores as low as 575–600. Our eligibility checker will show you which programs match your credit score range.
What is the difference between a loan and a grant?
A loan must be repaid with interest over a set period. A grant is free money that does not need to be repaid. Grants are harder to get and often have specific requirements (like being in a certain industry or demographic group), but they provide risk-free capital for your business.
How long does it take to get approved?
Approval times vary widely by program. Microloans and community lenders can approve in 1–3 weeks. Standard SBA 7(a) loans typically take 30–90 days. Federal grants like SBIR can take 6–12 months. Each program listing on our site shows the typical approval timeline.
Can startups qualify for funding?
Yes! Several programs in our database specifically accept startups with less than 1 year of operating history. These include SBA Microloans, Kiva zero-interest loans, CDFI community loans, and various grant programs. Our eligibility checker will find the best options for your stage.
Are the results guaranteed?
No. Our eligibility checker provides an estimate based on publicly available program criteria. Final approval decisions are made by each program's lender or administrator and may consider additional factors beyond what our tool evaluates. Think of our results as a strong starting point for your research.
How often is the program data updated?
We review and update our program database regularly to ensure accuracy. Interest rates, eligibility requirements, and program availability can change. We recommend verifying details directly with the program provider before applying.
Still Have Questions?
The best way to find out what you qualify for is to try our free checker.
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