Eligible businesses must:
  • Be a for-profit company

  • Located in the United States

  • Be an operating company

  • Demonstrate need for credit

  • Meet an economic development objective

  • Tangible net worth less than $15 million and average after tax net income of less than $5 million. The alternative size standards will remain in effect until SBA publishes permanent alternative size standards through rulemaking, i.e. by published regulation.

  • Owner must occupy 51% if existing building; or 60% if new construction

  • Create or maintain at least one job per $75,000 of SBA financing; $120,000 for manufacturing

Ineligible businesses include:
  • Developers

  • Financial institutions

  • Media

  • Not-for-profit businesses

  • Gambling facilities

  • Apartment buildings

Principals (owners)
  • Owners must be U.S. Citizens or registered aliens with green card.

  • Owners cannot be convicted felons or currently on probation.

  • Anyone who owns 20% or more of the operating company must personally guarantee the loan.