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$350,000
Min. Amount
$5,000,000
Max. Amount
Product Name | Ready Capital SBA loans |
---|---|
Min. Amount | $350,000 |
Max. Amount | $5,000,000 |
Loan Term | Up to 300 months |
Min. Credit Score | 680 |
Requirements | Must meet SBA requirements, 0% to 20% down payment, 680+ credit score |
Review by
Rhys Subitch is a writer and editor at Finder who tackles topics across the site. With half a decade of experience researching, editing and writing for a Fortune 500 company, university and several independent publications, Rhys brings readers the most up-to-date and curated info on all things finance.
Ready Capital is a nonbank, Small Business Administration (SBA) Preferred Lender that offers both secured and unsecured business loans. It funds startups, business acquisitions, equipment, real estate, working capital and more.
If you need a business loan outside the SBA program, choose a different lender — Ready Capital doesn’t offer any other types of business loans. It also isn’t very forthcoming with information on its website, so you won’t find fees or a list of industries it doesn’t work with. You also can’t apply online, and it only has offices in 10 states.
Want to get a quote online? Check out more lenders before you apply.
Unlike some other types of business loans, it’s up to the SBA to decide if your business qualifies for a 7(a) loan — not Ready Capital. You must meet the SBA’s minimum requirements, including the following:
Ready Capital stands out from other lenders by offering funding to newly established businesses. It's also an SBA Preferred Lender, meaning it can approve your application rather than having to send the entire application to the SBA, which can take weeks. Instead, it simply has to get eligibility approval from the SBA — a turnaround of as little as 24 hours.
Consider all of what Ready Capital has to offer and where it falls short before applying.
For an even faster turnaround, compare more business loan providers.
Ready Capital doesn't support online applications. You can visit a branch in person, or follow these steps to submit a request:
You'll then receive a call from a Ready Capital loan specialist to talk over your options.
Ready Capital doesn't list what documents you'll need to apply. But you can prepare what the SBA requires. Some of what you'll want to gather includes:
Ready Capital doesn't offer any information about how repayments can be made on its website. But you may be able to get a term of up to 25 years.
If it's available, you may want to sign up for automatic repayments. It frees up time in your schedule that you would have to dedicate to making another repayment. But keep an eye on your bank account and reach out to customer service if you notice anything amiss.
Not sure an SBA loan from Ready Capital is right for you? Compare other business loans by reading our guide to business loans.