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Loan Amount for Payment Estimates:$500,000
$50K—$5M
Comparing:
SBA 7(a)
Working Capital
Equipment Loan
Criteria
SBA 7(a)
SBA
Working Capital
Short-Term
Equipment Loan
Asset
Est. Monthly Payment
At typical rate, max term
$3,942/mo
$24,125/mo
$7,743/mo
Rate Range
Annual interest
6.5% – 10.5%
8% – 24%
5.5% – 12%
Typical Rate
Market average
8.3%
14.5%
7.8%
Loan Amount
Min – Max
$50K – $5.0M
$10K – $500K
$25K – $2.0M
Term Range
Repayment period
5–25 years
6–24 months
2–7 years
Funding Speed
Typical timeline
Standard
30–90 days
Fast
1–5 days
Fast
3–10 days
Min. Credit Score
Typical requirement
650+
580+
620+
Time in Business
Minimum required
2+ years
6+ months
1+ year
Revenue Requirement
Minimum
$100K+/yr
$10K+/mo
$50K+/yr
Collateral
Security required
Required for loans over $25K
Often unsecured
Equipment itself (self-collateralizing)
Best For
Ideal use cases
- Established businesses
- Long-term growth
- Real estate purchase
- Seasonal cash flow gaps
- Payroll & inventory
- Short-term needs
- Machinery & vehicles
- Technology upgrades
- Manufacturing equipment
Pros
Key advantages
- Lowest rates available
- Longest terms (up to 25 yrs)
- SBA guarantee reduces lender risk
- Up to $5M
- Very fast funding
- Minimal documentation
- No collateral often
- Flexible use of funds
- Equipment is collateral
- Competitive rates
- Tax deductible (Section 179)
- Fast approval
Cons
Key drawbacks
- Slow approval (30–90 days)
- Extensive documentation
- Collateral often required
- Must meet SBA eligibility
- Higher rates (8–24%)
- Short terms (6–24 mo)
- Daily/weekly repayment
- Lower loan amounts
- Equipment-specific use only
- Depreciation risk
- Down payment sometimes required
- Shorter terms
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