How do i get a small business loan?

If you’re considering how to get a small business loan in the U.S., you’re in the right place. Many entrepreneurs and small business owners struggle with the process, the forms, and the lender requirements, it can feel overwhelming. At MrFinan, we specialise in helping you navigate every step of the journey, so you can apply with confidence and clarity. This guide will address four key areas: how to get a small business loan with no revenue yet, how to get a small business loan for working capital, common myths about how to get a small business loan, and how long it takes to get a small business loan approved. Understanding these will put you in a strong position to secure funding. You’ll see concrete steps, realistic expectations, and how our service makes it simpler , no paperwork headaches, no hidden surprises. Whether you’re just starting or scaling up, knowing these details helps you move forward with certainty. Let’s dive in.

Small Loan

APPLY

100% Online

FORM

Free

AVAILABILITY

24 Hours

Apply for the loan

More Information

How to get a small business loan with no revenue yet

When you’re learning how to get a small business loan but you haven’t yet generated revenue, the process shifts somewhat. Lenders look more closely at your business plan, your personal credit, your equity contribution, and your projected cash flow , because you don’t have historical income to demonstrate ability to repay. For instance, the Small Business Administration (SBA) guidelines highlight that borrowers must show a "sound business purpose" and ability to repay, even for small-business loans.

In such a case:

• You should prepare a detailed business plan explaining exactly how you’ll generate revenue, your target market, and your marketing and sales strategy.
• You may need to give a larger equity injection (your own funds) since you don’t yet have a track record.
• Your personal credit profile becomes especially important lenders will evaluate how you’ve managed your personal finances and whether you have the discipline to make timely payments.
• You should also consider alternative loan types tailored to startups or businesses with little or no revenue: microloans, lines of credit, or equipment financing may be more accessible.
• Because of the higher perceived risk, expect stricter terms: higher interest rates, shorter repayment terms or requirement of collateral or personal guarantee.

At MrFinan, we help you identify lenders who specialise in early-stage businesses, map out your equity injection, prepare your documentation and guide you so you present the strongest possible case , even before your revenue shows up.

Common myths about how to get a small business loan

There are several myths that often mislead business owners when they ask how to get a small business loan. It’s important to separate myth from fact so you can act wisely and avoid wasted time. Here are some of the common ones:

1. You must have perfect credit to get a small business loan.

Many lenders accept applicants with less-than-perfect credit if other areas are strong.

Solid cash flow, a realistic business plan, or valuable collateral can offset weaker credit.

2. You need many years in business to qualify.

Startups and newer companies can still get funding.

What matters most is demonstrating financial stability and a well-thought-out growth plan.

3. You must go through the federal government to get an SBA loan.

The SBA itself doesn’t lend money directly.

It guarantees loans issued by banks and approved lenders to make borrowing easier.

4. Collateral is always required and must be real estate.

Not all small business loans need physical collateral.

Some lenders offer unsecured options or accept assets like equipment or receivables instead.

5. You can’t get a loan if you have any outstanding debt.

Having existing loans doesn’t automatically disqualify you.

Lenders assess whether your business can comfortably handle all payments based on cash flow.

At MrFinan, we help you bust these myths, set realistic expectations, and focus only on what matters for your profile and goals. That saves time, avoids disappointment, and improves your chances of success.

How to get a small business loan for working capital

Working capital financing is one of the most common uses of a small business loan. Knowing how to get a small business loan for working capital means you’re seeking funds to cover daily operations: payroll, inventory, short-term expenses, maybe ramping up for a season. The SBA’s 7(a) loan program allows for working capital as an eligible use.

Here’s what to consider:

• Clearly specify that the loan will support working capital and define the period: e.g., “increase inventory for 3 months of sales”, or “cover payroll for next quarter while ramping customers”.
• Provide financial statements showing your cash flow cycle: how money comes in, goes out, and when you need the infusion. For established businesses this will include income statements, balance sheets, projections. For newer businesses you’ll need well-reasoned forecasts.
• Demonstrate that the business will generate sufficient cash to service the loan, lenders will check your debt service coverage ratio (DSCR) or similar metric.
• Be aware: while working capital loans are common, they may face shorter repayment terms or higher interest compared to long-term asset purchase loans, because lenders view them as higher risk.

At MrFinan, we guide you through preparing your working capital case: assembling the right docs, structuring the loan purpose clearly, and matching you with lenders that accept this use of funds.

How long does it take to get a small business loan approved?

When trying to figure out how to get a small business loan, timing is a key concern. How long from application to funding? The answer varies heavily depending on the lender, loan amount, the strength of your documentation, and whether the loan is backed by the Small Business Administration (SBA) guarantee or not.

• Under the SBA 7(a) “Small” loan program, the turnaround time may be as short as 2-10 business days when processed under the Preferred Lender Program.
• However, many lenders will take several weeks: collecting documents, underwriting, verifying information, obtaining approvals.
• If you’re a first-time borrower or applying for a larger loan, expect 4-8 weeks or more.
• Delays often happen because of incomplete documentation, unclear business purpose, weak cash flow projections, or waiting for collateral appraisal.
• At MrFinan, we prioritise organising your application so you submit a solid package early, which reduces delays. We’ll map your documentation, point out bottlenecks, and monitor progress so you understand where you are in the timeline every step of the way.

The approval timeline for a small business loan can be significantly shortened when you plan strategically and work with the right intermediary. Preparing accurate financial records, ensuring your credit reports are up to date, and responding quickly to lender requests all help speed things up. Through MrFinan, applicants benefit from pre-assessment tools that match them with lenders known for faster processing, ensuring that qualified businesses can receive funds within days rather than weeks especially when documentation is complete and well-organized from the start.

Get your small business loan online: fast, transparent, and tailored to you

Understanding how to get a small business loan in the U.S. doesn’t have to be confusing. Whether you’re seeking a loan with no revenue yet, aiming for working capital, dispelling myths, or wanting clarity on how long the process takes, each of these elements matters. At MrFinan, we bring over a decade of experience helping entrepreneurs just like you secure the right financing, with minimal paperwork and maximum transparency. Our service is 100% free, fully online, and tailored to your profile. We analyse your unique situation, match you with lenders who fit your needs, and guide you step-by-step, no call centres, no robots, just real advisors. The process is digital, secure, and human-centred. So if you’re ready to move forward, ask yourself: “What’s the next step?” Then let’s take it together.Without paperwork. Without complications. We’ll show you your best option.