How to Write a Business Plan for SBA Loan Approval

If you are trying to grow your business and need funding to make it happen, an SBA loan may be one of your best options. These loans offer better terms and higher approval rates than traditional bank loans. However, one thing often stands between you and approval: your business plan.

Many small business owners either skip this step or rush through it. That can be a costly mistake. A solid business plan suggests to lenders that you understand your business, the market, and your financial numbers. It gives them confidence that your business will succeed and repay the loan.

This guide will show you how to write a business plan that supports your loan application and sets your business on the right path.

 

Why Lenders Care About Your Business Plan

The U.S. government backs an SBA loan. However, banks and credit unions still handle the actual lending. That means your plan needs to meet their standards. SBA Lenders want to see a clear strategy with strong reasoning behind every number and decision. They need to understand how your business operates, your growth plans, and how you intend to repay the loan. A good business plan makes their job easier. It helps them say yes.

 

Business Plan Sections That Matter Most

You can follow a simple format. Do not overthink it. Focus on being transparent, direct, and specific.

• Executive Summary: Start with a short overview of your business. State the name, what it does, who it serves, and why you are seeking funding. Specify the amount of money you need and how you intend to use it. Keep this section short. One paragraph is enough.

• Company Overview: Give a little background. When did you start? What is your mission? Where are you located? Who owns the business? If you have reached any major milestones, such as hitting a revenue goal, expanding locations, or winning an award, include those here. This is where lenders gain insight into your journey.

• Market Analysis: Show that you know your industry and its customers. What kind of demand exists for your product or service? How large is your market? Who are your competitors? How are you different? Use local and national data when possible. If you serve a specific community or niche, be sure to mention it. Lenders want to see that you understand your position and potential.

• Products or Services: Describe what you sell in simple terms. Focus on the problem you solve for your customers. Highlight any features that make your product or service stand out. If you offer different tiers, plans, or pricing, explain them briefly. This helps you showcase your revenue potential.

• Marketing and Sales Strategy: Explain how you plan to attract and retain customers. What channels do you use, like social media, ads, referrals, or local events? How much do you spend to acquire a customer? What does your sales process look like? If you have a loyalty program or repeat business strategy, mention it here. This section should prove that you have a well-defined growth plan.

Operations PlanWalk through how your business runs. Who handles what? What systems do you use to manage sales, inventory, or payroll? If you have vendors, partners, or key tools that help things run smoothly, list them. If you are applying for funds to improve operations, tie that into this section.

• Management Team: Lenders want to know who is leading the business. Share a few lines about yourself and any other leaders. Focus on experience that relates to running a business. This could include education, past jobs, or industry knowledge. You do not need lengthy bios, just the highlights.

• Financial Plan and Projections: This part takes some work, but it matters the most. Include your income statement, balance sheet, and cash flow statement for the past one or two years, if available. If you are a new business, use your financial statements and startup projections to inform your decision. Then, add your forecast for the next two to three years. Show expected revenue, expenses, profit, and cash flow. Use real assumptions based on data and trends.

Next, break down how you will use the SBA loan. Be specific. For example, $25,000 for equipment, $10,000 for hiring, and $15,000 for marketing. Then explain how this will lead to growth and repayment. Lenders want to ensure that your numbers are accurate and that your loan request aligns with your financial plan.

 

Common Mistakes That Can Hurt Your Plan

Avoid vague language. Do not say things like “We expect strong growth” without showing how. Do not inflate your numbers to impress. Lenders will see through it. Be realistic.

Avoid copying a template without personalizing it. Lenders read hundreds of plans. Funders can tell when a plan does not match the business.

Also, ensure that the plan aligns with your loan request. If you are requesting $50,000, your plan should clearly outline what that amount will enable you to achieve. Do not leave gaps.

 

Strengthening Your Business Plan

Consider including charts or graphs to illustrate your numbers. Visuals can make financial information clearer and more engaging.

Ask someone you trust to review your plan. Ideally, choose someone with experience in business or finance. A second opinion can help catch mistakes or unclear parts.

Include any documents that support your story. These might be licenses, supplier contracts, customer testimonials, or lease agreements.

Consider using a business planning tool that focuses on SBA loans. FINSYNC’s AI assistant, Fynn, can guide you through the entire business plan process, help with projections, and even make sure you meet lender expectations.

 

Looking Ahead

Writing a business plan doesn’t have to be complicated. Start by outlining the key parts. Fill in what you know. Take your time with the numbers. Be honest, specific, and practical.

Lenders want to say yes. Your business plan helps them feel confident doing so. When you indicate what your business does, why it works, and how the loan aligns with your future goals, you enhance your chances of approval and support your business growth.

The good news? You don’t have to figure it all out alone. With the right tools, planning your business can feel less overwhelming and more manageable. Technology helps you shape your ideas, test what works, and show others you’re serious about turning your plans into reality.

 

 

Fynn Moves Your Business Forward Faster
Meet Fynn, your AI assistant, built to simplify business planning, funding, operations, and growth. With a fully connected Business Platform and Financial Network, Fynn helps you turn ideas into action, secure funding, streamline operations, and accelerate success.
From business planning to seamless execution and smarter financial connections, Fynn keeps everything and everyone in sync—so you can focus on what truly matters, in business and in life.

Unlock SBA Lending Success: Qualify Better Leads and Close More Loans

Every hour you spend chasing incomplete SBA applications slows your team down. Imagine having a way to consistently attract qualified, SBA-ready borrowers with complete documentation and credible financials from the start.

That’s exactly what this upcoming webinar will show you.

Unlock SBA Lending Success: Qualify Better Leads and Close More Loans

  • July 30 at 1 PM EST
  • Designed for: SBA Lenders, Portfolio Managers, Loan Officers, and Business Development Teams

    Register now

Meet Your Presenters

Luke Thomas, Director of Partner & Customer Development at FINSYNC, brings hands-on experience helping SBA lenders streamline their pipeline and improve approval rates across partner institutions.

Catlin Bulger photo

Catlin Bulger, Senior Associate on the Financial Networks team, works directly with entrepreneurs and lenders to ensure SBA loan applications are complete, qualified, and ready to fund.

Carrie Kosac, President of BDC, will share insights into borrower behaviors and how SBA-ready applications look through the lender’s lens.

Together, they will walk through proven strategies to help your team qualify leads more effectively and convert more loans with less administrative burden.

What You’ll Learn

  1. Filter for the Right Leads
    See how FINSYNC qualifies applicants before they ever reach your inbox so you spend less time sorting and more time lending.
  2. Streamline Document Collection
    No more chasing files across emails. FINSYNC helps applicants submit complete packages with the right documentation upfront.
  3. Get Reliable Financial Projections
    Built-in tools guide entrepreneurs to create lender-friendly financials that are easy to review and consistent across the board.
  4. Close Loans Faster
    With complete and organized submissions, you can move quickly from review to approval and boost your origination rate.
  5. Smart Matching by Region and Need
    FINSYNC connects you to businesses that align with your target market, industry preferences, and funding scope.

Why Attend

If your team is handling a high volume of underqualified leads or spending hours on administrative reviews, this session will help you shift to a smarter, more efficient pipeline to save you time.

You’ll walk away with:

  • Practical strategies to improve lead quality
  • Tools to save time and reduce back-and-forth
  • A clearer path to faster closings

Interactive Format and On-Demand Access

This isn’t just a presentation. It’s a live conversation with the FINSYNC financial network team. Bring your questions and get real-time guidance from experts who understand your challenges.

Can’t attend live?
Everyone who registers will receive on-demand access, plus helpful checklists and templates you can use right away.

Reserve Your Spot

Seats are limited. Join us on July 30 at 1 PM EST to discover how you can:

  • Improve SBA lead quality
  • Reduce administrative friction
  • Close more loans with confidence

Save your seat now

How Top SBA Lenders Build Trust and Deliver Results

At a time when small business owners face conflicting advice, outdated information, and an overwhelming number of options, real support still comes down to one thing: education. 

The most effective SBA lenders are not just there to process paperwork; they are also committed to providing personalized support. They guide, teach, and advocate for entrepreneurs who often need more clarity than capital. This shared approach connects Mitchell Jones, Joel Krominga, and Scott Bossom, three standout lenders in the FINSYNC network.

Although they represent different banks, all three prioritize education as their top priority. By doing so, they build trust, close smarter deals, and help businesses grow with greater confidence.

 

SBA lenders who are making a difference in small businesses

 

Making Lending Easier to Understand

Mitchell Jones, an SBA lender with UMWSB, focuses on simplifying the lending experience. Early in his career, he used the phrase “Welcome to easy” with clients, reflecting his belief that lending should not feel overwhelming.

SBA lending can be complex, but Mitchell believes the confusion often comes from poor communication. “Many borrowers misunderstand the process,” he says. “They think a personal paycheck equals affordability when it’s really about business revenue.” He emphasizes education from the start by explaining loan structures, limits, and expectations in plain terms.

Mitchell regularly partners with the SBDC to support business owners, utilizing his background as a buyer, seller, and business owner to connect with clients on a personal level. His approach replaces pressure with partnership.

 

Guiding with Empathy and Perspective

Joel Krominga, also with UMWSB, brings a similar mindset to his work. He describes himself as an empath who tries to see every decision through the eyes of the entrepreneur. Education, to him, is a means to reduce stress and help business owners make informed decisions.

Joel understands that many entrepreneurs are experts in their field but may struggle with financial documentation. “It’s not negligence. Most are just busy running their business,” he explains. 

That is why he and his team take a hands-on approach to guiding borrowers through the process, from organizing documents to clarifying the next steps.

He stresses that not all SBA lenders operate with the same values. “One bad experience can damage someone’s perception of the entire SBA program,” Joel says. “It’s our job to help fix that by being clear, responsive, and honest.”

One of Joel’s proudest moments came during the early days of the pandemic when his team worked around the clock to distribute PPP loans. He recalls it as intense but deeply rewarding. “We saw the impact in real-time. That period reminded me why I do this work.”

 

Counseling Over Selling

Scott Bossom, SBA Program Manager at WaFd Bank, takes a thoughtful, educational approach to lending that centers on bankers building trust. He refers to himself as an “SBA psychologist” because he helps bankers learn how to support clients and sort through the noise to focus on what matters.

“There is a lot of misinformation out there,” Scott says. “Many entrepreneurs feel overwhelmed before they even start.” He believes in training WaFd bankers to help people slow down, clarify their options, and take meaningful action. That clarity builds trust and often helps clients take steps they once thought impossible.

Scott helps WaFd bankers support customers even when they do not qualify for traditional bank SBA financing. Currently, this process involves making calls and referrals across various departments. He looks forward to using tools like FINSYNC’s Funding Navigator to automate this step and connect business owners with the right lending alternatives.

“If a customer walks in and we can’t help directly, I still want them to leave with a solution,” he says. “A system that supports that makes the whole process better for everyone.”

Some of Scott’s most fulfilling experiences have been helping longtime employees purchase the businesses they have worked at for years. Many of these individuals never saw themselves as future owners, especially given the need to come up with sizable down payments. Scott worked closely with them to structure financing creatively and make those deals possible. “Helping people step into ownership and keep those businesses alive — that’s the part I love most,” he says.

 

A Shared Commitment to Better Lending

Despite working in different places and serving different communities, Mitchell, Joel, and Scott share a belief that sets them apart. They prioritize education over sales and view lending as a form of service. 

They take the time to explain the details, guide business owners through uncertainty, and refer them to the right place when needed. This mindset is why FINSYNC chooses to work with lenders like them.

By focusing on education, these lenders are building more than just loan portfolios; they are building trust, strengthening communities, and giving business owners the confidence to move forward. 

 

 

Fynn Moves Your Business Forward Faster 
Meet Fynn, your AI assistant, built to simplify business planning, funding, operations, and growth. With a fully connected Business Platform and Financial Network, Fynn helps you turn ideas into action, secure funding, streamline operations, and accelerate success.
From business planning to seamless execution and smarter financial connections, Fynn keeps everything and everyone in sync—so you can focus on what truly matters, in business and in life. 

What You Need to Qualify for an SBA Loan

Many business owners consider SBA loans when traditional funding options fall short. These loans offer competitive terms and more flexibility, but qualifying is not always straightforward.

You may already be aware that SBA loans exist, but understanding what lenders expect can make all the difference. This guide walks you through what you need to prepare for an SBA loan and how to increase your chances of getting approved.

 

Why SBA Loans Matter

SBA loans are backed by the U.S. Small Business Administration and issued through participating lenders. Lenders offer these loans to help small businesses access capital more easily.

The most common SBA loan is the 7(a) loan. You can use this loan for working capital, equipment, inventory, or property purchases. Because the SBA guarantees part of the loan, lenders are more willing to work with you even if you have limited collateral or a shorter business history.

You still have to meet certain requirements. The terms are typically more flexible, and the interest rates are usually lower than those of other types of business loans.

 

Common Misconceptions

Some business owners assume they will not qualify for funding. Others think they need perfect credit or a long business history. In reality, many of the barriers are easier to overcome than you may think, especially with the right preparation.

For example, a solid business plan and accurate financials can often carry more weight than a high credit score alone. You do not need to give up if one lender says no. Each lender evaluates SBA loan applications differently, and your chances may improve just by applying through another institution or using a loan-matching tool.

 

Male investor talking to women and man owners of a bakery cafe

 

What Lenders Consider

To qualify for an SBA loan, you must demonstrate that your business is stable, responsible, and capable of repaying the loan.

Here are the key areas lenders evaluate:

 

Credit Score and Credit History

Most lenders prefer to see a personal credit score of at least 680. If your score is lower, you may still qualify, but you’ll need to strengthen other parts of your application. Lenders also review your credit history for missed payments, defaults, or bankruptcies, so be ready to explain any issues or recent changes.

 

Time in Business

Generally, lenders like to see at least two years of operating history. However, startups can still apply under certain SBA programs, especially if the owner has industry experience and a strong business plan. If your business is new, consider applying for a smaller loan or working with a lender that specializes in startups.

 

Business Plan and Use of Funds

Lenders want to see a clear, detailed business plan. You need to explain how your business operates, who your customers are, and what the loan will enable you to achieve. Include specific numbers, such as the amount of revenue you expect to generate and when. The more specific you are, the easier it is for a lender to trust that your plan is realistic and feasible.

 

Cash Flow and Debt-to-Income Ratio

Lenders will ask for your current income and expenses to determine whether your business can afford loan payments. They may calculate a debt service coverage ratio or compare your monthly income to debt obligations. Your financial records should reflect that your business generates sufficient revenue to cover its costs and the new loan payment.

 

Collateral

Not every SBA loan requires collateral, but having it can strengthen your application. This could include equipment, property, inventory, or even personal assets. Lenders want to reduce their risk, so any form of security helps.

 

Documents to Prepare

Getting your paperwork in order is one of the easiest ways to expedite the process and improve your chances. 

Here is what you should prepare:

• Personal and business tax returns for the past two to three years

Profit and loss statement

• Balance sheet

• Business debt schedule

• Business license or registration

• Articles of incorporation or formation

• Personal financial statement

• Resumes for you and any key partners

• Loan application history, if applicable

Keep everything organized in one place. Lenders appreciate applicants who come prepared.

 

How to Improve Your Odds

Start by reviewing your credit reports and correcting any errors you find. Paying down outstanding debts can also strengthen your financial profile. 

Make sure your business plan is up to date, including current financial statements and accurate projections. It is helpful to work with a bookkeeper or accountant to ensure your records are accurate and well-organized. 

Your business bank account should reflect steady cash flow, which lenders often look for as a sign of stability. Consider building a relationship with a banker or loan officer who has a thorough understanding of your industry. Applying with confidence begins with knowing where your business stands.

 

Where to Start if You Are Unsure

Many business owners delay applying for funding because they are not sure which loan fits their situation. Some business owners fill out applications and then get stuck waiting for a response or trying to figure out why they were denied.

Technology can help. For example, FINSYNC offers a tool called Funding Navigator. It enables you to assess your funding readiness, connects you with the right lender based on your specific needs, and improves your chances of getting approved.

You do not have to navigate the process alone. Platforms like FINSYNC combine financial tools with personalized support so you can make more informed funding decisions for your business.

 

Key Takeaways

Securing an SBA loan is a realistic goal for many small business owners. You just need the right information, a little preparation, and the ability to present your business clearly and confidently.

Focus on what you can control: your credit, your documentation, and your financial story. Understand what lenders look for, and give them a reason to believe in your success.

With the right tools and support, you can take the next step toward funding that helps your business grow on your terms.

 

 

Fynn Moves Your Business Forward Faster 
Meet Fynn, your AI assistant, built to simplify business planning, funding, operations, and growth. With a fully connected Business Platform and Financial Network, Fynn helps you turn ideas into action, secure funding, streamline operations, and accelerate success.
From business planning to seamless execution and smarter financial connections, Fynn keeps everything and everyone in sync—so you can focus on what truly matters, in business and in life. 

 

Mackenzie Brown Found Her Business Breakthrough with FINSYNC’s CO.STARTERS Program

For many entrepreneurs, the hardest part isn’t deciding to start a business; it involves determining which idea is worth building.

Mackenzie Brown knows this all too well. In a recent interview, she shared how the FINSYNC program, hosted in partnership with the South Coast Development Council (SCDC), helped her shape one of her most meaningful ideas into a business.

Today, she is in the early stages of launching Skipper Feed, a company with a mission to transform low-value seafood byproducts, such as fish skins and bones, into nutritious animal feed and pet treats. It’s a business built on sustainability, community, and a deep respect for the ocean. And it may not have happened without the CO.STARTERS program, supported by SCDC and FINSYNC.

 

Finding Focus in a Sea of Ideas

Mackenzie’s path was not straightforward. Before Skipper Feed, she had tried a few different business concepts, including cooking classes, school garden programs, and local food events. She cared deeply about food systems, but the return on effort was not promising.

“I realized some of my early ideas were more effort than reward,” she said. “FINSYNC helped me sort through what was viable.”

That clarity became a turning point. The program, hosted by SCDC, gave Mackenzie a space to evaluate ideas honestly. It also helped her understand costs, margins, and how to communicate her value proposition in practical terms.

“The program helped me understand how to take an idea and make it real. I used to think I’d need a nonprofit to do something good. But FINSYNC showed me I could build a business model around impact.”

 

A Sustainable Dream

Skipper Feed did not begin as a business plan. It started with Mackenzie’s dog.

“My dog had itchy and dry skin,” she said. “Omega-3s from skins helped a lot. That got me thinking about what happens to the rest of the fish that isn’t sold?”

With a background in environmental studies and a strong interest in the blue economy, Mackenzie was aware that the fishing industry generated a significant amount of waste. In her region, fish heads, bones, and skins are often discarded or sold for pennies. Seeing an opportunity where others saw trash, she began developing a process to turn those byproducts into nutritious treats and food toppers.

“There’s value in what’s being thrown away,” she said. “We just need better systems to capture and use it.”

 

Mackenzie Brown with her dog near the beach

 

FINSYNC as a Compass

Mackenzie credits FINSYNC’s CO.STARTERS curriculum and the community surrounding it for providing her with the structure and confidence to move forward.

“The book is still on my desk,” she said. “It’s one of the clearest tools I’ve used. I refer to it all the time.”

She appreciated how the course made entrepreneurship feel accessible and approachable. For someone who had always considered herself more of an idea person, CO.STARTERS proved that those ideas could become something real with the right planning and support.

 

Barriers and Breakthroughs

Working within the fishing industry hasn’t been easy. The system offers little room for experimentation due to its slim profit margins and complicated politics, which hinder its progress. Mackenzie has built trust with fishermen and navigated slow-moving processes around waste use.

Still, she’s optimistic. She points to groups like Sea Coast Compost, which are using shells in soil products, as signs that things are changing. She is also engaged in broader industry efforts, including the 100% Fish House Bill and the formation of the Oregon Ocean Cluster, initiatives aimed at reducing fish waste and creating new economic opportunities through full utilization of seafood byproducts.

“There’s a growing interest in sustainability and circular systems,” she said. “People are starting to see value in the full catch.”

 

The Power of Partnership

The success of Skipper Feed is not just Mackenzie’s story. It is also a result of what happens when the right partners come together to support local entrepreneurs.

Through the combined efforts of SCDC and FINSYNC’s tools, like the AI Canvas and business plan generator, Mackenzie had access to training, guidance, and practical resources that made a difference.

She’s not alone. Across the country, FINSYNC programs are helping people in rural, Native, and underserved communities turn their ideas into action. And for Mackenzie, that action is just beginning.

“Skipper Feed wouldn’t exist without FINSYNC, the CO.STARTERS program, and the local support I received,” she said. “It gave me the confidence to go from idea to execution and the belief that I can do this.”

 

 

Fynn Moves Your Business Forward Faster 
Meet Fynn, your AI assistant, built to simplify business planning, funding, operations, and growth. With a fully connected Business Platform and Financial Network, Fynn helps you turn ideas into action, secure funding, streamline operations, and accelerate success.
From business planning to seamless execution and smarter financial connections, Fynn keeps everything and everyone in sync—so you can focus on what truly matters, in business and in life. 

How AI is Powering the Future of Business Funding

Running a small business used to mean navigating a maze of loan options, investment terms, and capital sources with little more than guesswork and Google. That chapter is over. Today, AI-driven platforms are transforming how entrepreneurs find funding by filtering out the noise, saving time, and making more effective matches with the right financial partner.

Here’s how technology is changing the game across four major funding fronts and how you can take advantage of it.

SBA-Preferred Lenders

The SBA loan process often moves slowly and feels unclear, making it challenging for small businesses to move forward with confidence. For years, it’s been a paperwork slog with confusing criteria and low success rates. 

Now, AI creates your business plan, compares it directly to your financials, and matches you with SBA-preferred lenders who are ready to fund based on accurate alignment.

That means less time guessing which forms to fill out and more time talking to the right person at the right bank. It connects you with someone who already sees you as a fit.

 

Relationship-Driven Bankers: Matching the Right Person, Not Just the Product

Good banking is about relationships, not transactions. But how do you find the banker who gets your business, your industry, and your goals? AI steps in and rewrites the rules.

Instead of sorting through thousands of bank profiles, platforms like FINSYNC analyze your business data and match you with local bankers whose products and teams align with your needs. 

 

Angel and Early-Stage Investors

Every founder with a big idea has asked, “How do I find an investor?” A better question might be, “How can the right investor find me?” Today’s AI tools not only refine your pitch and sharpen your plan, but they also connect you with investors who share your goals, values, and investment criteria.

Many business owners don’t consider turning to angel investors, but this is often a strong place to start, particularly when those investors are rooted in your community. Angel investors tend to back local founders and invest in businesses that make a lasting difference close to home.

The result is less cold pitching, more warm introductions, and a lot more capital flowing to startups with serious potential.

 

Alternative Capital Providers: When Banks Say No, AI Says Yes

Sometimes, traditional loans just don’t fit. Maybe your revenue is inconsistent. Perhaps you are looking for an immediate cash infusion. That’s where alternative capital providers come in, offering options from revenue-based financing to short-term working capital. The challenge has always been knowing where to look while steering clear of scams or predatory lenders that often show up in this space.

Today, platforms can evaluate your financials in real time and surface trusted, vetted options tailored to your business model, credit profile, and goals. You don’t have to settle. You can choose with confidence, thanks to the newly available technology now available in the market.

 

Where It All Comes Together

Currently, only one company is bringing together all four types of the above funding options in one place, powered by AI matching.

FINSYNC utilizes AI to help you create your business plan, syncs to your bank to retrieve real-time financial data, and provides a clear view of where you stand. Then, it recommends the best type of funding and connects you with the right person to make it happen. That could be an SBA lender, a local banker, an angel investor, or a trusted alternative provider.

And that’s just the funding. You also get payments, payroll, cash flow tools, and performance tracking, all working together in one integrated platform. Real intelligence with zero guesswork.

 

Get Ready to Find the Right Funding

Complete the form below to get matched with the best lenders and investors for your business. All powered by AI and backed by real results.

FINSYNC, WaFd, and IDRS Are Helping Native Entrepreneurs Thrive

Business ownership has long been part of life in tribal communities across the country. However, the systems that support Native entrepreneurs have not always been in place. For over 30 years, Indian Dispute Resolution Services (IDRS) has focused on promoting tribal sovereignty, community development, and self-sufficiency.

What began as a dispute resolution organization has grown into a vital source of entrepreneurship training. Their newest chapter features a promising partnership with FINSYNC and WaFd Bank, enabling Native American entrepreneurs to access the tools, knowledge, and financial services they need to build sustainable businesses.

This story centers on rebuilding trust, aligning economic development with local cultural values, and creating programs tailored to each community’s unique reality. It demonstrates a clear understanding of the challenges faced by tribal communities.

 

From Advocacy to Entrepreneurship

IDRS began by helping tribes navigate complex legal disputes, including negotiations over land and water rights with the federal government. As those needs changed, IDRS shifted its focus to economic development at the individual level.

Camille Koster, who leads IDRS’s entrepreneurship programs, has been a key voice in that evolution. “Helping people gain legal footing was important,” she explained. “But we also saw that real, lasting change comes when people have a path to support themselves and their families.”

That realization led IDRS to entrepreneurship. About 15 years ago, the organization began offering business training programs tailored for Native entrepreneurs and communities. Some tribes were starting to receive government funds and wanted to reinvest in their members. Others sought ways to create opportunities that aligned with traditional values and local resources.

 

Partnerships That Fill the Gaps

To support this vision, IDRS partnered with platforms such as Etsy and Airbnb, enabling participants to sell their goods and services online. Collaborating with GoDaddy enabled the team to offer free website development, making it easier for entrepreneurs to reach a wider audience.

But many of these new businesses lacked access to reliable banking or financial literacy support. That’s where the partnership with FINSYNC and WaFd Bank became essential.

“We saw a real need to help people not just start businesses, but manage them in a sustainable way,” Camille said. “That means knowing how to handle money, use banking tools, and track your business performance.”

The program combines practical financial education with digital tools from FINSYNC, including an AI-powered interface designed to help users manage cash flow, set financial goals, and prepare for growth. It also helps build confidence in banking systems, which have often been met with mistrust in Native communities.

“We can’t just hand someone a tool and expect it to work,” Camille said. “We need to walk with them through the process and show that it’s something that can actually help.”

 

Camille Koster and team with Indian Dispute Resolution Services

 

Training That Fits Real Life

IDRS adopted the FINSYNC Bootcamp program to replace outdated materials with a more flexible, peer-driven approach. The boot camp model teaches practical skills, including identifying a target market, calculating break-even points, and managing costs. These tools help participants make informed decisions about starting, growing, or adjusting their businesses.

Traditional programs often required internet access or used examples that didn’t reflect rural life. One participant realized she was underpricing her handmade goods and quickly adjusted. Another restructured his mobile repair business to reduce travel and increase profits.

“These programs help people take control,” Camille said. “They realize they don’t need to rely on outside jobs or wait for permission to succeed.”

 

Trust Comes First

IDRS only launches a program after building a local partnership, whether with a tribal council member, community center, or another trusted contact. These relationships ensure the training is both practical and respectful.

“There’s a long history of programs coming in and not following through,” Camille said. “We have to earn that trust, and we do that by showing up consistently and listening.”

That respect also guides how IDRS shares participant stories. Some individuals want to share their progress publicly, while others prefer to maintain their privacy. Each story is told with the consent and cultural awareness of the individuals involved.

 

A Strong Start in Fallon

IDRS, FINSYNC, and WaFd launched their first joint program in Fallon, Nevada. Participants received business training, financial tools, and support from WaFd Bank. WaFd’s Fallon branch, led by longtime banker Georgia Harvey, played a central role in the launch. Harvey introduced the program in person and offered one-on-one banking consultations to participants. It helped begin rebuilding trust in financial institutions, a challenge that many Native communities have faced for generations.  WaFd also provided giveaways during the in-person session and graduation gifts for those who completed both sessions.

Fallon was chosen as the starting point because the tribal community is located within the town itself rather than being separated by distance. The location made it easier to build relationships and test a collaborative model. Early results are promising, and the team is already planning the next round.

“We’re not trying to be everything to everyone,” Camille said. “We’re focused on the places where we can make the biggest difference.”

 

Building a Better Path Forward

Camille Koster is helping lead a partnership that goes beyond tools and training. Through her work with IDRS, alongside FINSYNC and WaFd Bank, she’s helping rebuild trust where it has been broken. This will open doors for Native entrepreneurs and support businesses that stay rooted in culture, values, and community priorities.

By combining education, tools, and deep community relationships, this work is helping to reshape what economic development looks like in Indian Country.

 

 

Fynn Moves Your Business Forward Faster 
Meet Fynn, your AI assistant, built to simplify business planning, funding, operations, and growth. With a fully connected Business Platform and Financial Network, Fynn helps you turn ideas into action, secure funding, streamline operations, and accelerate success.
From business planning to seamless execution and smarter financial connections, Fynn keeps everything and everyone in sync—so you can focus on what truly matters, in business and in life. 

How to Get an SBA Loan: A Complete Guide for Small Businesses

If you are like many small business owners, you have probably asked yourself how to access more funding. You may need capital to grow, purchase equipment, hire staff, or simply cover cash flow during a slow season. Traditional bank loans can be difficult to qualify for, especially if your business is still young or your credit history is not perfect. This is where an SBA loan can make a real difference. 

Backed by the U.S. Small Business Administration, SBA loans give your business better odds of approval and more manageable terms. They are explicitly designed to help small businesses succeed. However, the process can feel confusing without a clear plan.

This guide will help you understand what SBA loans are, how to qualify, and what steps to take to improve your chances of getting approved.

 

What Is an SBA Loan?

An SBA loan is a type of funding offered through banks, credit unions, or nonprofit lenders but guaranteed in part by the federal government. This guarantee lowers the risk for lenders, which can help you qualify even if you do not meet the requirements for a conventional loan.
There are three common types of SBA loans:

• SBA 7(a) Loan: This is the most popular option. It works well for general business needs, like working capital, equipment, or refinancing debt.

• SBA 504 Loan: This loan helps you purchase major fixed assets, such as commercial real estate or large equipment.

• SBA Microloan: This loan is ideal for new businesses or those with small-scale funding needs. Local nonprofit lenders often issue these loans, which range from $1,000 to $50,000.

Each type of loan serves a distinct purpose, so it is essential to select the one that aligns with your goals.

 

Why SBA Loans Work Well for Small Businesses

The SBA designed these loans for small business owners. They often offer better terms than traditional loans. You may qualify for lower down payments, longer repayment schedules, and competitive interest rates. Some lenders allow you to use SBA loans to refinance more expensive debt, which can ease pressure on your monthly budget.

The repayment periods are usually longer, which gives your business time to grow without straining your cash flow. Depending on the loan type, terms can extend up to 25 years for real estate loans or 10 years for working capital loans.

SBA loans also give you more flexibility in how you use the money. Whether you are opening a second location, upgrading your technology, or buying inventory, you can usually tailor the loan to your most pressing needs.

 

Common Challenges Business Owners Face

Many business owners are unsure of where to begin. The idea of gathering paperwork, working with a bank, and waiting for a decision can feel overwhelming. This is why new tools like FINSYNC’s AI Assistant, Fynn, are helping to change the process. 

SBA loans indeed take time and preparation, but now you no longer need to guess whether you qualify. Fynn analyzes your profile and provides matches that align with your needs, timeline, and stage of business, removing much of the confusion at the start.

 

young woman wearing apron selling artisan pastries in a bakery

 

Step-by-Step: How to Apply for an SBA Loan

1. Assess Your Readiness

Before applying, take an honest look at your business. Lenders want to see that your company has enough revenue to repay the loan. They also look at your personal and business credit scores, time in operation, and whether your business is in a stable industry.
Two years of business history is ideal, but there are exceptions. Even if your business is relatively new, you may still qualify for a microloan or find a lender that works with startups.

 

2. Choose the Right SBA Loan Program

Match the loan program to your purpose. Use a 504 loan if you are buying a building or equipment. Use a 7(a) loan for general business needs, such as processing payroll, ordering supplies, or funding marketing campaigns. If you are seeking a small amount, consider a microloan.
Choosing the right loan type helps lenders see that you understand your business needs.

 

3. Find an SBA-Approved Lender

You can use FINSYNC’s Funding Navigator to connect with SBA-approved lenders that match your business goals. The platform uses tools like Fynn to review your profile and offer personalized matches based on your needs, stage, and timeline. Instead of wasting time on lenders that may not be fit, you can clearly understand what investors are looking for and how to improve your chances before you submit your application.

You can also check with your local bank or credit union to see if they offer SBA loans. Community banks often have experience working with small businesses and may provide more personalized support throughout the process.

 

4. Prepare Your Application

This step takes the most time, but it is also where strong preparation can set you apart.

You will need:

• A business plan that shows how your business makes money and how the loan will help it grow

• A detailed explanation of how you plan to use the loan

• Profit and loss statements, balance sheets, and cash flow projections

• Tax returns for both the business and its owners (usually two or three years)

• A personal financial statement if you are a sole proprietor or have a major ownership stake

Being clear, organized, and realistic in your projections builds trust with your lender.

 

5. Understand the Underwriting Process

Once you submit your application, the lender will review your financials and make a decision. Because the SBA guarantees the loan, the lender also sends your file to the SBA for approval. This can take several weeks.

During this time, stay in contact with your lender and be prepared to respond promptly to any requests for additional information. Delays often happen when documents are missing or incomplete.

 

6. Get Approved and Accept Terms

If approved, you will receive a loan agreement outlining your interest rate, repayment schedule, and any additional terms. Review the agreement carefully. Some SBA loans require collateral, and specific lenders may charge additional fees. Make sure you understand the full cost.

Once you sign the agreement, the funds are disbursed according to the timeline set by your lender.

 

Tips to Improve Your Chances of Approval

• Work on your credit score ahead of time if needed

• Lower your current debt before applying

• Keep clean and up-to-date financial records

• Be clear about how the loan will help your business

• Meet with your lender early, even before you apply

Building a relationship with a lender makes a difference. FINSYNC’s tools can help you make that connection more strategically by showing you where you stand and which lenders are most likely to fund your business. If a lender understands your profile and sees alignment with their criteria, you increase your odds of approval.

 

Alternative Paths if You Do Not Qualify

If you do not currently qualify for an SBA loan, there are still options available.

You can:

• Apply for a microloan through a nonprofit intermediary

• Reach out to a Community Development Financial Institution (CDFI)

• Explore a business line of credit or a short-term loan

• Research revenue-based financing or peer-to-peer lending

• Connect with a local economic development agency for grant programs or other support

• Access CollectEarly on your open invoices with FINSYNC

Many businesses apply more than once before getting approved. Use the feedback from your lender to strengthen your next application.

 

Bottom Line

An SBA loan can be a smart way to finance your business and establish a solid financial foundation. It takes time, effort, and planning, but it is within reach. Start by understanding where your business stands today. Know your numbers, organize your documents, and select a loan that aligns with your goals.

You no longer have to navigate the process alone. AI tools like FINSYNC’s Fynn can help remove confusion, highlight where you qualify, and connect you with the right funding partner. With the right preparation and support, you can approach the SBA loan process with clarity and give your business a better path forward.

 

 

Fynn Moves Your Business Forward Faster 
Meet Fynn, your AI assistant, built to simplify business planning, funding, operations, and growth. With a fully connected Business Platform and Financial Network, Fynn helps you turn ideas into action, secure funding, streamline operations, and accelerate success.
From business planning to seamless execution and smarter financial connections, Fynn keeps everything and everyone in sync—so you can focus on what truly matters, in business and in life. 

Write a Smarter Business Plan with AI and Attract the Right Funding

If you are seeking funding to start or expand your business, a well-crafted business plan is your first step. It helps you clarify your ideas and gives funders the confidence to invest. Whether applying for a loan, pitching to investors, or going after a grant, your plan is essential. Match the format to your audience. It could be a one-page canvas, a five-page summary, or a detailed 60-page report with a slide deck.

 

Why Capital Is Hard to Get Without a Business Plan

Many business owners struggle to secure funding because their ideas aren’t clearly defined. Funders need more than passion. They want to understand the risks, your strategy, how you’ll utilize the money, and, most importantly, how to repay it on time. Without that clarity, they will move on. A strong plan shows you are prepared and serious.

 

What Investors and Lenders Look for in a Business Plan

A business plan demonstrates to funders that you are prepared. It outlines how your business works, what it needs, and why it is worth the investment. Here are the basics they expect:

 

  • Executive Summary: A one-page overview that includes what your business does, who it serves, how much funding you need, and what it is for.
  • Problem & Solution: What problem do you solve, and how does your approach work? Use real examples or research.
  • Market Opportunity: Who your customers are and how large your market is. Include local data if relevant.
  • Business Model: How you make money, your pricing, and your cost structure.
  • Marketing Plan: How you plan to reach and retain customers.
  • Team: Who is running the business, and what experience do they bring to the table?
  • Financials: Projections for the next 12–36 months, including expenses and revenue.
  • Funding Request: How much funding do you need, and how will you utilize it to drive growth?

 

Want help building a business plan that checks all the right boxes? You’re not alone. Let us know if this is something you’re interested in.

 

What Makes a Business Plan Stand Out

Some business plans take it a step further by sharing personal insights and demonstrating traction. Funders are often interested in your story. Explain why you started this business and what drives you to succeed. If you have already made sales or generated customer interest, include that information.

If your business serves a local community, explain how it benefits that area. Some lenders and grant programs prioritize economic development and community impact.

 

Two men working on Laptop

Two men working on Laptop

Matching the Plan to the Right Type of Capital

Different types of capital have different expectations. Your plan should reflect that.

  • Bank loans: Provide detailed financials and a repayment plan.
  • Angel investors: Show growth potential and a clear exit strategy.
  • Grants or Microloans: Highlight your community impact.
  • Crowdfunding: Share a strong story that motivates support.

 

Tools and Templates That Can Help

You do not need to start from scratch. FINSYNC’s Funding Navigator (see how it works) is a powerful resource that helps you build a clear, lender-ready business plan while also connecting you with funding opportunities that fit your business. It guides you step by step, making it easier to organize your information and strengthen your case for capital.

If you are still shaping your idea, FINSYNC’s Canvas and Business Plan creator help you refine it before building a full plan. You can also explore templates from the SBA or SCORE.

 

banks that FINSYNC matches to businesses

 

Your Business Plan Is More Than a Document

A strong business plan gives you direction and helps you avoid costly mistakes. More importantly, it shows that your business is ready for funding. A clear, thoughtful plan improves your chances of securing the capital you need.

 

You can revise your plan as things change. Successful entrepreneurs review and update their business plans every 6 to 12 months to reflect, adjust, and stay on track. Always match the plan to your next audience, even if that audience is just you.

How Entrepreneurs Navigate Business Loan Options with AI

In 2025, the Small Business Administration plans to provide over $55 billion in loan funding across all its programs. That may sound promising, but for many entrepreneurs, the path still feels like a maze. Between SBA loans, banks, and investor platforms, there’s no clear starting point. You fill out forms, wait, and end up more confused.

 

Why It’s So Hard to Get Approved for Funding

You may have already noticed this: there are too many choices but insufficient guidance. Bank loan? Angel Investing? Each option comes with its own rules, requirements, and timelines. And no one’s telling you which path fits your business.

Most platforms hand you a menu and say, “Pick one.” But what you really need is someone to help you understand which door to walk through and when. This is the point where most entrepreneurs get stuck. You are not failing. The system is failing you.

Use a Platform that Tells You Exactly How to Qualify for a Business Loan

Traditional capital tools expect you to know what you need. But most business owners are still figuring that out. You do not need a list of lenders. You need someone to tell you what you qualify for, what you need to fix, and what to do next.

Instead, you apply too early, get no response, and lose momentum. That’s how great businesses stall.

Meet Funding Navigator: Get Matched, Raise Capital, and Grow

Funding Navigator (see how it works) flips the script. You don’t start with forms or guesswork. You start with one smart profile. After answering a few simple questions about your business, Fynn, your AI Assistant, provides clear direction on which funding paths honestly fit your goals and stage. It is like having a financial coach in your corner from day one.

Whether you are thinking about an SBA loan, a bank line of credit, or raising investment capital, the system does not just show you what is possible. It shows you where you stand right now and how to move forward.

 

banks that FINSYNC matches to businesses

 

Think Like an Investor

You already work hard to run your business. You should not have to become a financial expert just to get funded. AI tools like Fynn take care of that for you. It reviews your profile, highlights your strengths and gaps, and provides you with steps to improve your funding readiness.

You get insights like:

  • Are you eligible for SBA funding?
  • What type of financial projections will be helpful?
  • What metrics will build confidence with an investor?

Fynn shows you what funders care about, so you can apply with confidence.

Why This Works

Most entrepreneurs drop off because they hit a wall. The process becomes confusing, and there is no one to guide it. Funding Navigator meets you where you are.

  • One Profile, All Options: You fill out one profile. That’s it. From there, Fynn navigates the path for you.
  • Built-In Expertise: You do not need to know the difference between a 7(a) loan and a revenue-based loan. Fynn does.
  • Real-Time Recommendations: If you’re not ready, Fynn shows how to get there.
  • Better Matches: You won’t get dumped into a list of 500 bankers and investors. You will see which ones fit your business.

 

Backed by a Trusted Financial Network

Funding Navigator is powered by a Financial Network built to support real business growth.  This network brings together SBA lenders, local banks, and community partners who are actively invested in helping businesses like yours move forward.

As you complete your profile, Fynn gets to work quietly in the background, sorting through the noise to surface funding options that align with your business goals. Fynn doesn’t just list options. It highlights the ones that fit your goals and move you forward.

When you’re ready, you step into the right opportunity backed by insights, not guesswork.

The Flywheel Effect:Plan Better, Operate Smarter, and Unlock More Funding.

FINSYNC goes beyond matching you with a lender or investor, it helps you build momentum.

We call it the Flywheel Effect: as you plan, operate, and track performance using FINSYNC, Fynn highlights your progress and fundability in real time.

As your plan improves, more opportunities surface, automatically:

  • More qualified matches over time
  • Access to more capital as you grow
  • A self-reinforcing cycle of success

The more you refine your plan and improve performance, the more funding opportunities open up, automatically.

Clarity Creates Momentum

You didn’t start your business to chase paperwork or second-guess every funding decision. You started it to build something meaningful.

Funding Navigator helps you confidently move forward by making funding decisions clearer, connections easier, and support more aligned to your goals.

Start your profile today and let Fynn turn uncertainty into progress.

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Before you get started

1

We are not able to service these businesses at the moment:

  • Crypto Currency and Money Services
  • Privately Owned ATMs
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2

At this time we are offering online business checking accounts through bank partners in these states:

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  • California
  • Idaho
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  • New Mexico
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  • Texas
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