Grasshopper Bank SBA Lending

Grasshopper Bank's SBA lending covers two government-backed programs and a non-SBA term loan. The SBA 7(a) loan, which Grasshopper calls the most common SBA product, can fund working capital, acquisitions, partner buyouts, real estate purchases and refinancing. Preapprovals start at $150,000 and online applicants can qualify for up to $5M; Grasshopper does not offer 7(a) loans under $150,000. The SBA 504 loan is long-term, fixed-rate financing for real estate purchases and improvements and large equipment. Grasshopper does not publish SBA rates or fees on the page; it only says SBA loans carry competitive rates and longer repayment terms than traditional financing. The 7(a) application takes as little as 10 minutes, prequalification uses a soft credit pull that does not affect your score, and the bank cites preferred lender (PLP) status as speeding up funding without giving a timeframe. For smaller needs, the Innovator term loan is exclusive to Grasshopper clients: a one-time lump sum of $10,000 to $200,000 on a fixed 36-month term with no prepayment penalties and rates as low as 6.99% APR. The page notes that Grasshopper's eligibility requirements and loan terms may differ from SBA program guidelines, and applying does not guarantee approval. Businesses that need less than $150,000 and are not existing clients will not find a 7(a) fit here.