Section 120.100 - What are the basic eligibility requirements for all applicants for SBA business loans?To be eligible for an SBA business loan, a small business applicant must:
(a) Be an operating business (except for loans to Eligible Passive Companies);(b) Be organized for profit;(c) Be located in the United States;(d) Be small under the size requirements of part 121 of this chapter (including affiliates). See subpart H of this part for the size standards of part 121 of this chapter which apply only to 504 loans; and(e) Be able to demonstrate a need for the desired credit.