Last updated: February 2026
If you’re considering an SBA loan for your business, you might be wondering: do I need an SBA loan broker, or can I go directly to a lender? This is one of the most common questions business owners ask when exploring SBA financing options.
The short answer: For most SBA loans over $350,000, working with an experienced SBA loan broker significantly increases your chances of approval while potentially saving you time, money, and stress. Here’s everything you need to know to make the right decision for your business.
What Is an SBA Loan Broker?
An SBA loan broker is a licensed professional who specializes in connecting business owners with SBA lenders. Unlike loan officers who work for a single bank, brokers have relationships with multiple lenders and can shop your loan to find the best fit for your specific situation.
At GoSBA Loans, we maintain relationships with a network of 50+ SBA lenders – more than any other broker in the industry. Our all-American team has helped fund over $320 million across 126+ loans in 2025 alone.
When You Should Use an SBA Loan Broker
Here are the key scenarios where working with an SBA loan broker makes sense:
1. Loan Amounts Over $350,000
For larger SBA loans, the complexity increases significantly. Different lenders have varying risk appetites, industry preferences, and underwriting criteria. A broker can navigate these nuances to find the right match.
2. Complex Business Situations
- Business acquisitions or change of ownership
- Multi-location businesses
- Franchise purchases
- Real estate-heavy transactions
- Businesses with unique industry challenges
3. Time Constraints
If you need funding quickly or don’t have time to research multiple lenders, a broker can accelerate the process significantly.
4. Previous Credit or Banking Challenges
If you’ve been declined by a bank before or have credit issues, a broker knows which lenders are more flexible and can position your application appropriately.
5. First-Time SBA Borrowers
The SBA loan process can be overwhelming for newcomers. A broker provides guidance and expertise throughout the entire process.
When You Might Not Need a Broker
There are a few situations where going direct to a lender might make sense:
| Direct Lending Makes Sense When: | Broker Is Better When: |
|---|---|
| Loan amount under $250,000 | Loan amount over $350,000 |
| Simple working capital needs | Complex transactions (acquisitions, real estate) |
| Strong existing bank relationship | Need to shop multiple lenders |
| Perfect credit and financials | Credit or industry challenges |
The GoSBA Advantage: Why Brokers Win
Here’s what sets professional SBA loan brokers apart from going direct:
Access to Multiple Lenders
While banks can only offer their own products, GoSBA Loans works with 50+ lenders, from the most conservative to the most aggressive. This means we can find the right fit for virtually any deal.
No Upfront Costs
Unlike many competitors who charge $2,500+ deposits, GoSBA Loans requires $0 upfront. You only pay our success fee at closing when your loan funds.
Full-Service Support
We handle everything from application to closing, including:
- FREE business plan creation ($2,500 value)
- FREE financial projections
- Complete loan package preparation
- Lender negotiations
- Closing coordination
Industry Expertise
Our US-based team understands SBA lending inside and out. We know which lenders prefer which industries, deal sizes, and risk profiles.
Success Rates: Broker vs. Direct
The data clearly shows the advantage of using an experienced broker:
| Metric | Direct Lending | GoSBA Loans |
|---|---|---|
| Approval Rate | ~60-65% | 85%+ |
| Time to Close | 60-90 days | 45-60 days |
| Rate Shopping | Single option | 50+ lenders |
| Upfront Costs | $0 | $0 |
Common Misconceptions About SBA Loan Brokers
“Brokers Cost More Money”
This isn’t true. Broker fees are typically built into the loan amount and paid at closing. Since brokers can often secure better rates and terms, the net cost is often lower than going direct.
“Banks Don’t Like Working with Brokers”
Actually, many banks prefer working with professional brokers because we pre-qualify deals and present complete, organized loan packages. This saves banks time and increases their success rates.
“Brokers Only Push Certain Lenders”
Professional brokers like GoSBA Loans are compensated similarly by all lenders, so we have no incentive to steer you toward any particular bank. We focus on finding the best fit for your needs.
How to Evaluate Whether You Need a Broker
Ask yourself these key questions:
- Loan size: Is your loan over $350,000?
- Complexity: Are you buying a business, franchise, or real estate?
- Experience: Is this your first SBA loan?
- Time: Do you have time to research and apply to multiple lenders?
- Risk factors: Do you have credit issues or unique circumstances?
If you answered “yes” to any of these questions, a broker will likely provide significant value.
What to Expect Working with GoSBA Loans
Here’s our proven process:
- Free Consultation: We analyze your situation and provide honest feedback
- Pre-qualification: We determine your loan capacity and best lender options
- Package Preparation: We create your business plan, financial projections, and loan package
- Lender Submission: We submit to our best-fit lenders from our 50+ network
- Negotiation: We negotiate terms and handle all lender communications
- Closing: We coordinate the closing process from start to finish
The Bottom Line
For most business owners seeking SBA loans over $350,000, an experienced broker provides clear advantages in approval rates, terms, and overall experience. The key is choosing the right broker – one with extensive lender relationships, proven results, and transparent pricing.
At GoSBA Loans, we’ve proven our value with over $320 million in funded deals and a track record that speaks for itself. Our no-upfront-fee model means you risk nothing by exploring your options with us.
Ready to Explore Your SBA Loan Options?
Get a free consultation with our experienced SBA loan specialists. We’ll analyze your situation and provide honest feedback on your loan prospects – with no upfront fees or obligations.
Frequently Asked Questions
How much does an SBA loan broker cost?
Most brokers charge 1-3% of the loan amount as a success fee, paid only at closing. GoSBA Loans requires $0 upfront – you only pay when your loan funds successfully.
Do I save money going directly to a bank?
Not necessarily. Brokers can often negotiate better rates and terms because they have relationships with multiple lenders. The net cost is often lower, plus you save significant time and effort.
How long does it take to get an SBA loan through a broker?
GoSBA Loans typically closes loans in 45-60 days, often faster than going direct because we pre-qualify deals and submit complete packages to the right lenders.
Can a broker help if I’ve been declined before?
Absolutely. We know which lenders are more flexible and can reposition your application to address previous decline reasons. Many clients who were declined elsewhere have succeeded with our help.
What’s the difference between a broker and a loan officer?
A loan officer works for one bank and can only offer that bank’s products. A broker works with multiple lenders and can shop your loan for the best fit. Learn more about this in our detailed comparison of SBA loan brokers vs loan officers.
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