How do I get a $300,000 business loan?

$300,000 is mid-range SBA 7(a) and bank financing territory. Most lenders require 700+ personal FICO, 3+ years in business, $600,000+ annual revenue, a 1.25× DSCR, and full business financial documentation. Strong files may qualify for SBA CDC/504 if the funds target fixed assets.

What $300,000 Funds

$300,000 enables major strategic moves: a multi-location expansion, a large equipment purchase (industrial machinery, a commercial vehicle fleet), a full acquisition of a small business, a major real estate improvement, or 18+ months of payroll for a growing team. At this level, underwriting is formal — expect a full commercial loan application process.

What Lenders Look For at $300,000

700+ personal FICO for SBA 7(a) and conventional bank
3+ years in business (2 years is the SBA minimum, but 3+ delivers better pricing)
$600,000+ annual revenue — lenders target 2–3× loan amount in annual sales
DSCR of 1.25× minimum; 1.35×+ for conventional bank approval
2–3 years of business tax returns, year-to-date P&L, and current balance sheet
Collateral: all business assets pledged first; real estate lien likely required
Personal guarantee from all owners with 20%+ equity stake

Which Products Fit $300,000

SBA 7(a) loan (prime + 2.75%–3.75%, 10-year working capital / 25-year real estate)
SBA CDC/504 loan (if acquiring fixed assets — 40% bank / 50% CDC / 10% borrower equity, below-market fixed rate on CDC portion)
Conventional bank term loan (competitive rate for 700+ FICO with 3+ years of banking relationship)
USDA B&I loan (rural businesses; 80% guarantee, up to 30-year term for real estate)
Non-bank term loan (24–48 months, 650+ FICO, funds in 5–15 business days, 30–60% effective APR)

Worked example — $300,000 SBA 7(a) vs. CDC/504

SBA 7(a): $300,000 at prime + 2.75% (≈10.25% APR) over 10 years = $3,987/month, total ≈$478,400. SBA CDC/504 (for equipment): $300,000 split: $120K bank (40%) + $150K CDC (50%, fixed ~6.5% for 20 years = $1,118/month) + $30K equity. Combined monthly on full deal ≈$2,300–$2,600. The 504 is cheaper when buying fixed assets — but requires a 10% equity injection and the asset as collateral. The 7(a) is more flexible for working capital uses.

Sources

SBA CDC/504 program provides long-term, fixed-rate financing for major fixed assets (land, buildings, equipment with 10+ year useful life); the CDC portion carries a below-market rate fixed at debenture pricing. — SBA — 504 Loan Program
SBA 7(a) maximum loan amount is $5 million; for loans above $350,000, lenders must request SBA approval and cannot use delegated authority (PLP/SBA Express). — SBA — 7(a) Loan Program
Federal Reserve SBC Survey 2024: Only 29% of businesses seeking $250K–$500K received full funding from large banks; approval rates were higher at community banks and SBA-approved lenders. — Federal Reserve SBC Survey 2024
FRED tracks the 10-year Treasury rate, which forms the basis for SBA CDC/504 debenture pricing. Historically, the CDC portion prices 80–100 basis points above the 10-year Treasury. — FRED — 10-Year Treasury

Key takeaways

$300,000 requires formal commercial underwriting — 3 years of tax returns, DSCR analysis, and a personal guarantee.
SBA CDC/504 is the lowest-rate path if you're buying real estate or long-life equipment — requires 10% equity injection and a 60–90 day close.
700+ FICO and $600K+ annual revenue are the two hardest gates at this size — address these before applying.
Non-bank term loans exist at this amount but carry effective APRs of 30–60% — best only as a bridge while SBA closes.
Apply at Find my match — one application routes to SBA and bank-aligned options.