Small business owners hear a lot of mixed information when it comes to securing funding—and unfortunately, that confusion often holds them back from accessing the capital they need. If you’ve considered SBA 7(a) funding but aren’t sure it’s right for you, you’re not alone.
At True Path Funding, we’re here to clear things up. Let’s break down five of the most common myths about SBA 7(a) funding—and the truth behind them.
1. “It Takes Forever to Get Approved”
Not anymore. Thanks to modern technology and a simplified process, you can apply and get pre-qualified in just minutes with True Path Funding. In fact, many of our customers secure capital 3x faster than the national average.
2. “You Need Perfect Credit”
While credit is one factor, it’s not the only one. Because SBA 7(a) funding is government-backed, there’s a higher likelihood of approval—even if your credit score isn’t perfect. We consider the full picture of your business health, not just one number.
3. “You Can Only Use the Funds for One Purpose”
This one’s a big misconception. SBA 7(a) funding is extremely flexible. You can use the capital for payroll, marketing, rent, debt refinancing, equipment, and more. It’s designed to support what matters most in your business.
4. “I Need to Put Up Major Collateral”
With True Path Funding, that’s not the case. Many SBA 7(a) offers require limited or no collateral at all. That makes this funding option accessible—even for businesses that don’t have major assets to pledge.
5. “It’s Too Complicated to Apply”
We get it—paperwork can be overwhelming. But we’ve simplified the process to just three basic documents. No long forms. No endless steps. Just an easy way to apply and move forward confidently.
Let’s Make Funding Simple
At True Path Funding, we believe in eliminating barriers—not creating them. Our platform was built to give small business owners the capital they need with less stress and more support.
Apply in Minutes
Getting started is as easy as clicking a button. See how much you qualify for with no impact on your credit.
