Grasshopper SBA 7(a) loans: what they cost and whether you qualify
Grasshopper offers SBA 7(a) loans starting at $150,000, with online prequalification that uses a soft credit pull. Its public page does not state a rate, a credit score minimum or a term. The figures that do exist, Prime plus 2% as the lowest rate, 10 to 25 year terms, a 660 FICO and two years in business, come from partner materials, so confirm them with the bank. Because the rate is expressed over Prime, the calculator shows what your payment does if Prime moves.
SwitchWize has a partnership with Grasshopper Bank through an affiliate network, so we may be compensated if you are funded through links on this page. That does not change what the calculators show or how we describe the terms. This is not a credit decision or an offer of credit.
Who this fits, and who should look elsewhere
It fits when
- You need $150,000 to $5 million for working capital, an acquisition, a partner buyout, real estate or refinancing.
- Your business has operated for two years or more and your personal credit is 660 or higher.
- You are comfortable with a payment that can move with Prime, and with the personal guarantee SBA lenders commonly ask of owners.
Look elsewhere when
- You need less than $150,000: Grasshopper does not offer SBA 7(a) loans under that, and points to its Innovator term loan (for its clients, $10,000 to $200,000) or a partner.
- Your business is under two years old, or your credit is below 660: the criteria in the partner materials would rule you out.
- You need the money in days. SBA loans usually take weeks, sometimes longer.
- You need a fixed payment you can plan around. Ask the bank whether your rate would be fixed or variable.
Would your business qualify?
Six questions, checked against the criteria the lender shared with its partners. A pass is not an approval.
What it would cost
Enter a loan and see the payment, the total interest, and what happens to both if Prime moves. The rate is Prime plus your spread.
Monthly payment
$6,333.79
At 9.00% for 10 years.
- Total interest
- $260,055
- Interest plus upfront fees
- $260,055
If Prime moves
A rate expressed over Prime changes when Prime changes. Here is what that does to your payment.
| Prime | Rate | Monthly | Total interest |
|---|---|---|---|
| -1 point | 8.00% | $6,066.38 | $227,966 |
| Today | 9.00% | $6,333.79 | $260,055 |
| +1 point | 10.00% | $6,607.54 | $292,905 |
| +2 points | 11.00% | $6,887.50 | $326,500 |
How this is calculated
- The rate is held constant for the whole loan. A Prime-based rate floats, so use the table to see what a move in Prime would do.
- Payments are level and rounded to the cent.
- Upfront fees are whatever you enter. SBA guarantee fees vary with loan size and change each fiscal year, so ask the lender for the current figure.
- This is an estimate, not a quote or an offer of credit.
The terms, and where each one came from
Grasshopper's public SBA page and its partner materials do not say the same things. Public rows show the exact quote. Partner rows are not on the bank's page, so confirm them before you rely on them.
| Term | What we know |
|---|---|
| Loan size | Starting at $150,000; borrowers can be qualified up to $5 million On the bank's public page Grasshopper says it does not offer SBA 7(a) loans under $150,000. Source quoteApply online for an SBA 7(a) loan in as little as 10 minutes and get qualified up to $5M. |
| Under $150,000 | Not offered as an SBA 7(a) loan; the bank points to its Innovator term loan or a partner On the bank's public page Source quoteWhile we don't offer SBA 7a loans under $150k, you can explore our Innovator term loan or connect with a trusted partner for your funding needs. |
| Prequalification | Online, with a soft credit pull that does not affect your credit score On the bank's public page Source quoteIn our application process, we conduct a soft pull to pre-qualify you for an SBA 7(a) loan, which does not impact your credit score. |
| Lender status | Delegated SBA lender; the bank also cites its PLP status for speed On the bank's public page Source quoteGrasshopper Bank is a delegated SBA Lender. Eligibility requirements and loan terms listed on this page are specific to Grasshopper Bank’s internal lending criteria and may differ from the general guidelines or program requirements set forth by the U.S. Small Business Administration (SBA). |
| Rate | Described only as "competitive rates"; no rate or spread is stated On the bank's public page Source quoteBacked by the Small Business Administration, SBA loans typically offer lower down payments, competitive rates, and longer repayment terms with more flexible eligibility requirements than traditional financing |
| Lowest rate | As low as Wall Street Journal Prime plus 2% Partner materials, not on the public page |
| Loan terms | 10 to 25 years Partner materials, not on the public page |
| Time in business | At least 2 years Partner materials, not on the public page |
| Personal credit score | At least 660 FICO Partner materials, not on the public page The bank's application only asks you to pick a FICO range. |
| Owners | US citizens or lawful permanent residents; for-profit US business Partner materials, not on the public page |
| Business structure | LLCs, partnerships and corporations Partner materials, not on the public page |
Grasshopper Bank is a delegated SBA Lender. Eligibility requirements and loan terms listed on this page are specific to Grasshopper Bank’s internal lending criteria and may differ from the general guidelines or program requirements set forth by the U.S. Small Business Administration (SBA).
What a funded loan involves
These points describe how SBA loans typically work. Ask Grasshopper how each applies to your loan.
A personal guarantee
SBA lenders commonly require owners of 20% or more to personally guarantee the loan. That puts your own assets behind the debt if the business cannot pay. Ask Grasshopper exactly who must sign.
Collateral
Lenders generally take available business collateral, and sometimes personal collateral too. Ask what Grasshopper would require for your loan size and purpose.
Upfront fees
SBA loans carry an SBA guarantee fee that varies with loan size and changes each fiscal year, and the lender can charge packaging and closing fees. Ask for the current figures in writing and enter them in the calculator.
Time
Grasshopper says you can start online and get qualified in as little as 10 minutes. Prequalification is not approval: underwriting and closing generally take weeks, sometimes longer.
Documents to have ready
Your lender will give you its exact list.
- Business and personal tax returns, commonly for the last three years.
- Year-to-date and annual financial statements for the business.
- A schedule of current business debts.
- A personal financial statement for each owner who must guarantee.
- Ownership and identification documents for the business and its owners.
- The lender's SBA borrower forms and any business plan or use-of-proceeds statement it asks for.
Go to Grasshopper
How these terms have changed
Every figure on this page is tied to a quote. We re-read the bank's page and check that each quote is still there. If one is missing, the page flags it for review instead of quietly showing a stale number.
- 2026-10-08First read
We recorded the terms shown above from the bank's own page. The bank gives no date for its rate.
No re-checks are recorded yet. The first one will appear here.
Questions people ask
Does prequalifying for a Grasshopper SBA loan hurt my credit?
Grasshopper says its application process uses a soft pull to pre-qualify you for an SBA 7(a) loan, which does not impact your credit score. Prequalification is not an approval, and a later underwriting step can involve a hard credit check, so ask the bank when that happens.
What is the minimum SBA loan at Grasshopper?
Grasshopper says it does not offer SBA 7(a) loans under $150,000. For smaller amounts its page points to its Innovator term loan, which it describes as exclusive to its clients, from $10,000 to $200,000, with rates as low as 6.99% APR, or a partner.
What interest rate will I pay?
The bank's public page says only "competitive rates." Grasshopper's partner materials say rates start as low as Wall Street Journal Prime plus 2%. Your rate depends on the bank's pricing for your loan, and a Prime-based rate moves when Prime moves, so use the calculator's table to see the effect of a change.
What credit score do I need?
The bank's public page does not state a minimum, and its application asks you to choose a FICO range. Grasshopper's partner materials list a 660 FICO minimum and two years in business. Confirm these with the bank before you rely on them.
How long are the loan terms?
Grasshopper's partner materials list terms of 10 to 25 years. The public page describes longer repayment terms in general and gives a 25-year term for commercial real estate loans.
Why do the public page and the partner figures differ?
Grasshopper's page says the eligibility requirements and terms it lists are specific to its internal lending criteria and may differ from SBA general guidelines. The partner figures are not on that page at all, which is why we label every figure by where it came from.
Keep reading
How we built this page: public figures are quoted from Grasshopper's own SBA lending page; partner figures are labeled and are not quoted. SBA loans must be repaid with interest and your business and owners can be personally liable. Estimates are not quotes and this is not financial advice.