Update: BayFirst announced they would be discontinuing the Bolt loan program on August 4, 2025. Read on for alternatives to the program.

You can’t always anticipate your business needs. So, when a new opportunity arises, and you need funding fast, it’s good to know all of your available options. One popular option was until recently the SBA Bolt loan. It offered flexible business financing in a more streamlined way than what you may expect from SBA funding. These loans were built for speed and could be your fast-track option for small business financing when minutes really matter.

What is an SBA Bolt loan?

The SBA Bolt was a type of SBA 7(a) loan that limited borrowers to no more than $150,000 but had fewer business loan requirements to meet when applying. It had a faster approval process, too, so was ideal for those in a crunch to get funding for a time-sensitive need.

The Bolt loan was an offering issued by CreditBench, the small-business lending division of BayFirst. However, on August 4, 2025, BayFirst announced that they would be discontinuing the Bolt loan program.

Was the Bolt loan an SBA loan?

Yes and no. The SBA loan program doesn’t offer an official Bolt loan program. Instead, the “Bolt” loan designation was created by BayFirst Financial to market its expedited small-dollar SBA 7(a) loans. So, the Bolt loan was an SBA 7(a) loan, but the name for this segment of small-dollar loans was created by BayFirst.

Key features of the SBA Bolt loan for small businesses

SBA Bolt loans weren’t the only fast, small business loans on the market, but they did stand out for a few reasons.

  1. Loan amounts were significant enough to make a difference in a business, but not so large that they needed extensive documentation or collateral.
  2. Processing time was just days, so businesses received funding much faster than the weeks or even months of traditional business loans.
  3. The streamlined application process required much less paperwork. Most businesses would have the documentation they need on hand (or could access it quickly).
  4. The shorter 10-year repayment period helped businesses plan for the near future and not worry about being saddled with decades of additional debt.
  5. Competitive interest rates made the SBA Bolt loans a more stable option compared to “fast cash” alternatives.

Application requirements at a glance

While the SBA Bolt loans may have been quicker to get, they still had minimum requirements to meet. These loans were for legitimate, proven businesses that could demonstrate creditworthiness.

Businesses had to:

  • Be in an approved industry for SBA loans (no life insurance, lobbying, or primarily gambling businesses, among others)
  • Be U.S.-based
  • Meet the SBA’s standards for “small”
  • Operate for profit
  • Have 2 years of demonstrated operations (some small startups may also qualify)
  • Show proof of revenue and ability to repay
  • Be unable to get financing on reasonable terms from other sources

Alternatives to SBA Bolt Loan

Now that the Bolt loan program has been discontinued, you might be wondering what your other options are. Here’s a comparison of the SBA Bolt Loan against other small-dollar SBA loan programs.

SBA Bolt Loan vs. SBA Express Loan

Closest in speed and simplicity to the SBA bolt loan would be the SBA Express loan, a small-dollar SBA loan meant to eliminate excessive paperwork and decisioning. Of other SBA loan program offerings, the SBA Express loan reduces the number of forms and procedures required, and allows lenders to use more of their own loan analysis, procedures and documentation than other SBA loans.

SBA Bolt Loan SBA Express Loan
Amount $25,000 - $150,000 Up to $500,000
Uses Working capital Working capital, equipment purchase, inventory, real estate
Repayment Term 10 years 10 years (25 for real estate)
Time to funding Approval and funding within days 30-90 days
Availability Available through 1 SBA lender Available through multiple SBA lenders
Requirements Fewer documentation requirements than standard SBA loans Fewer documentations requirements than standard SBA loans

SBA Bolt loans vs. other small business loan options

SBA Bolt loans were fast, flexible, and available to businesses that may have been shut out of other financing opportunities. Now that they have been discontinued, take a look at some other options available. Here’s how they compared to common business funding programs used by companies today:

  • Traditional SBA 7(a) loans: Offer much larger amounts (up to $5 million) and broader use cases, but the approval and funding take much longer (weeks or more). Paperwork and documentation needs can be extensive.
  • Term loans: Offer a lump sum that’s repaid over a set period, usually with a customizable term, and for larger amounts. Approval process can take longer, require physical collateral, and may not be guaranteed by the SBA or partner banks.
  • Lines of credit: Offer flexible funding to borrow from again and again, instead of the single, one-time lump payout of a Bolt loan. Comes with a higher interest rate in most cases and can be harder for the average small business to qualify for. ‍
  • Revenue-based financing: Provides upfront cash that is rapidly repaid through a percentage of daily sales. Comes with a higher interest rate and lacks a fixed repayment structure that helps businesses budget better.

Many SBA loan portals let you shop around to see what rates, terms, and limits you qualify for. Don’t be afraid to ask questions about these various lender offers so you know how the loan process will look and to ensure you get the best service – and deal!

Lendio makes a great first step in the process, showing you the loans you’re likely to qualify for, rates available, and the loan terms you can expect before you fill out all the paperwork.