(Philadelphia Business Journal) — In most ways, a loan backed by the Small Business Administration is just like any other loan, and the process for getting one is much the same. The borrower applies to the bank, and the bank decides if he or she meets the criteria for credit. If the bank determines it cannot make the loan on its own, it may then look to an SBA program, most commonly the 7(a) guarantee program. If the SBA agrees, it will guarantee a portion of the credit, typically 75 percent or more. There are pros and cons for the borrower. Working with the SBA typically allows banks to offer rates and terms they may not otherwise be comfortable with. But there are also fees that range from 2 percent to 3.75 percent of the guaranteed portion of the loan, depending on loan size. For example, a $250,000 7(a) loan with a 75 percent guarantee would carry a $5,625 fee.