Bad credit is the scourge of all company efforts, so it’s understandable that you’re worried about your trustworthiness if you’re looking for a business loan. When it comes to any of the SBA 7(a) loan choices, the SBA does not have particular credit...
You probably know as a business owner that your financial situation may make or destroy your company. You don’t need to be reminded that a loan is an investment in your company’s future or that defaulting on a loan has severe repercussions. As someone who...
Understanding the Collateral Requirements for SBA 7(a) Loans If you apply for an SBA 7(a) loan, your lender will nearly always require you to secure the loan with enough collateral. As a result, when you meet with the SBA lender, you should be prepared to give up your...
Yes, as long as each of your loans complies with the SBA’s lending standards, you are permitted to have several SBA loans. This is true for both SBA 7(a) and SBA 504 loans. If you are authorized for two SBA loans of the same kind within 90 days, the SBA may...
In 2017, the marina and boatyard sector in the United States produced $5 billion in revenue and employed more than 35,000 people. An SBA 7(a) loan may be a great choice if you’re looking to buy or expand a marina or boatyard, or if you’re looking to...
In 2017, the funeral home business in the United States employed about 120,000 people and generated over $15 billion in sales. The SBA 7(a) loan may be a great choice if you own a funeral home or are thinking about starting one. SBA 7(a) loans may be utilized for...
