SBA Guarantee Loan Programs

I have experience in NOT getting one.
smirk.gif
 
It's been awhile, and I could be wrong...

I believe they are going to want you to have 1/3 of the amount you are asking for in cash or very liquid. I spoke with someone that is trying to go the SBA route and he said the same is true today.
 
[ QUOTE ]
Have you tried yet Jamin?

[/ QUOTE ]

No. Checking around for those with experience.

[ QUOTE ]
It's been awhile, and I could be wrong...

I believe they are going to want you to have 1/3 of the amount you are asking for in cash or very liquid. I spoke with someone that is trying to go the SBA route and he said the same is true today.

[/ QUOTE ]

Hmm... I took the SBA primer and I didn't see that. However, there are many loan programs to choose from. I've narrowed it down and I'd choose a "7a loan." As far as I can see for that loan program, that wouldn't be necessary.
 
Traditional bank financing is better. All a SBA loan is a bank loan guaranteed by the government, so there are usually additional fees, lots more paperwork, and strigent requirements like life insurance, pledge your house and wife has to sign on note to name a few.
 
[ QUOTE ]
Traditional bank financing is better. All a SBA loan is a bank loan guaranteed by the government, so there are usually additional fees, lots more paperwork, and strigent requirements like life insurance, pledge your house and wife has to sign on note to name a few.

[/ QUOTE ]

Better is relative when the SBA loans can offer much longer terms. Especially if one is going to purchase something like a K-boom and a large shop to put multiple trucks in.

I mean, I have a friend who is looking into this type of stuff and I'm hypothetically speaking for him.
wink.gif
 
You must log in or register to reply here.

New threads New posts

Back
Top Bottom