I worked with commercial loans and SBA stuff is difficult to get simply because it's hedged on risk. If you need an SBA loan to expand being a landlord and you have a year experience, yeah you might get it. If you just bought a new business and you have no experience with it, you may get denied.
They look for essentially a business plan that has been thoroughly thought out. It sucked for us because we had to report EVERY DAY someone missed their payment until it was paid. The SBA gives a decent rate for what it risks, but they are an unmovable force. You cannot explain to the the situation or what. Follow the terms to a t or get yanked.
They look for essentially a business plan that has been thoroughly thought out. It sucked for us because we had to report EVERY DAY someone missed their payment until it was paid. The SBA gives a decent rate for what it risks, but they are an unmovable force. You cannot explain to the the situation or what. Follow the terms to a t or get yanked.