Tagged: loan program

Read With Complete Credit Small Business Administration With Recent Changes

Definitely useful, this may be for some business owners, especially due to collateral requirements and credit history were used in the past. One of the biggest changes to the SBA 7 (a) and 504 loan program was the elimination of tests of personal resources. Prior to this change, applicants will have to undergo a complex process to determine how much of the collateral may be required for a particular loan application. This change has the benefit of businesses looking for commercial loan interest rates offered through SBA loans, especially when conventional loans have been out of reach. In addition, changes to the rules surrounding the affiliate business has made it possible for certain companies to qualify for small business administration loan despite having financial connections to large companies with significant revenues. Continue reading