Want to know if you can receive help from that SBA?
The Small Business Administration, (SBA loans) is for people that actually have secured assets, including some equity in their house or inventory receivables in their business.
About 8 months ago, the Small Business Administration, at the government level, looked at their portfolio and was not happy with the performance of the portfolio. What they did was they closed the pipeline that’s been open for the last 15 years to these small businesses that needed access to capital.
The government guarantees 90% of these loans. The local banks guarantee 10%. But SBA lending has really dried up. It’s available to very few people right now. That funding has dried up and quite honestly, they’re not going to help you until you’ve been in business for 2 or 3 years anyway.
For more information on accessing business credit, read on! Access Business Credit.
1 comment so far ↓
[...] This post was mentioned on Twitter by Scott J Letourneau, Shannon Shubert. Shannon Shubert said: RT @SJLetourneau Business Credit Secret: Will You Receive Help from the SBA? http://bit.ly/a9uJyW [...]
Leave a Comment