In general, eligibility is based on what a business does to receive its income, the character of its ownership, and where the business operates. Normally, businesses must meet SBA size standards, be able to repay, and have a sound business purpose. Even those with bad credit may qualify for startup funding.
What is a SBA 7a form?
The 7(a) Loan Program, SBAs primary business loan program, provides loan guaranties to lenders that allow them to provide financial help for small businesses with special requirements. 7(a) loans can be used for: Acquiring, refinancing, or improving real estate and buildings.
What is an SBA 601 form?
SBA Form 601 is a certificate of agreement to ensure contractors comply with EO 11246 when working on federally assisted construction projects. A borrower or contractor seeking SBA financing of more than $10,000 must complete and submit Form 601.
What is the SBA loan closing process?
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What is SBA Form 652?
(b) SBA Form 652, a certification by the concern you are financing that it will not illegally discriminate (see part 112 of this chapter). (c) SBA Form 1941 (for Section 301(d) Licensees only), executed both by you and by the concern you are financing.
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What is the purpose of the Small Business Administration?
SBA was created in 1953 as an independent agency of the federal government to aid, counsel, assist and protect the interests of small business concerns; preserve free competitive enterprise; and maintain and strengthen the overall economy of our nation.
What is the SBA form 1244?
Application for Section 504 Loans. This Form 1244 incorporates 504 Debt Refinancing updates made in the Economic Aid Act and is used to review the Applicants eligibility for a 504 loan.
Related links
SBA Form 641 (Counseling Information Form)
I permit SBA or its agent the use of my name and address for SBA surveys and information mailings regarding SBA products and services (Yes No ). I
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