| In addition to our own small
commercial loan programs, the Federal Government has several
programs that provide guarantees to lenders. The 7(a) Loan
Guaranty Program is the SBA's primary loan program for up to
$1,000,000. This
enables us to provide financing to small businesses when
funding is otherwise unavailable on reasonable terms. The
eligibility requirements and credit criteria of the program
are very broad to accommodate a wide range of financing needs.
The Lo-Doc
Program is primarily used for smaller loans with up to
$100,000 guaranteed to the lender. This one-page SBA application to
obtain guaranty has a quick turn around after meeting the
lenders requirements. The applicants credit history and
character greatly matter in this type of financing.
The 7(m) MicroLoan Program
is offered through non-profit lending organizations which
provide technical assistance. These loans have a maximum loan
amount of $25,000 and cannot be used to pay existing
debt.
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required |
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Have you applied for a Bus
Loan within the last year? |
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Have you or any
principal/partners ever had a
bankruptcy? |
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If
yes |
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Are you or any principal
involved in any pending
lawsuits? |
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If yes
describe |
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Are all your current taxes
paid? |
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Do you owe money on
student loans? |
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If yes, are you current
w/payments |
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Do you have the ability to
make a downpayment on the loan? |
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If
Yes |
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Do you own your own
home |
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If
yes |
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How much equity in your
home |
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Describe any additional
collertial you can offer |
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Will there be
partners |
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If married will spouse be
on the loan |
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Are you and partners US
citizens |
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If no, do they have a
"green card" |
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Have you ever been
arrested or convicted of a criminal
offense |
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If yes, when &
explain |
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If opening a franchise,
have you been approved? |
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Additional
Comments |
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Email: |
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