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Author Archives Prudent Lenders

Assisting Hurricane Sandy Communities

Posted by Prudent Lenders in News with No Comments

PrudentLenders visited the South Jersey coast this weekend to assist in the cleanup efforts and distribute information on SBA Disaster Loans to local businesses. We started in the barrier island communities north of Wildwood and made our way north, visiting Avalon and Ocean City. The first half of the day was spent hauling floating dock […]

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SBA Loans and Personal Credit Scores

Posted by Prudent Lenders in News with No Comments

SBA does not publish definitive thresholds for borrower credit scores. Prior personal bankruptcy does not cause a borrower to be ineligible to receive an SBA loan. Experience shows, however, that personal credit scores of 650+ are, generally, approved by SBA. Personal credit scores between 600 and 650 usually necessitate a discussion of issues enco...

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SBA 7(a) Eligibility – An Overview

Posted by Prudent Lenders in SBA 7(a) Lessons Learned – SBA Question? - Ask the Experts with No Comments

When SBA’s Denial of Liability on a 7(a) Guaranty is Justified: Introduction to Eligibility With the exception of PLP loans deemed to be ineligible under applicable federal law or SBA policies and regulations, generally, the Agency does not deny liability on a 7(a) Loan guaranty unless a lender’s noncompliance with program guidelines caused...

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