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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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The SBA’s Conditional Guaranty – Lessons Learned

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

Participation in the SBA’s loan programs not only provides lenders with the necessary tools to support and empower business communities within lenders’ target markets – especially for mission-based lenders participating in the SBA’s Community Advantage program – but lenders with successful SBA programs can utilize government-guaranteed le...

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