What Are The Several SBA Loan Specifications?

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Small businesses are the only ones who will qualify for a loan guarantee from the Small Business Administration.; The SBA loan requirements are very different from one loan to the next because there are numerous diverse loan programs.

If it has been determined that the small business needs an SBA guarantee, then they must also fulfill the SBA loan guaranty parameters.

The SBA loan requirements for a 504 or CDC loan program are simpler:

*The small business must meet the SBA size requirements

*The small business net worth cannot exceed $7,000,000

SBA loan requirements are to make sure of two things.; Number one is that the small business will not default on the loan.; Number two is that only small businesses are allowed access to the loan program.