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SBA Loan Programs

SBA Loan Programs. ODJFS Akron Mark Hansel, SBA (216-522-4191) September 22, 2009. The SBA Guaranty. Guaranty loans Not a direct lender Most banks are active. SBA Finance. Lender driven Guaranty up to 90% under Recovery Usually 50%-85% Max of $2 million for 7(a). The Usual Process.

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SBA Loan Programs

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  1. SBA Loan Programs ODJFS Akron Mark Hansel, SBA (216-522-4191) September 22, 2009 SBA Cleveland District Office

  2. The SBA Guaranty • Guaranty loans • Not a direct lender • Most banks are active SBA Cleveland District Office

  3. SBA Finance • Lender driven • Guaranty up to 90% under Recovery • Usually 50%-85% • Max of $2 million for 7(a) SBA Cleveland District Office

  4. The Usual Process • Apply to the bank • May recommend SBA support • If declined, find out why SBA Cleveland District Office

  5. Likely SBA Situations • Start-ups • Changes of ownership • Collateral shortfalls SBA Cleveland District Office

  6. SBA Eligibility • Must be “small” • Good character and credit • US citizen or LPR • Business type SBA Cleveland District Office

  7. Types of Business • For profit • Active, not passive • No to certain types (like gambling) SBA Cleveland District Office

  8. SBA Guarantee Fees • Waived under Recovery • Graduated (2,3,3.5%) • May be financed SBA Cleveland District Office

  9. SBA Interest Rates • Really a market rate • Usual limits of P+2.25-2.75% • May be higher under Express SBA Cleveland District Office

  10. SBA Credit Policy • Repayment ability • Historic or projected earnings • Reasonable projections SBA Cleveland District Office

  11. SBA Collateral Policy • “Take all” usually • May be relaxed under Express SBA Cleveland District Office

  12. Who Guarantees? • 20% or more ownership • Perhaps under 20% SBA Cleveland District Office

  13. SBA Loan Uses and Terms • Working capital up to 7 years • Equipment up to 15 years • Real estate up to 25 SBA Cleveland District Office

  14. The Express Family • Regular, Patriot and Community • Can do lines and term loans • Loan limits vary SBA Cleveland District Office

  15. SBA Resources • www.sba.gov • 1-800-U ASK SBA • mark.hansel@sba.gov • 216-522-4180 for Cleveland office SBA Cleveland District Office

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