ANSWERS: 3
  • Upon approval of the Small Business Administration credit application, a lender supplies a loan using the SBA ensuring a portion. This guarantee provides the lender added comfort when thinking about loans to companies that meet SBA size standards that could otherwise not qualify. The loan proceeds authorize the company to capitalize their business.
  • Instead, it provides a guarantee to banks and lenders for the money they lend to small businesses owners. This guarantee protects the lenders interests by promising to pay a portion of the loan back if the business owner defaults on the loan.

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