Franchises are a popular method for aspiring entrepreneurs to “launch” themselves into business. They come with a proven business model, marketing, operations, training, and a network of other franchise owners who are available to answer questions and provide guidance. Franchises are one of the fastest growing segments of […]
Finances
Does a Default on an SBA Loan Affect Personal Credit Score?
Good question…and the answer is “maybe”.
Depending on how you handle and deal with the defaulted SBA loan, it can have major negative ramifications on your personal credit for years. And, if you are forced into a bankruptcy as a result of the default, it can stay […]
What Happens When You Default on SBA Loan?
What happens to my SBA loan when my business fails?
So your business is struggling, and you are wondering, what happens to my SBA guaranteed business loan?
What indeed…
Let’s answer that question by first understanding what the SBA guarantee actually means. The guarantee is actually for […]
SBA Guarantee is NOT for Borrower…it only protects the Bank in the case of DEFAULT!
When obtaining a commercial loan from your bank, your banker may tell you that SBA guaranteed loans are the best thing for your situation. And they may be…but be careful, because they come with many restrictions and hidden dangers. However, by carefully negotiating the terms, and structuring […]