Attaining an SBA loan

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August 01, 2021

by a searcher from Hult International Business School in Cambridge, MA, USA

Hi all!

Question for those with experience or work with SBA loans, what is required for a business in the starting phase to attain an SBA loan? Any tips to increase the chances of landing an SBA loan are welcome!

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Reply by a searcher
from University of California, Los Angeles in Los Angeles, CA, USA
There is a long list of requirements, however, if an owner has more than 20% equity they will need to make a personal guarantee especially if it does not have any collateral to lend against. Also need to have a an acceptable debt coverage ratio...min is 1.25, preferred for most lenders is 1.5. Goodluck!
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Reply by an intermediary
in Port St. Lucie, FL, USA
At Pharus Funding Partners ( http://pharusfunding.com/ ) that is what we specialize in. We have access to over a 150 Lenders. Feel free to reach out whenever its convenient. Have a blessed day.
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