Does anyone have experience using SBA loans for Canadian businesses?

by a searcher from INSEAD

1 month ago

I'm interested in buying a Canadian business that operates completely remotely. The owner has told me that we could incorporate the business in the US, have the Canadian company under the US company, and then be able to use the SBA.

Is this true and anything I should look out for?

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lender from Eastern Illinois University

Unfortunately you cannot use an SBA loan for a Canadian business. If you are a Canadian citizen then the SBA loan program does not apply to you. If you are a US Citizen and buying a Canadian business, the SBA will not fund the acquisition of businesses outside of the United States. I hope this helps to clarify. Sorry.

1 month ago | like reply | 2 likes

searcher from Camosun College

Probably best to speak with SBA lender to be completely sure.

1 month ago | like reply | 1 like

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