searcherColumbia University - Columbia Business SchoolRutgers-The State University of New Jersey-Newark/New Brunswick - Rutgers Business School
SBA LOAN
Is there any flexibility in the SBA for the spouse to be excluded from signing the PG?
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lender
University of Missouri - Columbia - 01/11/2021
If the spouse is not an owner of the business they don't have to guarantee the loan. The only caveat would be if there is a lien placed on your home(s)/real estate that your spouse owns with you. In that case they would have to do a limited guarantee in the amount of the home equity. However if your lender is telling you that a spouse has to guarantee, that is something you should push back on.
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searcher
Harvard University - Harvard Business SchoolPrinceton University - 01/12/2021
Don't buy a business without telling your spouse! LOL
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lender
California State University, Sacramento - College of Business Administration - 01/13/2021
+ to Colin's post, I would add that if the outside spousal income is important to debt service or some other aspect to the underwriting, then that might be a strategy for getting the loan approved. But Colin has outlined the points well.
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