SBA Loan

searcher profile

January 11, 2021

by a searcher from Columbia University - Columbia Business School in Princeton, NJ, USA

Is there any flexibility in the SBA for the spouse to be excluded from signing the PG?

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commentor profile
Reply by a lender
from University of Missouri in St. Louis, MO, USA
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.
commentor profile
Reply by a lender
from California State University, Sacramento in Seattle, WA, USA
+ 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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