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People also ask
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What is the easiest SBA loan to get approved for?
What is the easiest SBA loan to get approved for? SBA microloans are some of the easiest SBA loans to qualify for because they tend to cater to disadvantaged businesses. They may have relaxed requirements for credit score, time in business and annual revenue.
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What does in liquidation disbursed SBA loan mean?
All SBA Loans that are fully disbursed and in regular servicing or liquidation status. Fully disbursed means that the loan has been closed and all disbursements have been made. On a revolving LOC – fully disbursed means that the loan has been closed and the initial disbursement has been made.
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What is SBA Form 172 used for?
SBA Form 172 is only used by lenders for loans that have been purchased by SBA and are being serviced by approved SBA lending partners. The lenders use the SBA Form 172 to report loan payment data to SBA on a monthly basis.
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What is a SBA 7a loan used for?
The 7(a) Loan Program, SBA's primary business loan program, provides loan guaranties to lenders that allow them to provide financial help for small businesses with special requirements. 7(a) loans can be used for: Acquiring, refinancing, or improving real estate and buildings. Short- and long-term working capital.
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When must real estate loans through the Small Business Administration SBA be paid back?
SBA 7(a) loans Repayment terms can range from 10 to 25 years, depending on how you use the funds. For example, SBA working capital loans must be repaid within ten years, whereas you could take up to 25 years to repay a commercial real estate loan.
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When to use SBA form 172?
SBA Form 172 is only used by lenders for loans that have been purchased by SBA and are being serviced by approved SBA lending partners. The lenders use the SBA Form 172 to report loan payment data to SBA on a monthly basis.
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