Wednesday, May 28, 2008

SBA - Experience Wanted

No, I'm not referring to the open position at the SBA now that Small Business Administration chief Steven Preston has been nominated to lead HUD.

These days, SBA lenders increasingly require a prospective borrower to have relevant experience before approving a business acquisition loan for either a franchise or a non-franchised operation according to New Jersey Biz.

In a pre-screen I just completed, each of the SBA lenders I contacted expressed concern over the prospective buyer's lack of industry related experience as part of their respective decisions to decline interest in the acquisition loan.

Need help finding the right lender or telling your story the right way? Read "Matchmaking for Business Loans" and give me a call!

Tags : SBA , 7a loan , 504 loan , Steven Preston , SBA loan

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