17.
Re: SBA Loan Requirments Feb 28, 2008 11:27 PM
in response to:
mlebovits
This is correct about the 7a and 504 programs. Here is a fabulous website for those interested in learning more about SBA loans/lenders. As I said before, the key to success in these programs is selecting the "expert" lender who does SBA loans every day, and ONLY SBA loans. When you find one and talk to them, you will know what I'm talking about as to why this is critical. They will slide you right into the program and it will be painless. If you are with an inexperienced lender, it will be the most painful process you can imagine, and you should immediately consider altering your state of consciousness in some way to keep from pulling every hair on your body out. Remember that famous movie line "many have tried, and many have failed" - that's because they didn't go to the expert.
Here's the website, www.nadco.org/nadco/welcome.html - just click on the CDC Directory tab on the left and select the state where your project is located and you will be off the the races. Keep in mind that ALL lenders must go through a CDC in order to process an SBA loan application, so you are merely cutting out the middleman and going directly to the source.
Best of luck!
