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    1 Reply Latest reply on Dec 4, 2008 8:08 AM by NoBullFunding

    Owner credit score needed for an SBA loan?

    soho123 Newbie
      Is the process very difficult for an SBA? We have been in business for 3 years with growth and are looking for a lower interest loan to pay higher loans from a personal investor. Can SBA guaranteed loans be used for this? 1 owner's credit is not great.
        • Re: Owner credit score needed for an SBA loan?
          NoBullFunding Scout
          It depends on how bad the credit score is and what caused it to be low. There is not specific number that will qualify or disqualify a borrower. Also, be aware that unless the SBA loan reduces your payment by at least 20%, it won't be eligible for refinance. If there is a balloon payment, it would make it eligible for an SBA loan, so perhaps you could convince the investor to restructure the note to have it balloon.