May 14, 2020 · I called SBA and althought my call was escalated, nobody could figure out what the problem was. I was told they do not have tech support, and we could not just speak to the loan officer over the phone. They also would not escalate my call further, and after 45 minutes, they hung up on me.

Jan 2, 2025 · Really depends on whether or not there was a PG on the SBA loan (any time someone owns more than 20% of a business, a PG is required). The SBA requires lenders to file a remittance form every month on all the loans they service.

Feb 27, 2022 · After I got past their constant, annoying mailings, they did a soft pull of my credit and approved me for an unsecured loan of up to $170,000. The terms were pretty steep: Seven year term with 15.99% interest and 4% origination fee. There is no prepayment penalty and the origination fee is financed into the loan.

Jul 16, 2020 · I applied for the SBA EIDL loan and going back and forth the idiots at BofA who dont understand how my S-Corp business works, I was granted the loan on June 28th 2020 with 1 INQ on EX. The EIDL loan has a deferment of 1 year and I …

Feb 14, 2025 · Or 650+ I can put them into a line of credit at 15%. No, it's not prime bank rates but SBA 7(a) loans are all over 10% right now. With a 700+ credit score and tax returns showing a profit I can a borrower into a 10 year SBA 7(a) loan at 10.5%.

Jul 15, 2020 · I am a very new business a sole proprietorship I started in January 2020 I started making small amounts of money up until March. When the corona virus began I lost more than 75% of my clients I average around $13,000 a year from this side business weekends only but just recently registered it and a...

Jul 8, 2014 · The business could easily support the principal and interest payments of a several million dollar loan (assuming interest rates do not skyrocket the next 12-18 months). I have not discussed buying the business from them yet (I would like to have my ducks in a row first).

Dec 13, 2022 · The SBA may assign the EIDL loan to a collection agency, but they cannot sue you personally. Just my two cents. WF Signify 12K, OneAZ PLOC 18K, Venmo/SYNCB 20K, OneAZ Visa 12K, Upgrade Visa 8K, Bread Amex 8.5K, Mission Lane 6.3K, C1 …

Feb 10, 2023 · Ok as per the thread to get your Business report for free...I got mine to see what was in it. I will need to submit some corrections for address. My business has the following trades Wells Buss CC $25k limit Buss LOC $10K Chevron Gas Card $1,500 limit Marcus Buss CC $31K limit SBA EDIL l...

Jun 8, 2020 · Today my business received $6*,000.00 in EIDL loan funds to go with the $3,000 grant received about a month ago. Other than some delay, the application, approval and funding process went extremely smoothly for me. I have opened a separate business checking account to hold these funds for clear tra...