Avoid SBA Loan Delays
September 03, 2024
by a lender from North Carolina State University - Poole College of Management in Raleigh, NC, USA
The SBA 7(a) financing process involves several crucial steps...
Two common roadblocks in SBA business acquisitions are life insurance and landlord negotiations.
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Life Insurance: The SBA often requires a life insurance policy for the borrower. Start the application process ASAP to handle medical exams, underwriting, and paperwork without delays.
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Landlord Negotiations: Securing lease transfers or getting landlord consent can be time-consuming. Engage with your landlord early to help them understand the requirements and to obtain necessary approvals.
Address both of these as early as possible to keep your closing on track.
from The Tulane University of New Orleans in New Orleans, LA, USA
from Harvard University in San Diego, CA, USA