Avoid SBA Loan Delays

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by a lender from North Carolina State University - Poole College of Management
in Raleigh, NC, USA

1yr ago

Avoid SBA Loan Delays

The SBA 7(a) financing process involves several crucial steps...

Two common roadblocks in SBA business acquisitions are life insurance and landlord negotiations.

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.
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.

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reply by a searcher 1yr ago
from The Tulane University of New Orleans in New Orleans, LA, USA

Thanks for sharing, Mihir

reply by a searcher 1yr ago
from Harvard University in San Diego, CA, USA

Good tips!