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How to qualify for SBA Loans?

Please share experience in securing SBA Loans. What security is required? Eg personal guarantee, assets Who are good providers in Bay Area? How long is the period from application process to loan funding Share positive and negative experiences

Answers

Mark Woollgar
Title: Partner
Company: Adams Woollgar Financial Services LLC
(Partner, Adams Woollgar Financial Services LLC) |

Our experience has been very smooth. Our client is now being awarded SBA Business of the Year. We recently obtained significant loans for them. Security is huge and covers personal guarantees by all significant shareholders and a charge on all assets.

What made the process easy was our personal relationships with the banks and also knowing the banks with preferred lender status with SBA. This allows the credit decision being made by the bank directly and avoiding waiting on the SBA internal approval process.

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