how do they work?i dont have great credit?
2006-12-04 01:48:08 · 2 answers · asked by Anonymous in Business & Finance ➔ Small Business
Yes. The SBA guarantees that the bank will get paid if you default on the loan. The SBA assists in the process of getting a business loan and they help walk you through the process. You need a well written and well detailed plan before they will even talk to you. After that they will help you refine your plan and to manage your finances. You have to be able to prove that you are able to manage what little money you have before anyone is going to loan you more.
2006-12-04 02:39:28 · answer #1 · answered by Joe K 6 · 0⤊ 0⤋
there is lots of paperwork. you can probably get it from their site.
you have to have a pretty sound business plan/idea. my mom has gotten two of these and had big success. it's hard work.
2006-12-04 09:55:25 · answer #2 · answered by Sufi 7 · 0⤊ 0⤋