Do older businesses succeed because they’re older? Or do they succeed because being older opens up more opportunities for funding?

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Most SBA loans have terms that stretch into years, with 7(a) loans having a repayment term going up to 10 years. The Builders CAPLine (a type of 7(a) loan), however, cannot have a loan term of more than 5 years.

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Small Business Administration (SBA) grants millions of loans, counseling sessions, business development assistance, etc. available for business owners. Choosing the wrong SBA loan could mean that you’re losing out on important benefits that could help your business.

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There are several SBA loan options available, but which one is right for you. Do you even qualify. Here are details on 7 SBA loan options, who they work best for, and how to qualify.

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The Department of Justice is currently hiring trial attorneys to prosecute loan fraud cases. But there are more reasons why the Paycheck Protection Program may have burned through its funds more quickly than its expected end date of May 31st.

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Minority small business owners can get funding from Accion. The Accion Opportunity Fund is a financial support system that provides business owners with access to capital, networks, and coaching.

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Since the SBA does not actually specify the use of its lending products for vehicles, there are significant restrictions, including the obvious one of having to use the proceeds for an actual business purpose.

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The SBA is well-known for needing a lot of documentation before they will loan a small business any money. But they will want even more if you want to get a loan from them to purchase a going concern.

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During the pandemic, the number of credit disputes leading to relief dropped from 25% to 4.1%. This alerted the House Select Subcommittee on the Coronavirus Crisis that something was amiss.

But a poor personal credit score doesn’t just affect your personal finances and ability to borrow as a consumer. It also affects your ability to get small business loans. And it even affects some business credit scores.

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In general, SBA loan eligibility is based on what a business does to receive its income, the character of its ownership, and where the business operates. Even those with bad credit may qualify for startup funding.

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