Forums: Discussions for entrepreneurs and small business.

 

Unique Business Loans for Minorities, is about SBA-like business loans to minority businesses when the bank says "no".  It was my featured posting to this week`s Carnival of the Capitalists which was hosted by my blog, Show Me the Money.

 

Hope you find it interesting!

  

Marshall

Interesting article. There are many programs out there, and I thought this was in interesting. However, SBA ask for assets to fund your business, and they expect a lot and sometimes entrepreneurs expect a lot.

According to one bank with whom I work, the lenders have the option of approving the loan even if there isn`t sufficient back-up collateral under the SBA Express program which covers amounts up to $350 thousand.

But the loans I wrote about in Unique Business Loans for Minorities are not SBA loans.  As I wrote "Generally, the borrower must pledge sufficient assets, to the extent they are reasonably available, to secure the business loan."  As in most loans, the underwriting criterion vary and each lender will base a decision on the unique facts of the lending opportunity.