WHO QUALIFIES FOR A GUARANTEE
SIZE STANDARDS
A borrowing business must meet both of these requirements:- Have a Tangible Net Worth ("TNW") of less than $15 million. (Note: TNW excludes Goodwill,etc.)
- Have an average Net Income AFTER Taxes of less than $5 million over the last 2 taxable years. (i.e. If average net income after taxes was $6 million in 2009 and $3.999 million in 2010, the applicant would have met this requirement.)
USE OF FUNDS
Borrowing business owners may use SBA loans for a number of business activities including purchase of real estate, construction, renovation, or leasehole improvements; acquisition of furniture, fixtures, machinery, and equipment; purchase of inventory; and working capital.
ELIGIBLE BUISNESS
The borrowing business must be a for-profit enterprise. It must engage in or propose to do business in the United States or its possessions.
PERSONAL HISTORY
CREDIT WORTHINESS
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