Ryan Smith

SBA Ineligible Businesses and Eligible Passive Companies

This page provides valuable information on SBA ineligible businesses and eligible passive companies. It outlines the specific types of businesses that do not meet SBA loan requirements and explains the criteria for eligible passive companies. Understanding these distinctions is crucial for borrowers looking to secure SBA financing, ensuring they meet the necessary qualifications for their business types.

SBA 7(a) Loan Guaranty Fee Calculator

SBA Offer In Compromise (OIC)

An SBA Offer in Compromise (OIC) is a resolution option for borrowers who are unable to fully repay their SBA loan. This process allows borrowers to settle their debt for less than the full amount owed, based on their financial circumstances. At SBA Central, we provide guidance and expertise to help you navigate the OIC process effectively, ensuring a fair resolution while maintaining compliance with SBA guidelines. Let us help you explore your options and work toward a solution tailored to your needs.

SBA Security Agreement Form 1059

The SBA Security Agreement Form 1059 is a key document used to secure loans under the Small Business Administration (SBA) programs. This form establishes the lender’s legal interest in the collateral provided by the borrower to secure the loan. It ensures compliance with SBA requirements and protects the lender’s rights in case of default.

SBA Unconditional Guarantee Form 148

The SBA Unconditional Guarantee Form 148 is a critical document required in the SBA loan process. This form establishes the guarantor’s unconditional promise to repay the loan, ensuring the lender has additional security. It is an essential part of the SBA's efforts to facilitate business loans while mitigating risk.

SBA Loan Note Form 147

SBA Loan Note Form 147 is a standard document used to formalize the terms and conditions of an SBA-backed loan. This form outlines critical details such as the loan amount, interest rate, repayment terms, and borrower obligations. It serves as a legally binding agreement between the borrower and the lender, ensuring transparency and compliance with SBA loan program requirements. For borrowers and lenders, Form 147 is an essential tool to secure financing while maintaining accountability within the SBA lending framework.