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Fewer and fewer SBA Loans available

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  • Fewer and fewer SBA Loans available

    If you ever thought about getting an SBA loan, check out this article. It talks about how with this economic down turn, we are also going to see less SBA loans available to entrepreneurs.

    What's your take on this? Do you think this is going to prevent more people from starting their new businesses as their previous jobs dry up?

    The SBA will be less helpful during this downturn - Banks usually make more Small Business Administration-backed loans when the economy weakens, but that's not the case this time around.

    When credit standards tighten, lenders typically steer more small businesses to SBA loans. The government guarantees on these loans, which range from 50 percent to 85 percent, enable banks to make loans to businesses that don't qualify for conventional loans.
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