Get SBA Announces New Advantage - Sba

Propose an Offer in Compromise If approved, the amount you owe to the SBA will be wiped clean. Whether you're approved depends on the state of your business finances. If the SBA rejects your Offer in Compromise, they may allow you to revise it and resubmit a new one.

Build healthy entrepreneurial ecosystems and create business friendly environments; 3. Restore small businesses and communities after disasters; and 4. Strengthen SBA's ability to serve small businesses. The SBA will achieve these goals through its core programs and services.

Beginning May 2023, simplified underwriting can be used for loans $500,000 or less, including: Through an acceptable SBSS score, currently 155 and above. Through cashflow analysis. Through the lender's same policies and processes they use for similar-sized non-SBA guaranteed loans, including use of credit scoring ...

Ownership. The final rule revised 13 C.F.R. § 124.105 to allow an 8(a) Participant or former Participant that is performing one or more 8(a) contracts to substitute one disadvantaged individual or entity for another disadvantaged individual or entity.

Affiliation based upon Common Management, Identity of Interest, and Franchise Agreements are being eliminated. After May 11, 2023, businesses will not be found to be affiliated on these bases.

SBA's final rule clarifies that this rule only applies to contracts set aside or reserved for small businesses – meaning, a joint venture cannot be populated with individuals intended to perform for any contract or agreement set aside or reserved for small businesses, unless all parties to the joint venture are " ...

The 7(a) Loan Program, SBA's primary business loan program, provides loan guaranties to lenders that allow them to provide financial help for small businesses with special requirements. 7(a) loans can be used for: Acquiring, refinancing, or improving real estate and buildings. Short- and long-term working capital.

On August 1, 2023, SBA implemented policies to expand access to capital for small businesses by modernizing SBA's signature 7(a) working capital* and 504 fixed asset loan programs.