Florida, received an alarming letter from the Small Business Administration (SBA) in August. The letter claims he took out a $20,000 SBA loan in 2021, and it was time to pay it back. The problem?
Program funds can be used for start-up costs and working capital, franchise fees, upgrading equipment, expanding inventory, business acquisition, refinancing and the purchase, construction, renovation ...
It used to be that purchasing a business with a Small Business Administration 7(a) loan, which allows buyers to finance up to $5 million, required the purchase of 100% of the company. While buyers ...