Loans of $14,000 or less do not require collateral. Loans in excess of $14,000 require the pledging of collateral to the extent it is available. Normally the collateral would consist of a first or second mortgage on the damaged business property. In addition, personal guaranties by the principals of a business are required. The SBA will not decline a loan for lack of collateral, but you must pledge available collateral.
Is collateral required for these loans?
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Quantum Health, LLC. was founded in 1999 by Kara Trott to help self-insured employers reduce health-care costs. Over the past five years, Quantum...
Danny Farrow created Farrow Concrete Pumping, Inc., in his home-town of Pebble Beach, Calif., in 1997.
From its humble beginnings with a single...
David Garza served in the National Guard in Iraq in 2010 and also a former employee of the Hidalgo County Sheriff’s Office in Edinburg, Texas....