Yes. The SBA must review your financial statement and one for each partner, officer, director and stockholder with 20 percent or more ownership. The SBA requires the principals of the business to personally guarantee repayment of the loan and, in some instances, to secure the loan by pledging additional collateral.
Must I submit a personal financial statement with my loan application?
SBA Success Story
Skip Success Story and go to Left Sub-Menu Links For over twenty-five years J. Perez Construction Inc. has provided construction services for many commercial and government projects ranging in...
Dr. Justin Kim owner of Trinity Vision Center continues to get the assistance he needs through SBA and its loan programs. He started his eye care...
There are many trite but true expressions about dealing with adverse situations—“When life gives you lemons, make lemonade,”...