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… practice is for the small business to put up 100% cash collateral for the standby letter of credit amount or put a … of credit from participating lenders that only require collateral equal to 25% of the face value of the standby …
… status delinquent over 180 days and not secured by collateral, or specifically exempt from referral to Treasury, … were delinquent over 180 days which were not secured by collateral, to update its SOP and include guidance from the …
… lender, then don’t apply. Finally, assess what kind of collateral you can offer since you may be required to secure … of credit. Keep in mind, not all lenders require physical collateral. They may just require that you sign a personal …