Credit Score Test

Part of the home loan CET show a credit score of 700 or higher may enable applicants to borrow money at reasonable rates and terms. As such, an application may qualify for the higher disaster loan interest rate if the primary wage earner’s credit score is equal to or greater than 700.

Updated on
September 9, 2022
Published on
June 20, 2018
The 7(a) Loan Program, SBA’s most common loan program, includes assistance for each business with unique needs.
SBA 504 loans are very popular for long-term, fixed rate financing of up to $5 million for major fixed assets.
The average Microloan is about $13,000. The Microloans program provides loans up to $50,000 to small businesses.
SBA Glossary

Common SBA Terms

Everything you need to know about common terms used to discuss SBA Loans.
Collateral
Assets pledged by a borrower to secure a loan...
S-Corporation
A form of corporation, allowed by...
DBA
ex. Blocker & Sons LLC, doing business as Bob's Burgers
Applicant Entity
The business entity requesting...
Certificate of Competency
A certificate issued by the Small Bus...
Trend Analysis
A comparative analysis of...
Small Business
A business smaller than...
Extraordinary Items
Additional expenses that are...
Loan Authorization and Agreement (LA&A)
A contract between SBA and the borrower that...
Substantial Damage
This means uninsured or otherwise uncompensated...
Contract
A mutually binding legal rel..
Principal
the owner(s) of the Applicant Entity that...
Phase 2
Process to be used to determine economic injury for...
Normal Gross Margin
The margin that would have been...
Small Business Development Centers (SBDC)
SBDCs offer a broad spec...

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