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What is the purpose of a SBA disaster loan?
Asked by unknown
1 Answers
SBA disaster loans can be used to replace the following items damaged or destroyed in a declared disaster: real estate, personal property, machinery and equipment, and inventory and business assets.
What are the requirements to get an SBA disaster loan approved?
Asked by unknown
1 Answers
When it comes to SBA disaster loan credit score requirements, there's no hard and fast minimum credit score for approval. However, the SBA usually wants to see a credit score of 620 or higher. If person aren't quite at the 620 mark, person might still qualify for a disaster loan.
Can SBA disaster loans be forgiven?
Asked by unknown
1 Answers
To have a disaster loan forgiven one would need use the funds for the following I.e, paid leaves, payroll maintenance, increased costs of materials, mortgage, or rent payments or lease.