Monthly Archives: March 2015

BLOG: Timeline for Suspending Your Business

Many business owners who are members of the National Guard or Reserves make the decision to suspend their business during absences caused by training, mobilization, and deployment. There are many reasons business owners might choose to do so, but oftentimes suspending business is the only viable option, especially when there is no one else with the skill or knowledge to take over while you are gone. For example, artists, craftsmen or even independent truck drivers do not have the option to pass their business on to someone else. (more…)

BLOG: SBA 7(a) Loans — SBA Express Loan & Patriot Express Loan

With the SBA Express loan and the Patriot Express Loan lenders can use, to the maximum extent possible, their own loan analyses, procedures and documentation, in addition to their own application forms, internal credit memoranda, notes, collateral documents, servicing documentation and liquidation documentation. In return for the expanded authority and autonomy provided by the program, lenders agree to accept a maximum SBA guaranty of 50 percent (85 percent for Patriot Express). (more…)

Virginia SBDC