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1. Client Login +1 (800) 830-0488 Call Us Now HOME PRICINGS & SERVICES WORK WITH US CONTACT BECOME AN AFFILIATE BLOG More All Posts BASICS HOW TO.. Ben Anthoine / Yotis Tonnelier Mar 28 2 min read HOW TO GET SBA LOAN ELIGIBILITY INTRODUCTION: You need to qualify and fulfill some requirements which determines your eligibility and consider on your business characters as well as yours, being the business owner. Most probably, on general basis, you can qualify for the SBA loan if you have credit score of 680 and above, a maximum debt-to- equity ratio of three or four times and a minimum debt service coverage ratio (DSCR) of 1.25 times. REQUIREMENTS AND QUALIFICATIONS: Under this heading, we will discuss general requirements which are nearly similar to the other SBA loan programs, required to qualify for an SBA loan. Following are some basics to qualify for an SBA loan for your small business. Let us have a look: One of the basic requirement is that your BUSINESS SIZE should be small enough. Making it simple, your business must have $750,000 to $38.5 million or less in annual revenue and the employees should be less than 150. Your CREDIT SCORE should be 680 or above. You should have an experience of 2 to 3 years managing your business. You need to prove that you are a good manager with 2 plus years of BUSINESS TIME. Typically you should have a maximum debt-to-equity ratio of 3 times for new businesses or 4 times for established businesses. Proving SUFFICIENT EQUITY. Your ABILITY TO REPAY should be good enough, that is, your cash flow should be sufficient to provide better coverage to all your loans. SBA will also require a PERSONAL GUARANTEE from all owners who own 20 percent or more of the company. It is not a must requirement but, if you have more COLLATERAL, you will have better chances of getting finance. If you have any inquiries regarding the Credit repair services or need to know your eligibility score for SBA loans, contact us at www.creditelites.com HOW TO.. 0 views HOME PRICINGS & SERVICES WORK WITH US CONTACT BECOME AN AFFILIATE BLOG More © 2020 by www.creditelites.com