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03-19-2020, 04:23 AM #5
- Join Date
- Oct 2016
- Posts
- 4,318
Just need to see if the state is approved yet. Basically needs to be creditworthy as show they were successful before the disaster. Also have to prove that credit isn’t available elsewhere. Have to have all of financials ready (tax returns, income statements, balance sheets, A/R etc). Have to prove that they’ve been damaged economically. And it’s going to take months. I’m talking 3+ because there is no way they are staffed up for this. Also remember that about 90% of disaster loans historically have gone to individuals that had personal property claims, not business applicants. Among business applicants the approval rates have been a little less than 50%.
Last edited by WestCoastFunding; 03-19-2020 at 04:48 AM.
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