Will An SBA Guaranteed Loan Require That I Pledge My Personal Residence As Collateral

2:44
 
Share
 

Manage episode 238801389 series 2518941
By Ryan Smith. Discovered by Player FM and our community — copyright is owned by the publisher, not Player FM, and audio is streamed directly from their servers. Hit the Subscribe button to track updates in Player FM, or paste the feed URL into other podcast apps.
Not every individual obtaining an SBA guaranteed loan is required to pledge their personal residence or any other real estate owned as collateral. However, banks, credit unions and non-bank lenders are required by the SBA’s Standard Operating Procedure manual to take the applicants personal residence or other real estate owned as additional collateral on non-real estate loans where there is a shortage of collateral.

42 episodes