Here is the truth about SBA Loans. Know who you are working with. Today with the Internet site, blogs like this one, pretenders are all out there. Here are five questions you should ask before signing.
1. Do you know how to create a balance sheet? Send him one tax return and ask the professional to do so.
2. Ask him what is the credit criteria of the banks he or she may be working with? Be specific.
3. Ask them if they belong to any NADCO or NAGGL?
4. Ask for their resume? Where they have worked and what license they have.
5. Ask what could be a problem with the loan? Explain your scenario.
If they cannot provide the above questions, ask “Are you working with the right person or company”