Frequently Asked Questions # 6

6. What assistance does the ASBDC provide to me if I am seeking a loan?

The ASBDC is knowledgeable about the type of information that lenders and SBA want to see when you make a loan request of them. The ASBDC can guide you through the process of assembling a good business plan and/or loan proposal that presents your plans clearly. If you already have a proposal, we can offer feedback on its contents and any modifications that may be advisable.

When you present your loan request, the lender may suggest that you work with the ASBDC in preparing a formal SBA loan application. Since we are very familiar with SBA's loan requirements, we can assist you in presenting your loan application so that it contains all of the required exhibits and tells your business story completely. Lenders and SBA have told us that borrowers who work with our office usually do a better job of presenting their loan request, thereby making it easier for the lender and SBA to do their jobs and make a decision regarding your loan request.

The ASBDC does not have authority to approve your loan request. We cannot influence the lender or the SBA their decision about your loan. The ASBDC does not have any money to loan to individuals or businesses.

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