Starting an Ice Cream Business: SBA Loans

Starting an Ice Cream Business is a series of articles that answers popular questions asked by our clients and students in regards to starting an ice cream business.

Question: In today’s rough economy, is it difficult to get an SBA loan?

In short, no. Under the current federal stimulus package, SBA has changed some important criterion that in the past made it harder to get an SBA loan.
SBA now guarantees 90% of all loans versus 80% two years ago
Collateral requirements are now more flexible
Banks are now paid a fee to process a loan versus them paying a fee two years ago