Can you get a small business loan with bad credit?
As with personal loans, it’s possible to get a small business loan with bad credit—scores as low as 580. However, you’ll have to demonstrate strong cash flow, and banks are more likely to require collateral to reduce the risk of lending.
How to Choose a Small Business Loan
Just as certain types of loans are more appropriate for certain businesses, some lenders may be better suited to your business than others.
SBA Extends Deferment Period for COVID-19 EIDL and Other Disaster Loans
The U.S. Small Business Administration announced extended deferment periods for all disaster loans, including the COVID-19 Economic Injury Disaster Loan (EIDL) program, until 2022.
PPP Processing Delays Continue
Measures implemented by the U.S. Small Business Administration (SBA) to screen for potential fraud in Paycheck Protection Program (PPP) applications continue to cause stress and delays in the system, AICPA executives said during an online Town Hall.