Look Up! The Ceiling Is Higher Than You Think
Hoosier Banker › Vol. 92 Nbr. 3, March 2008
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Summary
In looking for so-called alternative lenders to share their risk, bankers may think SBA programs are too small for the type of application that can make a difference in their communities. But small in SBA terms may be fairly large for the rest of us. In fact there are several different ceilings that may apply, in some cases as much as $4 million. By most considerations, businesses at the top of this SBA scale are not small, and they can carry considerable clout in a given community. There is generally a requirement to create jobs. Some companies using new technology are creating jobs with 504 loans, such as the Bloomington laboratory that packages, stores and ships medicines.
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Look Up! The Ceiling Is Higher Than You Think
"Oh, if you're talking about an SBA loan, it must be for a small business."
We hear that reaction a lot around the state from bankers who want to build their institutions' portfolios and be recognized by their communities for helping create l...See the full content of this document
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