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SBA loans are small business loans guaranteed by the Small Business Administration and issued by participating lenders. As all banks are different, an applicant will likely be presented a different rate structure depending on who you talk to.
"As of early last year, agreements which give the third-party manager sole discretion over business operations are no longer accepted.”
Regardless of which loan structure you chose to move forward with, if you want to pursue third-party management, the qualifying rules and regulations have changed. As of early last year, agreements which give the third-party manager sole discretion over business operations are no longer accepted. The SBA now says the applicant must have meaningful oversight of the third-party manager’s activities which are to be outlined in the agreement.
By following these guidelines, you can both qualify for an SBA loan and have your facility professionally managed by a third party.