Credit Score Test

Part of the home loan CET show a credit score of 700 or higher may enable applicants to borrow money at reasonable rates and terms. As such, an application may qualify for the higher disaster loan interest rate if the primary wage earner’s credit score is equal to or greater than 700.

Updated on
September 9, 2022
Published on
June 20, 2018
The 7(a) Loan Program, SBA’s most common loan program, includes assistance for each business with unique needs.
SBA 504 loans are very popular for long-term, fixed rate financing of up to $5 million for major fixed assets.
The average Microloan is about $13,000. The Microloans program provides loans up to $50,000 to small businesses.
SBA Glossary

Common SBA Terms

Everything you need to know about common terms used to discuss SBA Loans.
Assets
The amount of current assets that is left...
Credit Elsewhere Test (CET)
The test to determine the...
Hardship Waiver
Method used to approve a...
Corporation (C-corp.)
The most common form of business org...
Partnership
A type of unincorporated business org...
Subcontract
A contract between a prime cont...
Physical Loans
Funds to repair/replace dis...
Affiliate
Business concerns are affiliates if one concern...
Injury Period
The time period during...
Working Capital (WC)
The amount of current assets that...
Primary Activity
The major business activity of...
Electronic Data Interchange
Transmission of information bet...
Equity
An accounting term used to...
Phase 2
Process to be used to determine economic injury for...
Accrual Basis Accounting
recognizes revenues when earned and expenses are...

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