Questions

Can a foreign corporation (similar to an LLC) qualify for an SBA 7(a) loan to acquire businesses in the United States?

Is it possible to get an SBA 7(a) loan as a foreign corporation or would an incorporation in the States be necessary? What would be the next step to get pre-approved for a loan? All the businesses are profitable and have a sufficient Debt Service Coverage Ratio.

1answers

No. The business needs to be registered in the USA and at least one majority owner (ex. 51%), should be a legal resident or citizen of the USA.


Answered 8 months ago

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