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What if the borrower has no collateral to support their loan request?

April 26, 2017borrower collateral loan request support

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What if the borrower has no collateral to support their loan request?

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A lack of collateral should not preclude a small business from obtaining a guaranty. If worthwhile collateral is available, however, SBFDC will attempt to secure the loan with that collateral. A refusal on the part of the Borrower constitutes a basis for decline.