Closing Your SBA Loan: Tip #2
* Use the Guaranty Purchase Package Tabs to Your Benefit *
When closing your new SBA loan, maintaining the SBA Guaranty you worked diligently for during the application process is of the utmost importance. Did you know, aside from the Authorization, the Guaranty Purchase Package Tabs are an excellent source of information to assist you with properly closing your new SBA loan? With everything from additional details on equity injection to what is expected for loan disbursements, the Guaranty Purchase Package Tabs offer another perspective on what the SBA considers to be prudent. No lender wants to think their newly approved loan will ever default, but being familiar with the documentation the SBA requires lenders to provide in case it does will help guide you in collecting sufficient documentation up front during closing.
The team at CGS is as knowledgeable about guaranty purchases as we are about closing new loans. With our help during closing, your SBA loan file will be ready for whatever future situations may occur. Click the link below and find out what makes CGS the “Gold Standard” of SBA lending.
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