I have been reading up on SBA loans for Business acquisitions and it looks very interesting since there are a lot of business that have a high enough monthly cash flow to cover the debt service and would qualify in terms of the Debt Service Coverage Ratio.
I just couldn't get this answered and was wondering if a foreigner with a foreign corporation (equivalent to an LLC) qualifies for an SBA 7(a) loan or would I have to incorporate a business in the USA?
I guess I would have a hard time getting any regular loans with no credit history or physical presence in the States.
Does anyone use SBA loans to acquire businesses in the States and has anyone experiences or knowledge if a foreign entity would qualify for a loan?
I just couldn't get this answered and was wondering if a foreigner with a foreign corporation (equivalent to an LLC) qualifies for an SBA 7(a) loan or would I have to incorporate a business in the USA?
I guess I would have a hard time getting any regular loans with no credit history or physical presence in the States.
Does anyone use SBA loans to acquire businesses in the States and has anyone experiences or knowledge if a foreign entity would qualify for a loan?
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