SBA State Tax Liens: Do they hinder approvals?

On most SBA applications there is a question asking applicants to state if they are delinquent on child support or federal and state taxes. If their reply is ‘YES’ the application may not be eligible for processing under certain SBA lenders policies and procedures.

Businesses may want to consider clearing up tax liens if you are more than 60 days delinquent on any obligation to pay taxes or child support arising under an administrative order, court order repayment agreement between the holder and a custodial parent, or repayment agreement between the holder and a state agency providing child support enforcement services.

Again, approvals or processing the loan request is always going to be subject to each bank’s Standard Operating Procedures. Additionally, businesses should know that these liens does not always show up on the credit report, it just depends on how far behind you are on paying, therefore being honest is best!

I hope this helps!



About Permit Place
For those experiencing the boom in business due to Universal Pre-K, you may find a need to expand your facility to increase the square footage of your current child care center to make room for all of the new students whose parents are eagerly awaiting to enroll their children.
Structuring a day care loan historically has had a few challenges and packaging it to obtain the SBA guarantee can be ever more challenging. However, if you’ve decided to ride the wave and now you’re ready to prepare for the expansion, here are a few pointers you may want to consider:
1. 90% financing is available which helps save money for other investments.
2. Favorable 25 year terms are available to cover project costs.
3. If some or part of your school has been designated as a ‘Green’ facility, you may qualify for SBAs green initiative and you may be eligible for more money.
4. All loan terms are fixed without any balloon mortgages which may bring anxiety.
5. Private for-profit schools may also quality if the school does not have a religious curriculum.
SBA loans work for child care center owners needing to expand existing facilities. SBA loans are also available for newly formed operators of child care centers, pre-schools, private schools and even Montessori schools.

Apply for a Child Care Loan
With the right experts advising your team, applying and securing a SBA guarantee for a child care center may be a lot less complicated. Our team of professionals will help save you time by assisting you and your advisors with putting together a comprehensive loan package including tax records for the child care center or new borrower, along with your growth plan, financial projections including 36 months of projected cash flow along with all specified documents lenders require!

You can get started today! To explore your options call to speak with our SBA associates directly by calling (855) 460-7376 or visit the website to request more information. Or ,if you are ready to start a fundraising campaign-visit to request your complimentary telephone consultation.Print

Slam Dunking SBA Guarantees

I’m feeling that many women owned

businesses are shying away from continuing with the process of securing a SBA loans and for that reason I’d like to encourage those who have or will start the process to continue with it because it’s a slam done when all T’s are crossed and I’s dotted!

Compiling the information is important and answering the questions that concern the underwriters must be addressed in the documentation to avoid delays. Of course, knowing these questions is only half the battle.

When I put together a SBA loan I start with the end in mind and that is the obtainment of the SBA guarantee and work my way through the package. This is not always easy but it’s necessary to pull together all of the necessary information to avoid submitting incomplete packages that will only frustrate underwriters and possibly cause them to halt or decline the loan.

I’m looking forward to continuing the conversation. Stay tuned!

Captured Moments: Enjoying every moment.

It’s Good Friday, and it feels like a good day.  Today, in my time of reflection I had a revelation and it felt really good! The time is allowing me to pull out photos, look at videos and it’s amazing how times fly. Ten years ago seems like yesterday and I’m surprised how the times have changed and are changing. In fact, my entire outlook on how to move forward has changed, and I intend to cherish and capture every moment.

Time does not wait for anyone one. I remember given birth and the photos are amazing. I remember taking pictures capturing every stage of the growth process and the photos are also amazing. I remember the baby steps, the first words, and everything in between and it’s an amazing experience as I am sure you would agree.

How are you feeling today? How are you capturing each of those special moments of your family, and children’s lives? How will you capture today’s moments? Your story matters, and it is my hope that you will share it by commenting on this post.

Have a Good Friday and a Good Day Enjoying Capturing Moments.


What’s your story? How will you finance your growth?

Starting a business often times requires sweat equity, meaning spending personal savings, credit cards or refinancing your home to finance your growth.

This may not always be the case, but often times it is! What will you do to finance your growth? Here’s a quick link for you to see where you to consider!

Do you Know the 7 Tests of Borrower Eligibility for an SBA Loan? — Don’t Make Mistakes that Void the SBA Guaranty

Balancing Modern Love and Business: What’s your secret?