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Ted LeBow
Managing Principal and Co-Founder
Asked a question 10 months ago

How does a business partner with 40% ownership in one business who is defaulting on an SBA loan in a separate business effect the ability for the the first business to apply for a SBA backed loan?

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ami kassar
CEO Multifunding LLC and author of The Growth Dilemma

In a traditional enviroment - the business that he owns 40 percent of would not be elegible for a new SBA loan.  In this environment, if they have a shot it's probably best to try an emergency loan - and see what happens.