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What are the Credit Requirements for Disaster Loans?

  1. Credit History – Applicants must have a credit history acceptable to Small Business Association (SBA)
  2. Repayment – Applicants must show the ability to repay all loans.
  3. Collateral – Collateral is required for physical loss loans over $25,000 and all Economic Injury Disaster Loans loans over $25,000. SBA takes real estate as collateral when it is available. SBA will not decline a loan for lack of collateral, but requires you to pledge what is available
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