top of page

Applying for an SBA loan? What brokers and banks cannot do to small business owners.

Hundreds of thousands of small business owners apply for loans from the US Small Business Administration (SBA) each year. However, small business owners should know what SBA agents and banks can and cannot do before applying. This article shares some things that small business owners should watch out for when applying for an SBA loan.

By Thomas Tramaglini, Managing Director at BRP Onesta About Thomas Tramaglini

Small business owners are easy targets.

According to the SBA, over 50% of all small businesses have borrowed money in the past 5 years. And continually one of the most popular loan products we are asked about are the SBA 7a, Express, and 504 loan products.

One thing we regularly see is that many small business owners are taken advantage of by banks or brokers. With so much misbehavior and shenanigans out there, we wrote this article to outline several things that banks, and brokers cannot do to small business owners while they apply for an SBA loan.

Two reasons why banks and brokers take advantage of small business owners

The team at BRP Onesta helps small business owners start, maintain, and grow their businesses. Each year we see hundreds of small business owners who are taken advantage of for two basic reasons:

  1. Small business owners do not know the rules so they will do whatever is asked of