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A 10 Year Lease with a 10 Year Loan

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March 5, 2014

By Bob Coleman
Editor, Coleman Report

AmiKassarWSJ Blogger Ami Kassar argues against SBA’s lease requirements for SBAExpress Loans

He writes, “I’ve written in the past about the price of speedy loans and how expensive they can be for small-business owners seeking fast cash.”

“But what are the other options for those who need capital but don’t want to pay sky-high interest rates or suffer through short amortization periods?”

“The U.S. Small Business Administration’s Express Loan is one option, as it is designed to be much faster than the arduous 7(a) SBA loan, but the requirements for this quick alternative may be holding back many from applying.”

“What are those requirements? Well, SBA Express Loans require small business owners to have a 10-year lease, or the option on a 10-year lease, for their business location. The owners also need the property landlord to sign a general release allowing the SBA to seize the business assets—including office furniture.”

Read more at WSJ

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