In case the lender makes approval of the loan, depending on a SBA guarantee, an application copy as well as a credit analysis is sent by the lender to the SBA Office which is nearby. After the approval of the SBA, the institution of lending readies the loan and makes funds disbursal. The borrower makes loan payments on a monthly basis directly towards the lender. Similar to other loans, the borrower is responsible for repayment of the complete loan amount. "No balloon payments, prepayment penalties, application fees or points are permitted with the 7(a) loans. However repayment plans might be tailored to each business." (SBA Assistance: Financial Program and Other Assistance)

Christina: Sir, one last question before we wrap up. Could share some of the achievements of SBA Loan Program?

Steve Preston: I feel privileged to share with you that since 1953, about 20 million of the small businesses have...
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