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  1. #1
    Join Date
    Mar 2009
    Posts
    1

    Default Securing an SBA Loan with a Criminal Record

    My question involves business law in the state of: Missouri.
    The owner of the company where my wife works wants to sell his construction company to me and my wife. This will require a loan from the company's bank and an SBA loan. My wife has a felony C conviction in 1979, accused of theft in which she plead guilty, due to lack of funds to defend herself. She has no previous or subsequent arrests of any kind other than a couple of minor traffic violations. Our question is; will the SBA grant a loan based on this record?

  2. #2
    Join Date
    Sep 2005
    Location
    Behind a Desk
    Posts
    98,846

    Default Re: Securing an SBA Loan with a Criminal Record

    If she applies for a SBA loan she will be asked to disclose her record, which will be used in their character evaluation.

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