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However, Schildge said that more must be done, recommending that eligibility requirements for SBA 7(a) loans should be relaxed as well.
“These small manufacturing businesses are historically strong but don’t have the resources to weather the storm without help,” wrote Schildge. “If SBA preferred lenders take into account only the past few months’ business performance-as current policy requires-most of these businesses would fail by any credit test. Lenders should instead examine the longer-term financial history of a company when making decisions about whether to approve a loan.”
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