Many small-business owners have a difficult time finding financing to start or expand their business. The Small Business Administration is one potential source of financing for many types of small businesses, but there are also some businesses that do not qualify for SBA loans. Go to sba.gov, search for "7(a) loan program eligibility, and see whether the following businesses are eligible to apply for SBA financing 

1. Growing Like a Weed is a lawn-care business that needs funding to buy additional equipment in order to expand. Does it meet the SBA criteria? Why or why not? 

2. Glamour Galore is a cosmetic company that pays sales commissions based on a system that depends on salespeople recruiting additional salespeople. It needs funding to build a marketing campaign. Does it meet the SBA criteria? Why or why not? 

3. Glory Days is a senior daycare center operated by a local church. It needs funding to remodel the center's kitchen and install an elevator to make the building accessible to those in wheelchairs. Does it meet the SBA criteria? Why or why not? 

4. Lettuce Entertain U is a company needing funding to remodel an old warehouse to house its latest vegan restaurant. Does it meet the SBA criteria? Why or why not?

Answer rating: 100% (QA)

1 Growing Like a Weed The company is eligible The following are the reasons a The business is operat... View the full answer