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SmartBiz is offering first- and second-draw PPP loans through May 31, 2021. The main requirement to receive a first-time PPP loan, whether through SmartBiz or any PPP lender, is that the coronavirus pandemic has negatively impacted your small business.Is smartbiz a good option for small businesses?
Despite the long process, SmartBiz is an excellent resource for merchants who want an SBA loan or even a non-SBA bank loan, which SmartBiz also offers. SmartBiz reviews from users of the service are overwhelmingly positive; if your business is eligible and you’re looking for a low-cost business loan, SmartBiz loans may be perfect for you.When did smartbiz loans come to BBB's attention?
SmartBiz Loans came to BBB's attention in May 2016. A review of the company’s complaints was done in April 2021. Complaints on file state delays in getting updates on PPP loan applications.What types of loans does smartbiz offer?
SmartBiz mainly offers two products, the SBA (7) (a)loan and the standard bank loan – the Commercial Real Estate Loan is a subcategory of the (7) (a). To qualify for the loan, applicants need to have a good credit rating, no recent bankruptcies, be in business for at least 24 months, and have no outstanding tax liens.