Would a felony possession charge with no conviction but agreed adjudication upon completion of probation conditions be an automatic disqualification for a SBA 7a loan? I am currently serving my probation terms.
If the crime was adjudicated then you need to list it on the form but it shouldn’t stop you from getting through the SBA’s approval process. If you have a felony conviction then it may not stop you from begin approved either. You’ll have to submit fingerprints under that scenario from the FBI to determine if your conviction was something that would prohibit the SBA from guaranteeing your loan.
315 Madison Avenue, 24th Floor
New York, NY 10017
Disclaimer: We spend hours researching and writing our articles and strive to provide accurate, up-to-date content. However, our research is meant to aid your own, and we are not acting as licensed professionals. We recommend that you consult with your own lawyer, accountant, or other licensed professional for relevant business decisions. Click here to see our full disclaimer.
Product or company names, logos, and trademarks referred to on this site belong to their respective owners.