A general loan may suit your business's needs best, but the
7(a) program also offers several specialized loans. The LowDoc
Program promises quick processing for amounts less than $100,000.
"LowDoc" stands for "low documentation," and
approval relies heavily on your personal credit rating and the
business's cash flow. "The LowDoc is probably the closest
you'll get these days to a good, old-fashioned character
loan," says Al Stubblefield of the SBA. That fact, combined
with the favorable interest rates, fees and maturity terms offered
by the SBA, makes the LowDoc an unusually good deal in today's
loan marketplace.