BoeFly and the new business credit score program; bQual were recently featured in an Huffington Post: Small Business article by Jerry Chautin discussing the SBA’s new credit score model.
On June 6th, 2014 U.S. SBA Administrator; Maria Contreras-Sweet removed the federal underwriting requirements for small business loans of $350,000 or less.
This is a huge step in a favorable direction for small business owners and entrepreneurs looking for smaller loan amounts need to start or expand their business.
As quoted in the Huffington Post, Contreras-Sweet states “SBA’s total credit score will make it easier and less time-intensive for banks to do business with the SBA.”
Mike Rozman; Co-President of BoeFly was also quoted in the article regarding BoeFly’s new program bQual, which allows small business owners to know their business credit score before applying for financing.