Emergency federal loans require extensive paperwork

08/13/2009 | NYTimes.com

Small businesses must show that debt they hope to pay off with government-sponsored emergency loans was incurred for "sound business use" under Small Business Administration guidelines. Experts also urge applicants to organize their paperwork before they apply for a loan at a bank. Financial statements, cash-flow projections and evidence of some legitimate debt are some of the documents that an applicant will need to provide.

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