Frequently Asked Questions
what credit score do you need to be approved and would you need a down payment?
GNBDC looks at each application on a case-by-case basis. There is no set minimum on credit scores. GNBDC does require a formal detailed business plan outlining the purpose of your loan request and generally no require that an applicant provide some equity into their business.
02/22/2010
Could someone with a recent bankruptcy get qualified for a GNBDC Loan? if the bankruptcy was as a result of a court ordered ruling during a divorce procedure?
A recent bankruptcy is not the sole deciding factor in a GNBDC loan decision. Each case or client is reviewed individually. If the bankruptcy is discharged at the time of application submission then we would proceed with reviewing the overall credit request.
11/05/2009
How does GNBDC help businesses?
GNBDC helps businesses by providing financing and business counseling to the business owners. Also, as a GNBDC client, the business owner becomes part of a "family" of entrepreneurs and has access to a wide range of resources and networking opportunities that may help mange and grow the business.
03/11/2009