Generally if there is any money owed to the Federal government, an SBA lending Bank will not issue any credit to a business . Because FastwaySBA works with many different SBA Lenders, we have programs that approve SBA loans even if the owners owe taxes.
An SBA loan can be funded to a business if the applicant owes taxes ONLY if there is an established payment plan with the IRS in place.
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If there are tax liabilities (personal or business related) that have remained unpaid for an extended period of time, there may be liens or judgements in place. If this is the case, the availability to enter a payment plan is not offered by the IRS. Therefore, any tax liens and judgements would result in an automatic decline for SBA loan approval.
Payment plans can be set-up online or by calling into the IRS.
For assistance with getting approved for an SBA loan or to explore unique options for the business, apply here.
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