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Regular 7(A) Guaranty Purchase Package Tabs is a 17-page legal document that was released by the U.S. Small Business Administration on December 1, 2015 and used nation-wide.
Q: What is a Regular 7(A) Guaranty Purchase Package?
A: A Regular 7(A) Guaranty Purchase Package is a set of documents required by the Small Business Administration for the purchase of a loan guaranty.
Q: What are the tabs in a Regular 7(A) Guaranty Purchase Package?
A: The tabs in a Regular 7(A) Guaranty Purchase Package include information such as loan application documents, credit reports, tax returns, financial statements, and personal guaranty documents, among others.
Q: Why are tabs used in a Regular 7(A) Guaranty Purchase Package?
A: Tabs are used in a Regular 7(A) Guaranty Purchase Package to organize the various documents and make it easier to locate and review specific information.
Q: Who is responsible for preparing a Regular 7(A) Guaranty Purchase Package?
A: The lender or financial institution originating the loan is responsible for preparing a Regular 7(A) Guaranty Purchase Package.
Q: What is the purpose of a Regular 7(A) Guaranty Purchase Package?
A: The purpose of a Regular 7(A) Guaranty Purchase Package is to provide the necessary documentation for the Small Business Administration to review and approve the purchase of a loan guaranty.
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