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Irwin Law
Irwin Law, Attorney
Category: Business Law
Satisfied Customers: 6847
Experience:  30+ yrs. representing small business, real estate, probate
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My husband and I are applying SBA loan to start a business

Customer Question

My husband and I are applying for an SBA loan to start a business
Submitted: 1 year ago.
Category: Business Law
Customer: replied 1 year ago.
I have a misdemeanor conviction for forgery and lost my insurance license for 5 yrs in Texas. I received 15 months probation. No restitution and no community service. My attorney tried to ask for an apology from the courts and for the charges to be dismissed, but the prosecution said that the state of Texas has too many fraud and forgery charges for different individuals and they are expecting some sort of conviction. He said that if we didn't want to take a deal on this case that they would find another application and issue new charges. I did not have the financial means to fight that battle so we took the deal and I had 15 months of probation. And I do not know if that is an automatic denial for an SBA loan. The application asks questions, but does not say not to apply.
Customer: replied 1 year ago.
I have been off probation since October of 2014.
Customer: replied 1 year ago.
The offense in question occurred in 2008. And charges weren't filed until 2012.
Expert:  Irwin Law replied 1 year ago.

There is no automatic rejection of applicants for SBA loans based on a record of a crime. It will depend on the circumstances, which you can explain in the application. It will also depend on the loan criteria of the bank that you are applying to, so it is a two step process. Here is an article that deals with your exact situation: http://www.lancasterlawblog.com/2011/09/articles/business-law/does-a-criminal-record-disqualify-me-from-an-sba-loan/ This is not a recommendation of the attorney who wrote it though.

I hope that this information is helpful and that you will enter a positive rating. That is the only way I will be compensated for assisting you. Bonuses are appreciated too. I will be happy to answer follow-up questions which relate to this one. Also, since we are not acting as your attorney be sure to confirm our information with a local attorney. Thanks for choosing JUST ANSWER.

Expert:  Irwin Law replied 1 year ago.

HELLO AGAIN. I hope that my Answer has been helpful. If you need more information, please send me a Reply. If not, I hope that you will enter a positive rating for my Answer so that I can receive credit for assisting you. Thanks again for using JUST ANSWER.

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