Definitions for "LowDoc"
a streamlined loan program which seeks to ensure a faster turnaround for businesses in need of financing
The LOWDOC program is no longer available. It was an SBA program that had quicker response of the loan decision (SBA had to render a decision within 36 hours), but there were limitations. The maximum loan amount was no more than $150,000, the purpose of the loan was to start or grow a business; the existing business employed no more than 100 people, had average annual sales for the preceding three years not exceeding $5 million, and the business included affiliates.