[WestCoastFunding]

45-90-120 days to close and massive paperwork vs 24 hours

That’s nonsense. I’ve done $10M bridge loans in three weeks or less. Paperwork? What, a 1003 application, rent roll, P&L and appraisal. Takes a client about 2 seconds to produce it. After that the lender will usually take it from there.

With a SBA you get tax returns, income statements, balance sheets, schedule of liabilities and agings and you have enough to get a term sheet. During DD they’ll require some SBA applications be completed with additional docs, but a response borrower can complete these tasks in a day. Beginning to end 30 days. If it’s a $5M SBA you just made yourself $100-150K.

Sure beats chasing merchants with $10,000 1.49s paying $1,000 commissions.