[Jamesf]

Who does sba loans besides smart biz?
I know sba is what it is, just looking for other companies that help in the process.

[Hedley Lamarr]

Who does sba loans besides smart biz?
I know sba is what it is, just looking for other companies that help in the process.

JamesF-I am not an expert on SBA Loans, but I can say that most community and regional banks are fairly aggressive providing SBA loans in market and some will go out of market. There are some with national footprints like NewTek and Live Oak.

[RichardGerard]

JamesF,

What Smartbiz focuses on for small business loans is SBA Express 7A loans- and they do NOT lend the money but rather act as an intermediary to analyze Cash Flow/package the documents. Many Banks that offer SBA Loans do NOT offer the Express program because the Small Business Administration guaranty is only 50% of the loan- versus the standard 75%.

The Groups that Kevin mentioned are both reputable Preferred Lender Providers- which allow them to write the loans without a third party needed to Underwrite the SBA Guaranty. Neither of those lenders (NewTek is not a Bank) do the SBA Express loans.

While we work with Smartbiz, we also work direct with several other banks that provide the same product- while we do the Cash Flow analysis, soft credit pull, and document gathering. Feel free to reach out if you have questions and/or if you would like assistance.

Business Capital Consultants USA
3237 Route 112 Suite 9
Medford, NY 11763

Office: 631-880-7501

www.bccusa.com

[Jamesf]

JamesF-I am not an expert on SBA Loans, but I can say that most community and regional banks are fairly aggressive providing SBA loans in market and some will go out of market. There are some with national footprints like NewTek and Live Oak.

Pretty much what I told him, if he can do it, he can ask his bank and get it done, SBA loans arent a private product, and those lenders are really helping to speed up the process, which is valuable as well however.

JamesF,

What Smartbiz focuses on for small business loans is SBA Express 7A loans- and they do NOT lend the money but rather act as an intermediary to analyze Cash Flow/package the documents. Many Banks that offer SBA Loans do NOT offer the Express program because the Small Business Administration guaranty is only 50% of the loan- versus the standard 75%.

The Groups that Kevin mentioned are both reputable Preferred Lender Providers- which allow them to write the loans without a third party needed to Underwrite the SBA Guaranty. Neither of those lenders (NewTek is not a Bank) do the SBA Express loans.

While we work with Smartbiz, we also work direct with several other banks that provide the same product- while we do the Cash Flow analysis, soft credit pull, and document gathering. Feel free to reach out if you have questions and/or if you would like assistance.

Business Capital Consultants USA
3237 Route 112 Suite 9
Medford, NY 11763

Office: 631-880-7501

www.bccusa.com

Sure thank you ill email you right now for some advice.

[sigmundpannu]

SmartBiz offers multiple lenders on one platform. Every SBA Lender is different in what they will accept, and won't, as well as how they calculate out DSCR. Some factor in living wages, some don't. Officer compensation add backs can be different from lender to lender, as well as minimum FICO and business score requirements. In addition, what compensation you are able to receive from the lender or charge the borrower are different. Some banks will require landlord subordination, and some will not. Another key factor is if the bank will put a lien on any personal residence or real estate. Q2, Stone Bank, Independence (you'll wait 3 months here) are a few others we use outside of SmartBiz. In addition, no lender on the SmartBiz platform does the 7a Express program-the speed you receive from them is due to technology and the contracts they have in place with the different lenders on their platform.

[Jared@bccusa.com]

..Live oak is an extremely well run bank and has comprehensive teams for each vertical. I was out there last summer they are great, however they also have the toughest UW matrix out there. will not do sub 680 fico borrower can never have had a bankruptcy and if they had a significant "Moral Turpitude" issue say a Bar fight that led to charges etc they may also decline the loan. All of those items are not deal killers at other top SBA PLP banks

[Hedley Lamarr]

..Live oak is an extremely well run bank and has comprehensive teams for each vertical. I was out there last summer they are great, however they also have the toughest UW matrix out there. will not do sub 680 fico borrower can never have had a bankruptcy and if they had a significant "Moral Turpitude" issue say a Bar fight that led to charges etc they may also decline the loan. All of those items are not deal killers at other top SBA PLP banks

They have a spectacular office campus!

[Jared@bccusa.com]

yes they do complete with gourmet cafeteria and dog walkers! Met CEO one of the most down to earth nice guys in the biz. They have learjet flying all over the country on deals over 1 million pretty cool

[Hedley Lamarr]

yes they do complete with gourmet cafeteria and dog walkers! Met CEO one of the most down to earth nice guys in the biz. They have learjet flying all over the country on deals over 1 million pretty cool

More than just one jet. I like their craft beer patio.