[Fundthis!]

Looking for a direct lender for sba a7 loan.
I have 15 merchant all doing between 1 to 8 million

[@jeannette]

I work for AmeriFactors, we are owned by Gulf Coast Bank and we offer SBA 7a. Give me a call 770-362-2307 or email me jnearing@amerifactors.com

[Yankeeman07]

Looking for a direct lender for sba a7 loan.
I have 15 merchant all doing between 1 to 8 million

I rep for a SBA Bank - 7(a) and USDA B&I Loans

[mistamca]

Looking for a direct lender for sba a7 loan.
I have 15 merchant all doing between 1 to 8 million

Ask for their most recent tax return. If the profit is not at least 60k, then do not even bother with them.
Why 60k? The most important factor in the beginning is being able to afford the loan (DSCR). Most banks operate between 1.2-1.3 (Low Risk/Specialized Banks at around 1.2 // "high risk" banks like to see 1.3)

Every 90k in loan amount is roughly 1k in monthly payment. If you take their profit and multiply it by 5 then you have "roughly" the approval amount that they will qualify for.

Don't forget that you can add interest expense into the profit since you MUST refi all debt that is more expensive than SBA.

For example, I had a company that does 60k profit but they had 135k in interest expense. They received ~850k

Good luck on the SBAs. They are an absolute nightmare to navigate but once you learn it, you will be surprised how much revenue can be made off an MCA book.

[Yankeeman07]

Ask for their most recent tax return. If the profit is not at least 60k, then do not even bother with them.
Why 60k? The most important factor in the beginning is being able to afford the loan (DSCR). Most banks operate between 1.2-1.3 (Low Risk/Specialized Banks at around 1.2 // "high risk" banks like to see 1.3)

Every 90k in loan amount is roughly 1k in monthly payment. If you take their profit and multiply it by 5 then you have "roughly" the approval amount that they will qualify for.

Don't forget that you can add interest expense into the profit since you MUST refi all debt that is more expensive than SBA.

For example, I had a company that does 60k profit but they had 135k in interest expense. They received ~850k

Good luck on the SBAs. They are an absolute nightmare to navigate but once you learn it, you will be surprised how much revenue can be made off an MCA book.

Good Info - In many instances a very aggressive CPA can kill a SBA Loan

[Yankeeman07]

Looking for a direct lender for sba a7 loan.
I have 15 merchant all doing between 1 to 8 million

Did you find SBA Bank to work with?