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02-15-2022, 08:47 AM #1
A SBA bank will pay you 2% (up to $1M loan, and it goes down on amounts over that) on the front end and and 3/4 to 1% on the back end.
You can also have a third party fee agreement on the side (which isn't technically legal).
I would not recommend using a SBA bank and start using a non bank SBA lender.
I use the largest non bank lender in the US (capitalized at $500M) and have a direct relationship with the managing director.
(Are they just paying you a rebate? Are you charging a service fee in the submission package?)Last edited by Olderguy; 02-15-2022 at 08:53 AM.
Steve Benjamin
Professional Business Loans
522 Contessa
Irvine, CA 92620
steveprobiz@gmail.com
https://probizloans.net/
Broker, Underwriter, general business loan expert
949.228.1050
@ 24 hour funding working capital loans
@ Term loans from 3 years to 10 years at 9.5% and up
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@ Property loans - Hard Money and traditional - Primary, Investment, commercial, land, fix and flip, construction.
@ SBA loans - 7A and 504.
@ Private money equity and debt for major investments
@ Personal Loans up to gross income from personal tax return.
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02-15-2022, 08:52 AM #2
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Kevin Henry
VP-Business Development
Seacoast Business Funding, a division of Seacoast Bank
561-850-9346
Kevin.Henry@SeacoastBF.com
1880 N Congress Ave., Suite 404
Boynton Beach, FL 33426
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02-15-2022, 09:06 AM #3
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Why would you say it is "technically legal," when it is legal. It is not a gray area at all.
There are SBA guidelines on how much you can charge for packaging and there is even an SBA form that you submit in the loan closing paperwork to document the expense.
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