[Zach]

Hello,

Besides Fundingcircle and SmartBiz, who else is currently out there that's decent to work with?

We have a plethora of overqualified borrowers that we need traditional products for.

I'd strongly prefer not to "superbroker"

[Olderguy]

SmartBiz only does SBA uncollateralized up to $350,000
and they send to Funding Circle if file doesn't pass SBA.
Have you reached out to a real SBA non bank lender like Newtek?

https://www.funderintel.com/businessloanlenders

[goldenhippo80]

SmartBiz only does SBA uncollateralized up to $350,000
and they send to Funding Circle if file doesn't pass SBA.
Have you reached out to a real SBA non bank lender like Newtek?

https://www.funderintel.com/businessloanlenders

is there a way to signup with Funding Circle besides reaching out to their referral email?

[mistamca]

Hello,

Besides Fundingcircle and SmartBiz, who else is currently out there that's decent to work with?

We have a plethora of overqualified borrowers that we need traditional products for.

I'd strongly prefer not to "superbroker"

Don't avoid a strong superbroker with an actual team behind them. I do not cobroker SBAs but I do have some pretty strong volume.
I could give you a list of banks & I could pay you 100% of the full commission that the bank is willing to pay you. Why? Volume.

To be frank, my lender list is kept pretty close to my chest. Why? It has taken a lot of time & money to build these relationships.
If you want to avoid the superbroker route, then go to conferences (best route) or pull the list of top PLP by volume. All these lenders vary a bunch just like MCA.

For example, low asset, mainly working capital is going to be different than a building purchase. A growing company that needs projected income to qualify is going to a different lender than someone that just got done with a divorce (probably lower credit score).

Don't bother with Expresses. They suck. Stricter underwriting, more work, less money. Even when the loan is 250k, I still avoid going the Express route.

The goal with SBA is to get denied as quickly as possible.

Good luck.

[fundingsmbs]

overqualified borrowers need to go to their banks and see how that works out. no money being made chasing those merchants

[Olderguy]

is there a way to signup with Funding Circle besides reaching out to their referral email?

I don't know if you can sign up direct with them....however i wouldn't recommend them...they go direct and steal your client for renewals. You can go through Smart Biz though.

[Olderguy]

Following up from the Newtek post.

I know the managing director - Scott Shulman
Austin Briggs - Asst VP

Scott Shulman | Managing Director
Newtek Business Finance Solutions
Direct: (212) 273-8146
sshulman@newtekone.com
www.newtekone.com

Austin Briggs| Assistant Vice President
Newtek Small Business Lending
Office: 212-356-9500 ext. 10579| Direct: (914)-334-6131
Email: abriggs@newtekone.com| Web: www.newtekone.com

They are the largest non bank SBA lender in the US. Understand you have flexibliity with deals in the loan committee. I have had them go back and grant me exceptions on files. Secondly a non bank SBA lender will allow you to collateralize personal assets as well as business assets. I did a SBA 7A in Hawaii for $350,000 and we just put a third UCC on his house. $2M SBA 7A on a company that had $10M equipment in Brazil.

And I posted some specific SBA stuff here:

https://dailyfunder.com/showthread.php/23880-Sba-7a

[omegafund]

If you have a plethora of overqualified borrowers just call local banks. Get a relationship with them.