Need a Funder or Vendor? START HERE

Results 1 to 5 of 5
  1. #1

    Sba lender needed

    I need a REPUTABLE lender that does SBA.

    Please advise if you or you know anyone that does.

  2. #2
    Senior Member Reputation points: 66298 Olderguy's Avatar
    Join Date
    Sep 2021
    Location
    Irvine, CA
    Posts
    2,084

    Reach out...I can probably help you....sounds like you have a problem....

    May not be the lender....

    https://dailyfunder.com/showthread.php/23880-Sba-7a
    Last edited by Olderguy; 01-25-2023 at 08:46 PM.
    Steve Benjamin
    Professional Business Loans

    1012 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
    @ Equipment financing up to 7 years
    @ 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.

  3. #3
    Senior Member Reputation points: 81655
    Join Date
    Mar 2014
    Location
    Florida
    Posts
    2,856

    Quote Originally Posted by David6ix View Post
    I need a REPUTABLE lender that does SBA.

    Please advise if you or you know anyone that does.

    Sent you a PM
    Dave Lambert, Business Development
    dave@fcbankcard.com
    Merchant Services Consultant
    High Risk Merchant Payment Solutions
    SBA 7(a) Loans & Short-Term Funding
    T/VM: 727-291-7890
    Office: 727-233-1111
    Skype: fc-financial

  4. #4
    Direct SBA lender here, top ten nationally ranked. Don't waste time with a broker chain, go direct to the source.
    Dan Wallace
    SVP
    Enterprise Bank
    National, direct SBA lender
    Fast and creative financing solutions
    970-390-6650
    dwallace@enterprisebank.com

  5. #5
    Senior Member Reputation points: 66298 Olderguy's Avatar
    Join Date
    Sep 2021
    Location
    Irvine, CA
    Posts
    2,084

    I'd like to highlight some differences in SBA loans and lenders. Most of you have experience with SBA banks. However you should start looking into non-bank lenders for your SBA loans. Non bank SBA lenders are more flexible in their underwriting.

    Non-Bank Lenders

    An SBA non-bank lender is a financial institution that does not accept customer deposits. Their sole reason for existing is to lend money to eligible small businesses in their community.

    On the other hand, a bank is a financial institution that solicits monetary deposits from their customers and in turn loans these funds to other customers such as individuals and businesses seeking capital for a variety of reasons including starting or expanding a business.

    Banks solicit deposits from their customers for two reasons: Number one to meet the Federal Reserve’s capital reserve requirements to ensure satisfactory liquidity levels and number two because deposited funds in a demand deposit account, or what is commonly referred to as a checking account, are the lowest cost of funds.

    Government Regulation

    Due to increased government regulatory oversight it is typically more difficult to qualify for a small business loan from a traditional bank than it is from an SBA non-bank lender.

    Therefore, seeking capital from an SBA non-bank lender may be to your advantage due to the fact that non-bank lenders typically possess less stringent underwriting guidelines and do not require you to move your deposit relationship to them; which is time consuming and sometimes undesirable if you particularly like your depository institution.


    A non bank SBA lender will allow you to collateralize business and personal assets. A SBA bank will need to collateralize commercial property.

    Some examples I've seen and done. I got a guy in Hawaii $350,000 SBA 7A putting a third UCC on his primary residence for collateral as he leased his office and warehouse.

    I saw a company get a $2M SBA loan collateralizing all of their $10M equipment in Brazil.

    Typically a SBA bank might require 3 years management experience in buying a business where I've seen a non bank lender require only one year experience.

    I have approvals require collateralize all of a clients vehicles. I was able to go back to the credit committee/underwriting and have them release the requirement for liens on the vehicles and maintain the same approval.

    I have done a lot of these loans and many brokers have reached out to me with their frustration doing SBA loans. Yes you do need to do some financial analysis when reviewing the package. And it helps to have the merhant connect you with their accountant or bookkeeper for documentation needed.

    Reach out if you have questions on these types of loans.
    Steve Benjamin
    Professional Business Loans

    1012 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
    @ Equipment financing up to 7 years
    @ 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.

Similar Threads

  1. Lender(s) needed immediately
    By hardrock in forum Business Loans
    Replies: 19
    Last Post: 12-21-2022, 02:37 PM
  2. Low Rev Lender Needed!
    By supstarmoe in forum Merchant Cash Advance
    Replies: 14
    Last Post: 09-14-2022, 11:17 AM
  3. Low Rev Lender Needed!
    By supstarmoe in forum Merchant Cash Advance
    Replies: 7
    Last Post: 04-20-2022, 10:19 AM
  4. Lender Needed
    By hardrock in forum Deal Bin
    Replies: 2
    Last Post: 06-16-2020, 02:53 PM
  5. Replies: 5
    Last Post: 06-27-2019, 12:41 PM


Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  


INDUSTRY ANNOUNCEMENTS

BoA launches business loan marketplace
Quickbooks adds new LOC product
Dext Capital upsizes corp note


DIRECTORY