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03-26-2023, 02:30 PM #1
Getting paid out of the SBA 7A loan proceeds
Some of you have some trepidation on getting paid on a SBA 7A loan....you don't need to have an outside fee agreement....just use these samples/templates to have your fees processed out of the loan proceeds:
Here are some samples of documents you can generate to be paid out of the SBA 7A loan proceeds...
Sample Invoice for Services:
https://acrobat.adobe.com/link/revie...9-0cb7dd13d4fd
Sample Letter of Direction:
https://acrobat.adobe.com/link/revie...f-7aac6d47ffb0
Sample SBA form 159 fee disclosure
https://acrobat.adobe.com/link/revie...7-29a892b678daLast edited by Olderguy; 03-26-2023 at 02:34 PM.
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
@ 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.
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03-27-2023, 07:53 AM #2
- Join Date
- Feb 2017
- Posts
- 3,450
This has to be stated clearly that you have to invoice these items at some point. There's no such things in the SBA as a "fee agreement" that can officially protect you. You could also present it to them beforehand and tell them that you're billing it whether or not it funds, sign on the dotted line please. You have to just present it to the merchant (like a PSF) and hope they pay it. If they call you out on it, there's no legal protection.
Most of that is fine, although stating "broker services" are really sketchy.
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03-27-2023, 08:07 AM #3Steve 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
@ 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.
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03-27-2023, 08:43 AM #4
- Join Date
- Jul 2015
- Posts
- 215
I have found the best way to itemize that form is "document collection, and preparation", with hours listed and billed accordingly.
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