Quote Originally Posted by Olderguy View Post
That was kind of my point with Kevin....I just got a file funded with Velocity SBA that got turned down by 4 other SBA lenders. It went to the credit committee twice, denied the first time, and approved after a conference call with a high level manager and my client.
Understandable, I was just saying your statement as an absolute (non-bank SBA lenders do, bank SBA programs don't) wasn't accurate and that taking personal property (real estate, typically) is fairly common. Whether a particular lender will settle for _only_ taking personal property as primary collateral on a given deal would be up to their own policies and judgement call. But I've funded SBA deals at a large regional bank with a primary residence as primary collateral, so from firsthand experience it definitely occurs.