[PuttingTheFunInFunding]

Good afternoon,

Who are some reputable term loan/SBA lenders that are onboarding ISOs?

I've contacted Funding Circle, wasn't sure if they were still accepting anyone, as I heard they had stopped accepting new business in the U.S. but see on their website they do have a contact page to fill out, which I've done.

Outside of that, I was told about Salaryo, although it is newer in the space from what I understand and don't know anyone that works/has worked with them.

For SBA loans, I have no clue who does/doesn't accept submissions and what they pay, but I do have clients that would fit the mold for virtually all these products.

The clients in my database are in the millions in revenue, have decades TIB and typically accept bank rate type products, so looking for what may be out there to assist.

Appreciate any and all responses!

[Olderguy]

If you want help with SBA loans reach out as I have several SBA lenders and they have different guidelines and commissions. I have posted this before - if you haven't done these before I don't recommend you try and go direct. I split commissions 50% and have some that allow 2% broker fee and 2% referral fee. I have one bank I use that has funded 25 days from submission.

Term loans - SmartBiz has a couple of companies they hook up with - Tab Bank for one.
If your file looks like it might qualify for less than $500,000 and uncollateralized, you might want to reach out to SmartBiz and try yourself....they just don't pay as much.

Here's the package I like to see:

Start with a basic loan application

Just click on this link below and complete the application:

https://app.hellosign.com/s/JljnpJWp


1. 2023 year end P & L and balance sheet, 2024 YTD
2. 2 years business tax returns
3 2 years personal tax returns
4 Schedule of liabilities form 2202
5 Use of funds summary
6. Fico scores
7. 6 months business bank statements
8. A/P
9. A/R aging
10. Real estate assets

How many W-2 employees do you have?
Do you own or rent your primary residence
What is your monthly payment?

Forms below:

https://drive.google.com/file/d/15Mg...usp=drive_link

https://drive.google.com/file/d/14zz...usp=drive_link

https://docs.google.com/spreadsheets...f=true&sd=true

[Incbiz440]

Good afternoon,

Who are some reputable term loan/SBA lenders that are onboarding ISOs?

I've contacted Funding Circle, wasn't sure if they were still accepting anyone, as I heard they had stopped accepting new business in the U.S. but see on their website they do have a contact page to fill out, which I've done.

Outside of that, I was told about Salaryo, although it is newer in the space from what I understand and don't know anyone that works/has worked with them.

For SBA loans, I have no clue who does/doesn't accept submissions and what they pay, but I do have clients that would fit the mold for virtually all these products.

The clients in my database are in the millions in revenue, have decades TIB and typically accept bank rate type products, so looking for what may be out there to assist.

Appreciate any and all responses!

When it comes right down to it, there are a ton of banks and non-bank lenders that will pay for brokered deals. Most of them don't directly advertise it, you have to ask. Some have a national footprint, others regional or local.

Most pay 1-2%, with potential for bumps in volume (volume being funding over a million or more).

Smartbiz leverages a number of different banks if you want to have a middle man involved
CreditBench/BayFirst was and I assume still is still aggressive for brokers
Celtic
TAB
Huntington
Newtek
Lendistry

Those all lend nationally or have a large regional footprint.

There are a bunch of other smaller ones like
First National Bank in Indiana
M&F Bank in North Carolina
United Midwest Savings in Ohio
Shoreham Bank in Rhode Island
Cadence Bank in Texas

I'd say the most common default bank-paid broker fee is 1%. If you can pull down 2% you're doing good.

If you work in a specific region I'd try calling or emailing around and you'll likely find some that pay direct.

Funding Circle just sold their US business and relinquished their SBA license so unless you're planning on brokering in the UK that's done.

As for non-SBA terms the options that I've found are so-so, the requirements are nearly as high as SBA but the terms are worse, rates in the teens-20s or higher and you're maxing out at 5 years, 3 years, sometimes less. Benefit is they're typically faster. Smartbiz has a bank term loan (I forget which bank), Salaryo is one, Fundation, Breakout, Wing Lake for larger deals, and some others. Once you subtract out SBA being a requirement you may do better collecting a PSF and shopping for the client instead where you potentially can find them and a better deal even when paying you a fee out of pocket. And you'll probably make more money.

[Zonefund]

Good afternoon,

Who are some reputable term loan/SBA lenders that are onboarding ISOs?

I've contacted Funding Circle, wasn't sure if they were still accepting anyone, as I heard they had stopped accepting new business in the U.S. but see on their website they do have a contact page to fill out, which I've done.

Outside of that, I was told about Salaryo, although it is newer in the space from what I understand and don't know anyone that works/has worked with them.

For SBA loans, I have no clue who does/doesn't accept submissions and what they pay, but I do have clients that would fit the mold for virtually all these products.

The clients in my database are in the millions in revenue, have decades TIB and typically accept bank rate type products, so looking for what may be out there to assist.

Appreciate any and all responses!

If you have a client base that large, I suggest you partner initially with folks to help you. You could make a lot of $$. Micah at abfunders is a good source for bank financing (biz loans loc's etc). Steve benjamin is a good source for real estate and sbas. I've never heard anyone post about Elon henek and having deals funded through him, nor what he pays as a %, but Micah and Steve should be able to make a lot of $ with you. I

[Olderguy]

Here some some things to look at when prequalifying...

Take their gross revenue on the P & L.

Look as see if they have separated officer's salaries from salaries on their P & L, if not have them go back and do that.
Take Officer's salaries
Look at depreciation
Look at interest expense.

Take those three - officer's salaries, depreciation and interest expense and add to the net income. That's gives you some indication if they are making money. I've had some files where they show a loss but pulling out those three make's it positive and been able to submit.

Then you should know the Fico score. The lender will tell your their etran business score.

That will tell you what program you might have this client qualified.

The lender can do a basic prequal based on the income as designated above, etran, fico, cash flow and debt service.

I have a good relationship with some lenders who will come back to me and say "get them to pay this down on their credit card, raise their Fico and we should be good to go".

If they haven't done their 2023 taxes, I can have a lender review their file with me and tell me "Have them file their taxes and then we can submit - looks good".

Some SBA lenders will only take out 2 MCA's to a max of $250,000. A couple have no limits. And their guidelines change all the time.

[Incbiz440]

+ Amortization, bb.

[Olderguy]

+ Amortization, bb.

..those three are the easiest to do...