[Incbiz440]

Banks with broker programs that will do SBA term loans are everywhere, but I haven't come across any that offer ABA UCC-secured lines (SBA or not). For example, low dollar SBA Express lines.

Anyone familiar with any banks that offer that?

Thanks in advance.

[CJO1988]

I have been using SmartBiz and National Corporate Credit to get all of my SBA express lines done.


Chris Oliveto
Owner
Bullhammer Business Solutions LLC
Coliveto@bullhammer.org
631-579-8628

[Olderguy]

He's a broker that does it with local banks.

Tom is giving me great service (LOC) with a client and does truckers and auto dealers.

Tom McCauley
Lexington Capital Holdings
tom@lexingtoncapitalholdings.com
516.426.5391

[Incbiz440]

I have been using SmartBiz and National Corporate Credit to get all of my SBA express lines done.


Chris Oliveto
Owner
Bullhammer Business Solutions LLC
Coliveto@bullhammer.org
631-579-8628

Thought Smartbiz only offered SBA terms. Not counting the bank LOC they offer that's a little on the pricier side.

[Incbiz440]

He's a broker that does it with local banks.

Tom is giving me great service (LOC) with a client and does truckers and auto dealers.

Tom McCauley
Lexington Capital Holdings
tom@lexingtoncapitalholdings.com
516.426.5391

Thanks for the info. Was thinking a bank direct option - are they billing the client a PSF or do they have something "official" with a/some bank(s)?

[Olderguy]

Thanks for the info. Was thinking a bank direct option - are they billing the client a PSF or do they have something "official" with a/some bank(s)?

They don't have one bank do LOC's all over...they use several banks and charge a success fee.

They send out a 10-15% success fee after the client received their financing.

They offer a 30% commission split, and yes the lines of credit are forever revolving.

[Incbiz440]

They don't have one bank do LOC's all over...they use several banks and charge a success fee.

They send out a 10-15% success fee after the client received their financing.

They offer a 30% commission split, and yes the lines of credit are forever revolving.

I was looking for something that isn't billing a PSF directly for. There's no shortage of community banks and can do the same without sharing the fee with some random broker somewhere, but it's a turnoff for a lot of clients. Would rather find somewhere that pays a broker/referral fee on the backend. Its an optics thing.

[Olderguy]

SmartBiz...

[Incbiz440]

SmartBiz...

Apologies, I should have said I was aware of Smartbiz, although they tack on so many fees it takes the appeal down - basically I don't have a broker channel line for bankable clients. I'm just surprised that as easy as it is to do express lines that I haven't run into any banks with broker programs that seem to offer it. I assume there's a logistical reason for that; perhaps dealing with dealing with a product that doesn't disburse up front. No idea.

I should also throw out Lendistry although their line is non-revolving and their comp schedule is extremely modest.

[Yankeeman07]

Apologies, I should have said I was aware of Smartbiz, although they tack on so many fees it takes the appeal down - basically I don't have a broker channel line for bankable clients. I'm just surprised that as easy as it is to do express lines that I haven't run into any banks with broker programs that seem to offer it. I assume there's a logistical reason for that; perhaps dealing with dealing with a product that doesn't disburse up front. No idea.

I should also throw out Lendistry although their line is non-revolving and their comp schedule is extremely modest.

My suggestion is to pick up the phone and start talking to different lenders - Scotsman Guide has many resources, make your own connection
with whomever will provide what you are seeking. Going 3rd party on a forum will not cut it.

You know best what you are seeking, start dialing and make those direct connection(s) you are wanting.