[thegoodbroker99]

Does anyone have a contaxt at Newtekone or a similar SBA company that works with IsOs? Not looking for a co-broker. Thanks in advance

[Yankeeman07]

Does anyone have a contaxt at Newtekone or a similar SBA company that works with IsOs? Not looking for a co-broker. Thanks in advance

I'm assuming you are referring to - https://www.newtekone.com/contact/

Their are numerous Banks and Non-Bank Lenders that offer SBA Loans - you have to make connections yourself - start with Scotsmans Guide
and the SBA web site. Since you are not looking to Co-Broker - you have the necessary knowledge of packaging SBA Loans?

[Olderguy]

I've posted this before....if you haven't done SBA loans before you are probably not prepared to handle them directly with a degree of success as there are several non bank SBA lenders I use (more than 6) and each has a certain niche - and level of service.

As a point of reference I used to do a lot of SBA loans through NewTek but have stopped using them as their service levels have deterioriated to the point where their response level is unacceptable.

And (lenders) guidelines change all the time. They get different credit managers, they start having high defauilt rates in a category (truckers) for example, they determine they won't do certain industries, etc.

If you want to start small, you might consider SmartBiz up to $500,000. They can qualify your merchant for LOC, Term Loans and SBA from the same portal. Credit Bench for Bolt.

In addition they pay different commissions...some pay 1 or 2 brokers points and 1 or 2 referral points. Some only pay referral points and you have to put broker points as a separate psf at closing. The referral points also vary by lender.

The time cost vs. the financial benefit makes pursuing this not very feasible...when you could spend that time doing a bunch of MCA deals...which bring more money with less effort. A reason a lot of broker just send me the file and I get involved handling it

But then again if you want to learn that's your choice.

[NickHubbard]

Does anyone have a contaxt at Newtekone or a similar SBA company that works with IsOs? Not looking for a co-broker. Thanks in advance

https://bayfirstfinancial.com/creditbench

https://www.liveoakbank.com/business-loans/sba-loans/

https://www.celticbank.com/

[AlSuede]

www.lendistry.com

[Yankeeman07]

www.lendistry.com

This is BS - I wish SBA Loans were completed in 5 days:

SBA 7(a) loans offered by Lendistry are a flexible lending option designed to provide new and established small businesses with access to affordable capital.
Funding as soon as 5 business days

[CRElender]

Direct, National SBA Lender. Top 20 National SBA lender who specializes in Commercial Real Estate secured deals. We can provide an approval as fast as 7 days and closings in 30 days.

We deal with all SBA-eligible property types and we pay referral fees!

Top-Loan-Originator-SBA-Social-Graphic 2.jpg

[Ehenek]

NEWTEK Sucks lol! What are you looking for?

[AlSuede]

This is BS - I wish SBA Loans were completed in 5 days:

SBA 7(a) loans offered by Lendistry are a flexible lending option designed to provide new and established small businesses with access to affordable capital.
Funding as soon as 5 business days

We're not an SBA lender only. We have conventional loans that are non sba and still term loans that could fund in 5 business days. 5yr terms 15-20% apr pg required and 680 credit. Equipment financing, inventory purchase. We also offer CRE programs for investor and non profits.

[Yankeeman07]

We're not an SBA lender only. We have conventional loans that are non sba and still term loans that could fund in 5 business days. 5yr terms 15-20% apr pg required and 680 credit. Equipment financing, inventory purchase. We also offer CRE programs for investor and non profits.

Consider editing your web site?

Business Growth

SBA 7(a) loans offered by Lendistry are a flexible lending option designed to provide new and established small businesses with access to affordable capital.

Funding as soon as 5 business days
Loan amounts starting at $25,000
Longer term and amortization options

Lendistry | SBA Loans

[Incbiz440]

Consider editing your web site?

Business Growth

SBA 7(a) loans offered by Lendistry are a flexible lending option designed to provide new and established small businesses with access to affordable capital.

Funding as soon as 5 business days
Loan amounts starting at $25,000
Longer term and amortization options

Lendistry | SBA Loans

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I do agree that particular page of their website is not 100% clear that they are referring to more than just SBA programs.

[seanedeska]

More importantly, what bank is currently paying 2% or more in referral fees?

[Olderguy]

More importantly, what bank is currently paying 2% or more in referral fees?

Actually that's not the point....depends on which lender will fund the deal and what the best referral fee from that lender. The referral fee can vary depending on the interest rate the borrower pays. And higher volume gets higher referral fees. You don't make a decision on whio pays the highest referral fee...it's which lender can get the deal done based on the scenario....and yes you do want to see if the highest referral fee lender can do it.

SBA 7(a) REFERRAL PROGRAM REFERRAL COMPENSATION PAID TO REFERRAL SOURCES

LOAN SIZE: $350,000 - $5,000,000 GROSS RATE PRIME + 3.00 PRIME + 2.75 PRIME + 2.50 PRIME + 2.25 25-YEAR AMTZ. 2.00% 1.75% 10-YR AMTZ. 1.50% 1.25%
LOAN SIZE: $200,000 - $350,000 PRIME + 3.00 1.75% 1.50% 1.25% 1.00% 1.25%
LOAN SIZE: $25,000 - $199,999 Coming Soon PRIME + 2.00 1.00% 0.75% *

Call/email for referral compensation on other amortizations.
Contact us directly on smaller loans for rate/pricing.

ANNUAL 7(a) FUNDED VOLUME BONUS PER AMORTIZATION 25-YEAR AMORTIZATION:
>$5 MILLION >$10 MILLION Bonus of 50 bps on next tier Bonus of 100 bps on next tier
>$15 MILLION Bonus of 150 bps on next tier All rates are variable, adjusted quarterly. 10-YEAR AMORTIZATION: >$5 MILLION >$10 MILLION Bonus of 50 bps on next tier Bonus of 75 bps on next tier
>$15 MILLION Bonus of 100 bps on next tier

[Incbiz440]

More importantly, what bank is currently paying 2% or more in referral fees?

Volume is the key there, although there are a couple of options that pay 2% out of the gate. That's the max I've seen on SBA deals without a volume based agreement. And even a lot with volume seem to be starting at 1 and bumping up incrementally to where volume is only bumping in quarters.

[Steven_O]

2% is the best you're going to get. 4% on microloans (under $50k).

[CRElender]

As a direct SBA lender, the only way you get a 2% referral on a deal is if the SBA lender charges maximum pricing. Most SBA lenders sell their SBA guarantees to generate revenue. The larger the rate, the more the premium. Our group pays a typical 1% fee but our pricing to the client is much better. You will lose more deals trying to get a 2% referral fee due to the lender's interest rate being so high. Rather, be more competitive with interest rates and not lose deals.
As a borrower would you rather be paying WSJ Prime + 3% or WSJ Prime + 1.0% (or lower)?