[PJLamar38]

What is the best way to help my client secure SBA financing. I'm coming into this more and more - I searched but the term SBA is so generalized it yielded no results. I play by the rules my friends.

This particular SBA candidate is a Busy Restaurant doing over 250k in deposits, strong time in business, VERY strong FICO...
Reply here or feel free to message me - I'd prefer to work with a direct lending source whenever possible, Broker to Broker to Broker is a young man's game.

Hope everybody made a few dollars this week.

Appreciate it,
Peter Lamar

[sigmundpannu]

Fico and cash flow are just a very little bit of the equation. Try smart Biz. You need financials etc to see the whole picture of profitability.

[HDF]

Well you came to right place. When it comes to non-bank lending, this is where it's at.

[FUNd]

VERY strong FICO...

Make it stop!

[VFG]

Your client will need:

3 years of financial statements
3 years of corporate returns
Well put together personal financial statement
Well put together resume & executive summary
Bank statements (3-4 months)
Projections (3 years)
If the owner holds any real estate personally with equity, he needs to understand that depending on the bank they will first take a second position on the property they own personally and SBA will guarantee the remaining portion up to 75-90% of the loan.

If you are brokering the deal, i think the max you can charge as an intermediary is 3% as per SBA standards (you may want to confirm the exact percentage).

Happy to help.

[VFG]

Forgot to add. If they are buying real estate as part of the loan i think itll be structured as a 504 so you will need to reach out to a SBA approved debenture who will package the loan for you ad they finance part of the loan.

[omegafund]

Celtic Bank is a good source for SBA. But all depends on the deal.

[Matty Ice]

in regards to SBA Loans Has Anybody herd of US Capital Partners.. if so any feedback would be great on them.

[VFG]

Great guys! They are an investment banking firm. Charles townsend is their main guy.

[bdshaw]

What is the best way to help my client secure SBA financing. I'm coming into this more and more - I searched but the term SBA is so generalized it yielded no results. I play by the rules my friends.

This particular SBA candidate is a Busy Restaurant doing over 250k in deposits, strong time in business, VERY strong FICO...
Reply here or feel free to message me - I'd prefer to work with a direct lending source whenever possible, Broker to Broker to Broker is a young man's game.

Hope everybody made a few dollars this week.

Appreciate it,
Peter Lamar

If your loans are under 350K I can point you to whoi I think is the best lender for that marketplace.
Just send me your contact information
Bob

[fisheMS]

celtic, southend

[RichardGerard]

The right source will depend on the loan amount and the collateral. Is it an SBA Express or simply a 7a (which is why folks on the thread have mentioned amounts up to 350k or under)?

The FICO Score should be above 650- however can be below that on a straight 7a if the collateral is strong. Bear in mind: if inventory is the only collateral the SBA dilutes value considerably. Loan amounts can be up to 1.5M without Real Estate and up to 10M with Real Estate involved.

Several Banks do them.. We package, Broker, and place between 3-5 per month. Understanding the DSCR, the clients credit history, and the requisite collateral goes a long way towards funding.

Lastly: fully understand what you are allowed to charge your borrower as a 'consulting' fee. The Government has requirements that limit that as the borrower is already being charged a percentage for the SBA Guarantee..

[Older Guy]

We can do SBA 7A equivalent. 650 Fico fund in 3 weeks. 2 years business tax returns, 1 year personal tax returns, loan app, 6 months business bank statements, 4 months credit card statements.

[fisheMS]

"equivalent" smh

[Older Guy]

Well should be SMC.+

[bdshaw]

Older guy I hope your tests went well.
I can't speak for anyone else but I'm interested in trying your almost sba loan out.
All i,need to convince me is the contact information for three broker/iso's who have successfully worked with you.
You may send the information to me and I will keep their names confidential.
I need to overcome the idea that no one in your organization knows your underwriting policy.
If you can show me the loans work......I'm in.
Bob

[Older Guy]

Send me one deal and see if you like the offer...most/all of our brokers sell revenue based loans and I sell more term loans than anyone....because I sell the product the client needs, not what makes the most money. I'm the floor/office manager...I deal with all the reps here (I close for them) and I deal with some of the outside reps. The owner deals with all the brokers.

[bdshaw]

To be frank, you're doing the selling here and you are asking that I put my client at risk and can't even giving me a few references. The logical conclusion is you don't have any.
Older Guy, and I assume you're younger than me......
you are beginning to sound like a phony. Maybe I'm wrong. Richard would you please put your clients at risk and report back to me?
Bob

[Older Guy]

I can give you some satisfied clients. I am the only one selling the SBA. Call my office.

[FUNd]

^this guy is a fraud and a clown, don't send him a thing.

[bdshaw]

Older guy, I'm sorry I just saw your comment about the owner. You have my email address please ask the owner to contact me so I can discuss the references I requested.
Thanks, Bob

[Older Guy]

Bob...your email came back...I sent you a PM.

Call my office and I'll set up a call.

[AmyCRiddle1212]

Good Afternoon,

I work for a direct merchant lender, JD Merchant Capital, LLC, where we offer SBA Loans, Cash Buyout Programs, and extend Lines of Credit. I saw our request for funding and I would like to extend my services in helping you to secure the loan you looking for.

We can offer Long/Short Term Loan options with interest rates as low as 6%.

I believe I can get your client funded within the week. Please feel to contact me directly at (860) 906-1302 or via email, at Amy.JDmerchantcapital@outlook.com

I look forward to hearing from you and getting started on crafting a custom package that will benefit our client.

Sincerely,

Amy C. Riddle

[FUNd]

Good Afternoon,

I work for a direct merchant lender, JD Merchant Capital, LLC, where we offer SBA Loans, Cash Buyout Programs, and extend Lines of Credit. I saw our request for funding and I would like to extend my services in helping you to secure the loan you looking for.

We can offer Long/Short Term Loan options with interest rates as low as 6%.

I believe I can get your client funded within the week. Please feel to contact me directly at (860) 906-1302 or via email, at Amy.JDmerchantcapital@outlook.com

I look forward to hearing from you and getting started on crafting a custom package that will benefit our client.

Sincerely,

Amy C. Riddle

I hope you choke.

[J.Celifarco]

please go away with the outlook email and the spamming every thread.. GO AWAY AND PLEASE NEVER COME BACK