[Yankeeman07]

In your opinion who are the best providers when using Land, Commercial, Residential collateral?

Already using Lift forward and Patch of Land.

$>$350K up to $5 Million - Prime + 2.75% for SBA 7(a) Loans
SBA is paying 1st 6 months of payments on all loans fully disbursed by 09/27/2020
Maximum Loan Terms - 10- to 25 years
Maximum LTV - 90% to Project Cost

[WCC_NYC]

$>$350K up to $5 Million - Prime + 2.75% for SBA 7(a) Loans
SBA is paying 1st 6 months of payments on all loans fully disbursed by 09/27/2020
Maximum Loan Terms - 10- to 25 years
Maximum LTV - 90% to Project Cost

Yankeeman07 thank you for the response. We do like using the SBA rates and terms that are very advantageous. What we have done is use a direct bank in each state that provides the SBA service through the list of credited vendors list from the SBA https://www.sba.gov/partners/lenders...m/list-lenders as appose to platforms. It is a little bit more work having to make sure we have the necessary paperwork and also create that relationship. This helps us reduce overhead/middlemen costs having built this process as appose to using a platform. Do you feel this is the correct path? If not what do you feel is a better solution for brokers?

Full Transparency we do charge a success fee agreement to administer these products for our merchants that makes it worth our time. In your opinion what is a respectable success fee?

[Yankeeman07]

Yankeeman07 thank you for the response. We do like using the SBA rates and terms that are very advantageous. What we have done is use a direct bank in each state that provides the SBA service through the list of credited vendors list from the SBA https://www.sba.gov/partners/lenders...m/list-lenders as appose to platforms. It is a little bit more work having to make sure we have the necessary paperwork and also create that relationship. This helps us reduce overhead/middlemen costs having built this process as appose to using a platform. Do you feel this is the correct path? If not what do you feel is a better solution for brokers?

Full Transparency we do charge a success fee agreement to administer these products for our merchants that makes it worth our time. In your opinion what is a respectable success fee?

Why not use 1 SBA Bank / B&I that can close loans in nearly all States?

I'm not here to tell you how to run your operation, but, I do not think this would pass muster with the SBA
I understand commissions are not very high doing SBA Loans - but that is the rules of the game.

SBA is not charging double digit rates.

Call me if you wish to discuss - 727-233-1111


"Full Transparency we do charge a success fee agreement to administer these products for our merchants that makes it worth our time. In your opinion what is a respectable success fee?"