Results 1 to 5 of 5
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01-25-2023, 07:11 PM #1
Reputation points: 1149
- Join Date
- Oct 2021
- Posts
- 50
Sba lender needed
I need a REPUTABLE lender that does SBA.
Please advise if you or you know anyone that does.
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01-25-2023, 07:30 PM #2
Reach out...I can probably help you....sounds like you have a problem....
May not be the lender....
https://dailyfunder.com/showthread.php/23880-Sba-7aLast edited by Olderguy; 01-25-2023 at 08:46 PM.
Steve Benjamin
Professional Business Loans
1012 Contessa
Irvine, CA 92620
steveprobiz@gmail.com
https://probizloans.net/
Broker, Underwriter, general business loan expert
949.228.1050
@ 24 hour funding working capital loans
@ Term loans from 3 years to 10 years at 9.5% and up
@ Equipment financing up to 7 years
@ Property loans - Hard Money and traditional - Primary, Investment, commercial, land, fix and flip, construction.
@ SBA loans - 7A and 504.
@ Private money equity and debt for major investments
@ Personal Loans up to gross income from personal tax return.
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01-26-2023, 03:43 PM #3
Reputation points: 81657
- Join Date
- Mar 2014
- Location
- Florida
- Posts
- 2,876
Dave Lambert, Business Development
dave@fcbankcard.com
Merchant Services Consultant
High Risk Merchant Payment Solutions
SBA 7(a) Loans & Short-Term Funding
T/VM: 727-291-7890
Office: 727-233-1111
Skype: fc-financial
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01-26-2023, 04:55 PM #4
Reputation points: 5611
- Join Date
- Jan 2022
- Posts
- 42
Direct SBA lender here, top ten nationally ranked. Don't waste time with a broker chain, go direct to the source.
Dan WallaceSVPEnterprise BankNational, direct SBA lenderFast and creative financing solutions970-390-6650dwallace@enterprisebank.com
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01-30-2023, 12:47 PM #5
I'd like to highlight some differences in SBA loans and lenders. Most of you have experience with SBA banks. However you should start looking into non-bank lenders for your SBA loans. Non bank SBA lenders are more flexible in their underwriting.
Non-Bank Lenders
An SBA non-bank lender is a financial institution that does not accept customer deposits. Their sole reason for existing is to lend money to eligible small businesses in their community.
On the other hand, a bank is a financial institution that solicits monetary deposits from their customers and in turn loans these funds to other customers such as individuals and businesses seeking capital for a variety of reasons including starting or expanding a business.
Banks solicit deposits from their customers for two reasons: Number one to meet the Federal Reserve’s capital reserve requirements to ensure satisfactory liquidity levels and number two because deposited funds in a demand deposit account, or what is commonly referred to as a checking account, are the lowest cost of funds.
Government Regulation
Due to increased government regulatory oversight it is typically more difficult to qualify for a small business loan from a traditional bank than it is from an SBA non-bank lender.
Therefore, seeking capital from an SBA non-bank lender may be to your advantage due to the fact that non-bank lenders typically possess less stringent underwriting guidelines and do not require you to move your deposit relationship to them; which is time consuming and sometimes undesirable if you particularly like your depository institution.
A non bank SBA lender will allow you to collateralize business and personal assets. A SBA bank will need to collateralize commercial property.
Some examples I've seen and done. I got a guy in Hawaii $350,000 SBA 7A putting a third UCC on his primary residence for collateral as he leased his office and warehouse.
I saw a company get a $2M SBA loan collateralizing all of their $10M equipment in Brazil.
Typically a SBA bank might require 3 years management experience in buying a business where I've seen a non bank lender require only one year experience.
I have approvals require collateralize all of a clients vehicles. I was able to go back to the credit committee/underwriting and have them release the requirement for liens on the vehicles and maintain the same approval.
I have done a lot of these loans and many brokers have reached out to me with their frustration doing SBA loans. Yes you do need to do some financial analysis when reviewing the package. And it helps to have the merhant connect you with their accountant or bookkeeper for documentation needed.
Reach out if you have questions on these types of loans.Steve Benjamin
Professional Business Loans
1012 Contessa
Irvine, CA 92620
steveprobiz@gmail.com
https://probizloans.net/
Broker, Underwriter, general business loan expert
949.228.1050
@ 24 hour funding working capital loans
@ Term loans from 3 years to 10 years at 9.5% and up
@ Equipment financing up to 7 years
@ Property loans - Hard Money and traditional - Primary, Investment, commercial, land, fix and flip, construction.
@ SBA loans - 7A and 504.
@ Private money equity and debt for major investments
@ Personal Loans up to gross income from personal tax return.
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