SBA Loan

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What's Closing - SBA Loans!

Yes, SBA loans are taking longer than they used to, and yes, they are a lot of documentation, but they are a CRITICAL piece of liquidity in this market. I had a loan that could not go SBA because the type of business was exempt. It had strong borrowers, buying a strong business, with good credit, willing to put 25% down, BUT there was no real estate collateral. The borrowers did not have equity in homes that could be lined. There was no collateral in the business, it was a simple business-only transaction. EVEN though it was an existing business, and EVEN though it was strong, and EVEN though the borrower had a great experience, credit, and outside income, NO BANK wanted to touch it conventionally. None. Over 20 banks denied them. I can get a start-up business done with no problem SBA with less money down and have multiple lenders looking at it. Unless you have collateral, SBA is the best way to go for business-only transactions. Period. Even with COVID restrictions lifted, no one wanted to touch that business without collateral. It was eye-opening to me. Below are THREE (3) recent closings, all SBA. All Startups or new expansion. All done with less money down than the example above. WE CAN GET SBA LOANS CLOSED FOR YOU, We will help with the paperwork, it is a GREAT option to actually getting the money you need for a start-up or expansion of a business.

$356,000 Purchase of medical building and FF & E for the second location.

Location: Georgia

The borrower had an existing medical practice and wanted to buy a building and get furniture, fixtures, and Equipment, (FF &E), and working capital for a second location. We did the loan at $320,000-90% of the total cost. Actually, the purchase price of the building was $300,000 so we loaned her more than the purchase price! The deal came to me from the selling agent who knew me from other closings. Apparently, the borrower got denied by another bank and the seller's agent suggested me. We got it done, and the Realtors got paid. I am not even sure why it got denied at the other bank as the deal was not that bad, I get a lot worse done. But hey, I will take it. CERTAINTY OF EXECUTION at the same rate as the other guys...that is why you should choose us! Just saying.

$290,000 Healthcare Start-up Franchise

Location: California

A franchise start-up of a unique healthcare type franchise where the borrower had NO collateral. As discussed before, with no collateral even an existing cash-flowing business will struggle but we were able to get this start-up done with no collateral. We can go up to $5,000,000 with NO COLLATERAL on SBA loans. Most lenders are capped at $500,000 for business only without collateral but we can go to $5 Million as long as the numbers work. We are the SBA specialists...give us a call.

$249,000 Franchise Start-Up

Location: Florida

The borrower wanted to open an America's Swimming Pool Franchise. It was a start-up loan. The loan included working capital, supplies, inventory-everything he needed to be successful. On this one, we were able to do it with just 15% down. That is good on a start-up. The borrower had no experience in the field. With many lenders that can be problematic but we can do no experience on franchises as long as they have good credit, outside income, etc. WHAT MAKES US UNIQUE IS MY PROCESS- What I do is look at the strength of each borrower and match it with the lender that looks most favorably at that strength. For example, some lenders key on experience. Some on credit, some on collateral. I take the biggest strength of each borrower and match it with the lender that most favors that strength. There is no way the average borrower can know which lender is perfect for their strength-these things are not advertised. I know from sending hundreds of loans to lenders who likes what and I can match the borrower with the lender best suited to them in the marketplace. The rate is the same! It just takes the guesswork out of the equation.

If you need to close fast on your SBA or conventional loan, give me a call at 512-358-1511 today or get started by filling out this form! 

Karen Schimpf 

(512) 358-1511

karen@applycommercialloans.com 

www.ApplyCommercialLoans.com      

Give me a CALL TODAY at 512-358-1511 or get started by filling out this form!