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Best SBA FM podcasts we could find (updated November 2019)
Best SBA FM podcasts we could find
Updated November 2019
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SBA FM is hosted by Ryan Smith, Principal and Founder of ThinkSBA, with the goal of equipping business owners and entrepreneurs to make sound business decisions and avoid predatory lenders by providing valuable and insightful information related to small business SBA guaranteed loans.Each episode is approximately one minute in length and addresses topics related specifically to SBA 7(a) and 504 programs to purchase real estate, acquire a business or franchise and obtain working capital.Think ...
 
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The answer is no, not all SBA lenders are created equal. That’s because each lender applies the Small Business Administration’s Standard Operating Procedures manual, also referred to as the SOP, differently. For example, some lenders have developed internal lending policies that are more stringent than the SOP. These lenders favor prime borrowe ...…
 
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 its name implies, a multi-purpose property is commercial real estate comprised of improved land with a building that has multiple purposes or uses as opposed to buildings that have a single-purpose o use.The primary determining factor whether a property is considered multi-purpose has to do with the design of the building and not the activit ...…
 
As its name implies, a single-purpose property is commercial real estate comprised of improved land with a building that has a single purpose or use as opposed to a building that has a multi-purpose or use.The primary determining factor whether a property is considered single-purpose has to do with the design of the building and not the activit ...…
 
Do I Need To Personally Guarantee An SBA Guaranteed Loan?The answer is yes, let me explain.It’s important to understand that the applicant or borrower is the business, not the individual owners of the business.Therefore, the business is primarily responsible to pay back the loan which is why this repayment source is referred to as the primary s ...…
 
Not every individual obtaining an SBA guaranteed loan is required to offer their personal residence or any other real estate owned as collateral.However, banks, credit unions and non-bank lenders are required by the SBA’s Standard Operating Procedure manual to take the applicants personal residence or other real estate owned as additional colla ...…
 
The SBA 504 guaranteed loan program to purchase commercial real estate is comprised of two loans. One provided by an SBA Preferred Lending Partner and another by an SBA Community Development Corporation (CDC).SBA Guaranteed 504 real estate loan rates on the second portion also referred to as the Debenture are fixed based on the 5 year and 10 ye ...…
 
One of the first questions business owners ask when applying for a loan is what is the interest rate. In this episode of SBA FM you will learn how SBA 7(a) guaranteed loan interest rates are determined and what to expect in your own situation.SBA 7(a) guaranteed loan interest rates are determined by three factors: the SBA Standard Operating Pro ...…
 
Yes, E-2 non-immigrant visa holders are eligible to obtain an SBA guaranteed loan to acquire a business. However, there are several specific eligibility tests that must be met by management for the applicant business to be considered eligible.Number 1. The Application must contain assurance that management is expected to continue in place indef ...…
 
The SBA requires eligible borrowers to possess reasonable personal liquidity; such as cash, marketable securities or cash value of life insurance to inject the minimum equity percentage into the financing package.SBA 7(a) loan requests to purchase a business or franchise, buy out a partner, start up or expand a business or to obtain working cap ...…
 
The SBA 7(a) guaranteed loan program to purchase or refinance commercial real estate is comprised of one loan provided by an SBA Preferred Lending Partner which means more flexibility in determining eligibility and qualifying loan applicants.Generally, multi-purpose properties may be financed up to 90% loan to value while special purpose proper ...…
 
The SBA 504 guaranteed loan program to purchase commercial real estate is comprised of two loans. One provided by an SBA Preferred Lending Partner and another by an SBA Community Development Corporation (CDC).Generally, multi-purpose properties may be financed up to 90% loan to value while special purpose properties may be financed up to 85% lo ...…
 
Yes you do. Financial projections provide potential lenders the information they require to make an informed decision regarding the future financial success of your new venture.You need to know these three things to ensure your financial projections are acceptable to the lender.First, your financial projections must span a minimum of 3-5 years.…
 
The simple answer is yes you do. The purpose of the business plan is twofold. Number one, it demonstrates to potential lenders your fitness as a business owner and entrepreneur to develop and execute a winning business strategy.Number two, it provides these same lenders the information they require to make an informed credit decision regarding ...…
 
The answer to this question is yes and no. The reason why it isn’t black and white is because it largely depends on a few variables. So let me bring some clarity to this question.If you are requesting a working capital loan less than $350,000 then it’s likely tangible personal or real property, or in other words collateral, is not required. How ...…
 
The SBA, or Small Business Administration, is a Federal Government Guarantee Program that incentivizes banks to make loans to businesses who would otherwise not qualify for various reasons, such as, lack of time in business, experience or personal liquidity, or poor credit history etc.The SBA incentivizes partners banks by guaranteeing between ...…
 
There are many factors that determine how long it takes to apply for and close a loan. These factors include the experience and competence of your banker, the banks loan pipeline density at the time of your application, sufficient staffing levels, the banks internal processes including whether the bank uses automation efficiencies where possibl ...…
 
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