Fast SBA Loan Approval

About two weeks ago, I received a phone call from a banker who had declined an SBA loan request. The prospective borrower was working with a consultant who had been struggling for eight months to get the deal approved.

I got an SBA loan approval from a different banker in less than a week.

How? I told the story the right way to the right set of ears.

Here are the key facts that needed to be highlighted for the SBA lender:

• While a start-up, the owner had extensive experience in the field.
• The owner had injected equity of more than 20% of the total project cost.
• Once I reformatted the pro-formas, it became clear that the new business could service the debt from cash flow.
• There were strong secondary and tertiary sources of repayment including equity in real estate.

It's been said that the definition of insanity is repeating the same action and expecting different results. If your SBA loan request is dragging for more than three weeks (please don't wait eight months), there is a strong likelihood your request is going to be denied.

Simply taking it to another lender without knowing if you're telling the story the right way to the right lender is a perfect example of insanity.

Pick up the phone and call me at 310-371-4011. I can probably tell you in a short phone call the odds of getting an approval. I can pre-screen your deal with an SBA lender on a "no-names" basis in as little as a couple of hours. There's no cost and no obligation.

Need help finding the right lender or telling your story the right way? Read "Matchmaking for Business Loans" and give me a call!

Tags : SBA , Patriot Express , 7a loan , 504 loan , working capital , business loan , small business