I’m Four Months Into a 1031 Exchange—Now It’s All About Finding the Best Deal in the Haystack
We are less than a month away from listing our Brooklyn, New York condo, which we bought for $375,000 back in 2004, the same week we got married. 20 years, two […]
Seven Reasons Why the Housing Market STILL Hasn’t Recovered From the Pandemic
The pandemic swept through the U.S. housing market like a tsunami. Radical price hikes and all-time low inventory accompanied massive migration away from pricey big cities. Four years later, the […]
What to Do When the SBA Loan Denies Your Business Application?
Many people get denied on SBA loans and believe that denial means they got shot down by the SBA. The reality is the bank turned you down, not the SBA. You can apply with us. We can take that borrower, and because we have over 100 SBA lenders of all shapes and sizes, we can often get them approved for an SBA loan at the SAME OR BETTER RATES! In fact, over 90% of the SBA loans we close got denied by another SBA lender first!
We have: - Non-bank SBA lenders that do NOT require collateral for approval
– We can do second store financing less than a year after opening your first location
– We have conventional financing for businesses with multiple locations
- We can operate in ALL franchises even restaurants and, we can do most with only 10% down
-We can do construction projects as well on the SBA-both 7A and 504 with higher approval rates
You see, all lenders have tendencies. SO some lenders may be all about the credit score and they will look past experience and other factors to do a deal for the borrower with great credit. Other banks key on experience and they are going to be more lenient on credit if the borrower has a proven track record. What I do is match the strength of the borrower with the lender most likely to approve them…the results? More approvals. We will close at LEAST 5 SBA loans this month and all but one of them got denied somewhere else first before coming to us.
