ThinkSBA
ThinkSBA is a Nationwide SBA 504 and 7a Loan Brokerage serving small business and entrepreneurs purchasing owner occupied real estate, acquiring a business or franchise or buying out a partner.
Blog posts and podcast episodes organized to make it easy to access all you need to know how to successfully apply for an SBA 504 loan.
The World of SBA :46 SBA Lenders are actively approving loans Everyone’s pipelines are flush with loan originations Underwriting is taking up to three weeks with the loan package sitting in the queue for nearly two of those three weeks 25 year fixed Interest rates are as low as 2.9% for SBA 7(a) real estate …
The Landlord Lien Subordination And Collateral Access Agreement is required to be executed during the loan closing process when an applicant receiving an SBA loan has secured an interest in real property through a commercial lease. Parties To Agreement Parties to the agreement include the SBA Lender, who is referred to as the Lender, the …
Contrary to popular opinion SBA Loans are quite flexible. Case in point, The SBA Standby Creditor’s Agreement. This Agreement establishes the interest rate and loan terms of a promissory note between the buyer, referred to as the Standby Borrower and the Seller, referred to as the Standby Creditor, to mitigate three fundamental credit weaknesses in …
The Gift Letter There are many instances where borrowers applying for an SBA loan to purchase real estate, acquire a business or franchise or obtain working capital for growth do not possess the required 10% minimum equity injection. The good news is that the SBA permits the applicant to receive a monetary gift to assist …
Form 159 November 1st, 2018 the SBA combined SBA Form 159(7a) and SBA Form 159(504) into one form known simply as Form 159. Form 159 requires applicants to disclose services and fees charged by an Agent hired in connection with applying for an SBA loan whether a 7(a) or 504. The purpose of this form …
SBA Loan Form 912 The SBA Statement of Personal History Form 912 must be completed by everyone who answers yes to questions 18 or 19 on SBA 7(a) Borrower Information Form 1919, Section II: Principal Information. These questions ask whether the individual principal applying has been arrested within the last six months or whether they …
The SBA 7(a) Borrower Information Form 1919 is required to be completed by every individual with 20% or more ownership in the applicant business entity whether applying for an SBA 7a or 504 loan. Completing this form is not complicated but there are a few things that are important to know. First, the form consists …
One of the most popular ways to become a business owner is to acquire an existing business. There are many advantages to acquiring an existing business which I will highlight below. Is Buying The Best Option But first, it’s worth saying that prior to acquiring a business you should conduct a financial analysis to determine …
Acquire Business With SBA 7(a) Loan Program One of the most popular ways to become a business owner is to acquire an existing business. And the easiest way to qualify for financing is through the SBA 7(a) program. Before I highlight the advantages of the 7(a) program, I’d first like to raise the point that …
Finance Ground Up Construction Often business owners will want to acquire raw land and build or improve an existing commercial building to suit their unique business model and company culture. The SBA 504 and 7a Loan Programs are designed perfectly to meet this purpose. If you are currently contemplating whether to buy raw land to …
Pre-Payment Penalty Trap Many small business owners are unfamiliar with pre-payment penalties associated with purchasing or refinancing commercial real estate through the SBA 504 or 7(a) guaranteed loan programs. So let me educate you on what they are and how you can avoid the pre-payment penalty trap. A pre-payment penalty is a fee charged by …
What Is A Multi-Purpose Property 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 or use. The primary determining factor whether a property is considered multi-purpose has to do with the design …
