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.
SBA loan podcasts for business owners and entrepreneurs contemplating or currently applying for an SBA 7(a) or 504 loan to purchase real estate or business.
Different Types of Lenders 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 …
Non-Bank Lenders 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 …
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 …
Single Purpose Property 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 …
Who Is Required To Guaranty SBA Loan It’s important to understand that the applicant or borrower of an SBA guaranteed loan 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 source …
Need To Pledge Personal Residence 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 …
SBA 504 Loan Rates 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 …
SBA 7(a) Rates 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 …
My SBA Loan Pro E-2 Visa Eligiblity 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. The Application must contain assurance that management is expected to …
Cash Injection Requirement 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 …
SBA 7(a) Loan Program To Purchase Real Estate 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 …
Business Plan 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 …
