My SBA Loan Pro Podcast

Applying for an SBA loan can be stressful , grueling and confusing — does this sound familiar? Don’t worry, SBA Pro and Host of the My SBA Loan Pro podcast Ryan Smith, reveals valuable insights and best practices regarding the SBA loan program and application process. Don’t take another step on your SBA journey until your equipped to make sound and informed decisions at every turn. Start listening today!

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Episodes

How SBA 7(a) Loan Interest Rates Are Determined

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 Procedure manual, The lending institution which is reviewing the loan application and the economic market conditions at the time of the loan application. Pa...

Jun 28, 2019•4 min•Ep. 10

Can An Individual With An E-2 Visa Acquire A Business With An SBA 7(a) Loan?

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 indefinitely and have future U.S. citizenship or verified permanent resident status. Number 2. The non-immigrant visa holder must have been a member of manage...

Jun 16, 2019•3 min•Ep. 9

How Much Of A Cash Injection Is Required To Qualify For An SBA Guaranteed Loan?

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 capital require between 5% - 25% cash injection depending on the amount requested and the bank entertaining the request. Resources ⁠ ⁠⁠⁠ ⁠https://mysbaloanp...

Jun 15, 2019•3 min•Ep. 8

SBA 7(a) Guaranteed Loan Program To Purchase or Refinance Real Estate Explained

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 properties may be financed up to 85% loan to value. Resources ⁠ ⁠⁠⁠ ⁠https://mysbaloanpro.com⁠⁠ - My SBA Loan Pro Podcast ⁠https://youtube.com/@mysbapro⁠ - You...

Jun 10, 2019•3 min•Ep. 7

SBA 504 Guaranteed Loan Program To Purchase Real Estate Explained

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% loan to value. Resources ⁠ ⁠⁠⁠ ⁠https://mysbaloanpro.com⁠⁠ - My SBA Loan Pro Podcast ⁠https://youtube.com/@mysbapro⁠ - YouTube Channel ⁠⁠⁠⁠ ⁠https://thinks...

Jun 08, 2019•3 min•Ep. 6

Do I Need Financial Projections To Qualify For An SBA Working Capital Loan?

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. Resources ⁠ ⁠⁠⁠ ⁠https://mysbaloanpro.com⁠⁠ - My SBA Loan Pro Podcast ⁠https://youtube.com/@mysbapro⁠ - YouTube Channel ⁠⁠⁠⁠ ⁠https://thinksba.com/faq⁠...

Jun 06, 2019•2 min•Ep. 5

Do I Need a Business Plan To Obtain an SBA Guaranteed Loan?

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 future financial success of your new venture. Resources ⁠ ⁠⁠⁠ ⁠https://mysbaloanpro.com⁠⁠ - My SBA Loan Pro Podcast ⁠https://youtube.com/@mysbapro⁠ -...

Jun 06, 2019•2 min•Ep. 4

Is Collateral Required To Qualify For An SBA Guaranteed Loan?

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. However, when the loan amount is higher than $350,000 then collateral is required. The actual amount of collateral varies and is determined by the requested...

May 04, 2019•2 min•Ep. 3

How Long Does The SBA Guaranteed Loan Process Usually Take?

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 possible or are they still doing everything the old fashioned way. If you would like more information or to get the application process started today, please vis...

May 01, 2019•2 min•Ep. 2

What Is An SBA Guaranteed Loan And Who Is Eligible?

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 75% - 90% of the principal loan amount meaning the banks risk in case of default is only between 10% - 25% of the outstanding principal loan balance at t...

Apr 27, 2019•3 min•Ep. 1

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