My SBA Loan Pro podcast

#Business #Real Estate #SBA FM #Ryan Smith

23:28

My guest today has been keeping us up to date with the current state of hiring for marketers on a quarterly basis, which has taken us on quite a roller coaster ride. Today we’re going to look at how marketing and communication execs are responding to the latest developments in the world while still needing to get their work done. To take a look at the latest here, I’d like to welcome back to the show Sue Keith, Corporate Vice President at Landrum Talent Solutions. About Sue Keith Sue Keith is Corporate Vice President at Landrum Talent Solutions. With deep expertise in navigating complex labor markets, Sue has a front-row seat to the evolving dynamics of marketing roles, hiring trends, and the broader implications of AI and economic uncertainty. RESOURCES Landrum Talent Solutions: https://www.landrumtalentsolutions.com https://www.landrumtalentsolutions.com This episode is brought to you by Landrum Talent Solutions, a national recruiting firm specializing in marketing and HR positions. https://www.landrumtalentsolutions.com Catch the future of e-commerce at eTail Boston, August 11-14, 2025. Register now: https://bit.ly/etailboston and use code PARTNER20 for 20% off for retailers and brands Online Scrum Master Summit is happening June 17-19. This 3-day virtual event is open for registration. Visit www.osms25.com and get a 25% discount off Premium All-Access Passes with the code osms25agilebrand Don't Miss MAICON 2025, October 14-16 in Cleveland - the event bringing together the brights minds and leading voices in AI. Use Code AGILE150 for $150 off registration. Go here to register: https://bit.ly/agile150 Connect with Greg on LinkedIn: https://www.linkedin.com/in/gregkihlstrom Don't miss a thing: get the latest episodes, sign up for our newsletter and more: https://www.theagilebrand.show Check out The Agile Brand Guide website with articles, insights, and Martechipedia, the wiki for marketing technology: https://www.agilebrandguide.com The Agile Brand is produced by Missing Link—a Latina-owned strategy-driven, creatively fueled production co-op. From ideation to creation, they craft human connections through intelligent, engaging and informative content. https://www.missinglink.company…

My SBA Loan Pro Podcast

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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!

68 епізодів

My SBA Loan Pro Podcast

updated 8 днів тому

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68 епізодів

#Business #Real Estate #SBA FM #Ryan Smith

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My SBA Loan Pro Podcast

1
Employment Law Risks Every Business Must Know with Sam Sherman | Ep. 16 | My SBA Loan Pro Podcast 44:35

8 днів тому44:35

44:35

Employment attorney Sam Sherman reveals critical legal risks California business owners face—from wage/hour compliance to PAGA lawsuits, misclassification, and M&A pitfalls. Learn how to protect your business proactively and avoid costly mistakes. If you liked this content, let's connect on social media: Instagram: https://instagram.com/mysbapro Twitter: https://twitter.com/mysbapro LinkedIn: https://linkedin.com/in/ryanpatryck Key Chapters: 0:00 - Introduction 1:54 - Wage & Hour 3:20 - Employee Classification 5:38 - Demand Letters 7:38 - Leave Management 9:50 - Immigration Compliance 12:39 - M&A Risks 15:00 - PAGA Lawsuits 17:50 - Settlement Pressures 20:08 - HR vs Legal 22:27 - Proactive Prevention More Subject Matter Experts Playlist https://youtube.com/playlist?list=PL1v-z-ZlTQ4FuSfq8GRuV9jJY3dd5vw9p&si=04XGGOYICU8pngKN⁠ More ThinkSBA Resources⁠ https://calendly.com/thinksba - Schedule Call https://g.page/thinksba - Google Business Page & Reviews https://thinksba.com/faq - Frequently Asked Questions https://mysbaloanpro.com⁠ - My SBA Loan Pro Podcast http://youtube.com/@thinksba - YouTube Channel…

My SBA Loan Pro Podcast

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SBA 504 Loans To Buy Owner User Real Estate with Ken Rosenthal | Ep. 15 | My SBA Loan Pro Podcast 42:00

18 днів тому42:00

42:00

In this episode, Ken Rosenthal shares expert insights on why business owners should consider purchasing their commercial property and the best financing options available, including SBA 7a and 504 loans. Learn how owning your building provides stability, tax benefits, and long-term investment potential. Ken breaks down the differences between conventional loans, SBA programs, and other financing methods, helping you make an informed decision. Whether you're a small business owner or an entrepreneur looking to secure your future, this discussion is packed with valuable advice. If you liked this content, let's connect on social media: Instagram: https://instagram.com/mysbapro Twitter: https://twitter.com/mysbapro LinkedIn: https://linkedin.com/in/ryanpatryck Key Chapters: (00:00) Why Buy Your Building? (12:53) Owning vs. Renting Benefits (19:40) 5 Financing Methods (23:07) SBA 7A vs. 504 Loans (29:25) Interest Rates Impact (37:37) Qualifying for SBA Loans (45:12) Loan Process Overview (52:30) Success Stories & Examples (1:00:15) Final Tips & Next Steps More Subject Matter Experts Playlist https://youtube.com/playlist?list=PL1v-z-ZlTQ4FuSfq8GRuV9jJY3dd5vw9p&si=04XGGOYICU8pngKN⁠ More ThinkSBA Resources⁠ https://calendly.com/thinksba - Schedule Call https://g.page/thinksba - Google Business Page & Reviews https://thinksba.com/faq - Frequently Asked Questions https://mysbaloanpro.com⁠ - My SBA Loan Pro Podcast http://youtube.com/@thinksba - YouTube Channel…

My SBA Loan Pro Podcast

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How to Thrive as a Franchise Owner with Marc Camras | Ep. 14 | My SBA Loan Pro Podcast 42:15

5 weeks тому42:15

42:15

Thinking about buying a franchise? Already own one but struggling to succeed? In this episode, franchise expert Mark Camras, author of Secrets of Franchise Success, reveals the top strategies top-performing franchisees use to build thriving businesses. Learn how to overcome fear, develop the right mindset, leverage franchisor resources, and create a winning culture. Whether you're considering franchise ownership or looking to improve your current business, this episode is packed with actionable insights. If you liked this content, let's connect on social media: Instagram: https://instagram.com/mysbapro Twitter: https://twitter.com/mysbapro LinkedIn: https://linkedin.com/in/ryanpatryck Key Chapters: • (0:00) Franchise Success Intro • (0:46) Secrets of Franchise Success • (1:27) Who Should Franchise? • (2:17) Franchising vs. Starting Alone • (3:17) What Franchisors Don’t Teach • (5:18) Overcoming Franchise Fear • (8:56) Goal Setting & Accountability • (10:13) Coaching for Franchise Success • (13:50) Franchise Coaching Success Stories • (16:19) Traits of Top Franchisees • (20:05) Turning Complaints into Growth • (24:03) Preparing for Franchise Ownership • (27:00) Vision & Long-Term Planning • (29:32) Humility & Curiosity Matter • (33:42) Accessing the CEO Mindset More Subject Matter Experts Playlist https://youtube.com/playlist?list=PL1v-z-ZlTQ4FuSfq8GRuV9jJY3dd5vw9p&si=04XGGOYICU8pngKN⁠ More ThinkSBA Resources⁠ https://calendly.com/thinksba - Schedule Call https://g.page/thinksba - Google Business Page & Reviews https://thinksba.com/faq - Frequently Asked Questions https://mysbaloanpro.com⁠ - My SBA Loan Pro Podcast http://youtube.com/@thinksba - YouTube Channel…

My SBA Loan Pro Podcast

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Demystifying Group Health Benefits with Jim Morrison | Ep. 13 | My SBA Loan Pro Podcast 47:43

6 weeks тому47:43

47:43

In this episode of the My SBA Loan Pro podcast, Ryan chats with Jim Morrison—one of the best in the business when it comes to employer benefits. We dive into group health insurance and cover everything business owners need to know, from staying compliant to finding the right coverage for their team. Jim drops a ton of practical tips to help you steer clear of expensive mistakes and get the most bang for your buck. If you're running a business, big or small, this one's definitely worth a listen. If you liked this content, let's connect on social media: Instagram: https://instagram.com/mysbapro Twitter: https://twitter.com/mysbapro LinkedIn: https://linkedin.com/in/ryanpatryck Key Chapters: 0:00 – Why Benefits Matter 1:17 – Who is Jim Morrison? 2:34 – Broker’s Role Simplified 4:13 – Mandatory vs. Voluntary Benefits 6:20 – Benefits for Talent Retention 8:11 – Avoiding Costly Mistakes 12:54 – Compliance Risks 16:25 – Client Success Stories 20:30 – M&A & Benefits Impact 25:45 – 2024 Legislative Updates 30:10 – Fixing Healthcare Flaws 35:50 – Future of Health Insurance More Subject Matter Experts Playlist https://youtube.com/playlist?list=PL1v-z-ZlTQ4FuSfq8GRuV9jJY3dd5vw9p&si=04XGGOYICU8pngKN⁠ More ThinkSBA Resources⁠ https://calendly.com/thinksba - Schedule Call https://g.page/thinksba - Google Business Page & Reviews https://thinksba.com/faq - Frequently Asked Questions https://mysbaloanpro.com⁠ - My SBA Loan Pro Podcast http://youtube.com/@thinksba - YouTube Channel…

My SBA Loan Pro Podcast

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Life Settlements Explained with Philip Giordano | Ep. 12 | My SBA Loan Pro Podcast 50:04

10 weeks тому50:04

50:04

Unlock the hidden value in your life insurance policy! In this episode, Phil dives into the world of life settlements—what they are, who qualifies, and when selling your policy could be a smart move. Hear real stories of clients who received far more than their cash surrender value and discover the key signs that it might be time to explore your options. Whether you're a senior, a business owner, or a financial advisor, this is essential viewing for anyone looking to make the most of their life insurance. If you liked this content, let's connect on social media: Instagram: https://instagram.com/mysbapro Twitter: https://twitter.com/mysbapro LinkedIn: https://linkedin.com/in/ryanpatryck Chapters: 0:00 – Introduction to Life Settlements 0:30 – How Phil Entered the Life Settlement Industry 2:40 – What Is a Life Settlement? 4:13 – When Should You Consider a Life Settlement? 7:18 – Term vs. Universal vs. Whole Life Policies 10:05 – Ideal Age & Health for a Life Settlement 12:21 – Real Client Examples: How Much Cash They Received 16:32 – Pitfalls to Avoid 20:02 – How Life Settlement Buyers Determine Value 24:49 – Why Many Financial Advisors Don’t Know About Life Settlements 28:03 – Tax Implications of Selling Your Policy 32:15 – Common Uses for Life Settlement Cash 36:40 – How to Get Your Policy Evaluated 40:50 – Debunking Whole Life Insurance Myths 45:00 – Final Takeaways & Next Steps More Subject Matter Experts Playlist https://youtube.com/playlist?list=PL1v-z-ZlTQ4FuSfq8GRuV9jJY3dd5vw9p&si=04XGGOYICU8pngKN ⁠More ThinkSBA Resources ⁠https://calendly.com/thinksba - Schedule Call https://g.page/thinksba - Google Business Page & Reviews https://thinksba.com/faq - Frequently Asked Questions https://mysbaloanpro.com⁠ - My SBA Loan Pro Podcast http://youtube.com/@thinksba - YouTube Channel…

My SBA Loan Pro Podcast

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How To Deliver Unreasonable Value with M&A Advisor Tim Malott | Ep. 11 | My SBA Loan Pro Podcast 32:13

12 weeks тому32:13

32:13

In this episode, Tim Malott, a seasoned M&A Advisor and Investment Banker, reflects on his journey from CPA and Bank President to Managing Partner of Shoreline Partners. With over 30 years of experience, Tim shares his approach to problem-solving, the nuances of selling privately held companies, and his commitment to creating an unreasonable value for his clients. He offers insight into the M&A process, the distinctions between business brokers and investment bankers, and the importance of preparation and storytelling in maximizing business value. Whether you're a business owner, investor, or simply interested in mergers and acquisitions, this episode provides valuable perspectives on navigating the complexities of the industry. Stay tuned for actionable tips and expert advice from Tim throughout this entire episode. If you liked this content, let's connect on social media: Instagram: https://instagram.com/mysbapro Twitter: https://twitter.com/mysbapro LinkedIn: https://linkedin.com/in/ryanpatryck Chapters: 0:00 - Introduction 1:02 - The Start of Creative Problem-Solving 2:47 - Genesis of Shoreline Partners 4:09 - What Shoreline Partners Does 7:44 - The M&A Process: From Preparation to Closing 10:02 - Shoreline vs. Business Brokers: Key Differences 12:14 - Delivering Unreasonable Value 17:11 - Preparing Your Business for Sale 19:10 - Managing Seller Emotions During M&A 21:35 - Understanding Buyers and Financing 24:11 - Industries Ripe for Acquisition in San Diego 25:28 - The Current M&A Market and Future Predictions 27:50 - The Risks of Waiting to Sell More Subject Matter Experts Playlist https://youtube.com/playlist?list=PL1v-z-ZlTQ4FuSfq8GRuV9jJY3dd5vw9p&si=04XGGOYICU8pngKN ⁠More ThinkSBA Resources ⁠https://calendly.com/thinksba - Schedule Call https://g.page/thinksba - Google Business Page & Reviews https://thinksba.com/faq - Frequently Asked Questions https://mysbaloanpro.com⁠ - My SBA Loan Pro Podcast http://youtube.com/@thinksba - YouTube Channel…

My SBA Loan Pro Podcast

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A Primer To SBA Financing For Business Acquisitions 4:58

26 weeks тому4:58

4:58

Today, we’re discussing the structure of most business acquisition transactions when using SBA financing. If you’re looking to acquire a business, understanding these financing components is critical. Let’s break it down. SBA Loan Structure Overview Most SBA-financed business acquisitions involve three key components: Bank Financing – 90% The majority of the deal, up to 90%, is funded through the SBA loan. This includes the purchase price, working capital, and closing costs. This structure minimizes the buyer’s initial cash outlay while maximizing financial leverage. Seller Financing – 5-7% Typically, sellers are asked to finance 5-7% of the transaction. This is a subordinated loan, meaning it’s repaid after the bank loan. Seller financing not only helps structure the deal but also signals the seller’s confidence in the business. Buyer Equity Injection – 3-5% Buyers are generally required to contribute 3-5% of the purchase price as equity. This is significantly lower than the down payment required in traditional financing, making SBA loans an attractive option. This three-tiered structure is designed to align the interests of all parties involved while ensuring the deal is well-capitalized. Financing Larger Transactions For acquisitions exceeding $5 million, additional mechanisms like Pari Passu arrangements may be utilized. In this structure, additional lenders provide funding on equal terms with the SBA loan. This allows buyers to pursue larger opportunities while maintaining similar financial leverage. Interest Rates and What to Expect SBA loans are known for their competitive interest rates, which are tied to the Prime Rate . The range typically falls between Prime + 0.75% and Prime + 2.75% for SBA loans above $500,000 . Where you fall within that range depends on two primary factors: Business Cash Flow : A strong and predictable cash flow may qualify for more favorable rates. Buyer Profile : Your experience, creditworthiness, and financial strength also play a role in determining the rate. To secure the best terms, it’s essential to present a well-prepared business plan and demonstrate your financial and operational capabilities. Key Advantages of SBA Financing SBA loans are structured to support buyers in acquiring businesses efficiently. Key benefits include: Lower Capital Requirements : A 3-5% equity injection makes ownership more accessible. Flexible Structuring : The inclusion of seller financing and the ability to utilize Pari Passu for larger deals provide adaptability. Preserved Cash Flow : Competitive interest rates help maintain financial stability and growth potential post-acquisition. Conclusion: SBA financing is an excellent option for structuring business acquisitions, offering flexibility, accessibility, and competitive terms. Whether you’re acquiring a business for $500,000 or over $5 million, understanding these components is vital to your success.…

My SBA Loan Pro Podcast

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SBA Financing For Franchise Startups 4:39

27 weeks тому4:39

4:39

Host Introduction: In today’s episode, we’ll focus on SBA financing for franchise startups. If you’re thinking about starting your own franchise location, this is the roadmap you need to follow to secure financing and set yourself up for success. Let’s dive into the process. Understanding SBA Financing for Franchises SBA loans are an excellent option for funding franchise startup locations. They provide flexible terms, competitive interest rates, and the ability to finance many of the costs associated with launching a franchise. However, like any business loan, there are steps and upfront costs you need to address before submitting your application. Steps to Prepare for SBA Loan Submission To secure SBA financing, you’ll need to follow a series of essential steps: 1. Qualify with the Franchise Before anything else, you need to ensure you meet the franchise’s qualifications. Most franchises have specific requirements for financial stability, business experience, and operational readiness. It’s critical to get their approval before moving forward. 2. Buy Your Franchise Territory The next step is to purchase your franchise territory. This formalizes your agreement with the franchisor and lays the groundwork for your startup. 3. Find a Location Location is key to your franchise’s success. Once you’ve identified a viable site, you can proceed to the next step. 4. Execute a Letter of Intent (LOI) The LOI is a non-binding agreement that outlines the terms for leasing or purchasing your selected property. It’s an important document that lenders will want to review. 5. Hire an Architect & Apply For Permits At this stage, you’ll need to engage an architect to prepare detailed drawings and develop a preliminary construction budget. This budget should include all soft costs including permitting fees, materials, labor, and furniture, fixtures, and equipment (FF&E). Preparing Your Loan Application Once you’ve completed these steps, your SBA loan application is ready to be submitted to lenders. These items demonstrate to lenders that you have a clear plan and a viable business opportunity, both of which are essential for loan approval. Important Considerations for Borrowers It’s important to understand that many of these steps—such as paying for franchise fees, architectural drawings, and initial soft costs—must be completed before you’re guaranteed funding. This means you’ll incur some upfront expenses, which can feel risky. However, working with a trusted partner like ThinkSBA can make all the difference. We guide you through the process, ensuring that your efforts are focused, your expenses are justified, and your financing is positioned for approval. Our expertise gives you the peace of mind that your hard work will pay off. Conclusion: Launching a franchise startup is an exciting venture, but it requires careful preparation and strategic planning to secure SBA financing. By following the steps we’ve outlined and partnering with a trusted advisor like ThinkSBA, you can confidently navigate the process and position yourself for success.…

My SBA Loan Pro Podcast

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SBA Loan Legal Closing Process with Attorney Scott Oliver | Ep. 10 | My SBA Loan Pro Podcast 45:59

33 weeks тому45:59

45:59

Join Ryan Smith, Principal and Founder of ThinkSBA and Attorney Scott Oliver with Lewis & Kappes as they delve into the intricacies of the SBA loan legal closing process, recent SOP changes, and the crucial role lender legal counsel plays in ensuring lender compliance. Gain valuable insights into Landlord Lien Waiver and Collateral Access Agreement, attorney negotiations, and the overall loan closing process. Whether you're a seasoned lender or a prospective SBA loan applicant, this podcast offers essential knowledge for successfully navigating the SBA loan application process from start to funding. Stay tuned for actionable tips and expert advice from Scott throughout this entire episode. If you liked this content, let's connect on social media: Instagram: https://instagram.com/mysbapro Twitter: https://twitter.com/mysbapro LinkedIn: https://linkedin.com/in/ryanpatryck Chapters: 00:00 - Introduction 00:55 - Scott's Bio 03:42 - Closing Process Overview 07:12 - Landlord Waivers and Negotiations 08:56 - Good vs. Bad Buy-Side Attorneys 11:23 - Uncommon Requests and Scenarios 14:15 - Flexibility of SBA Loan Documents 17:15 - Recent Changes to SOP Manual 20:37 - Process After Commitment Letter 26:10 - Partial Change of Ownership 36:22 - Forgivable Seller Note & Expansion Loans More Subject Matter Experts Playlist https://youtube.com/playlist?list=PL1v-z-ZlTQ4FuSfq8GRuV9jJY3dd5vw9p&si=04XGGOYICU8pngKN ⁠More ThinkSBA Resources ⁠https://calendly.com/thinksba - Schedule Call https://g.page/thinksba - Google Business Page & Reviews https://thinksba.com/faq - Frequently Asked Questions https://mysbaloanpro.com⁠ - My SBA Loan Pro Podcast http://youtube.com/@thinksba - YouTube Channel…

My SBA Loan Pro Podcast

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SBA 7(a) Pari Passu Lending To Acquire A Business With Bruce Marks | Ep. 9 | My SBA Loan Pro Podcast 1:19:30

1 year тому1:19:30

1:19:30

Bruce Marks has made a career out of mastering lower middle market business acquisition financing by leveraging the SBA 7(a) loan program coupled with a Pari Passu conventional loan for loan requests that exceed the SBA's $5 Million borrowing limit. In this Episode Bruce pulls back the curtain revealing how to structure a Pari Passu loan for success by diving deep into risk assessment, the searcher, the target business along with working capital, quality of earnings report, debt service coverage ratio and a whole lot more. If you liked this content, let's connect on social media: Instagram: https://instagram.com/mysbapro Twitter: https://twitter.com/mysbapro LinkedIn: https://linkedin.com/in/ryanpatryck Chapters: 00:00 Introduction 00:29 - Bruce's Bio 00:38- Assessing Risk in Loan 06:01 - Preparing for Pari Passu 19:39 - Searcher Profile 21:12 - Importance of Credibility 26:36 - Qualifications for Business Acquisition 22:54 - Experience vs Education 28:54 - Business Model & Sustainability 31:49 - Borrower Profile 32:56 - Transferrable Skills & Experience 40:44 - Case Studies 51:18 - Debt Service Coverage Ratio 59:00 - Understanding Business Working Capital Needs 01:03:33 - Deal Breakers & Industry Preferences 01:07:00 - Searcher Preparedness 01:14:32 - Contact Bruce More Subject Matter Experts Playlist https://youtube.com/playlist?list=PL1v-z-ZlTQ4FuSfq8GRuV9jJY3dd5vw9p&si=04XGGOYICU8pngKN ⁠More ThinkSBA Resources ⁠https://calendly.com/thinksba - Schedule Call https://g.page/thinksba - Google Business Page & Reviews https://thinksba.com/faq - Frequently Asked Questions https://mysbaloanpro.com⁠ - My SBA Loan Pro Podcast http://youtube.com/@thinksba - YouTube Channel…

My SBA Loan Pro Podcast

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How To Properly Apply For An SBA Working Capital Term Loan 3:56

1 year тому3:56

3:56

Working capital has many meanings and definitions depending on the application of funds. For the purpose of this podcast, I will define working capital as capital provided to a business to fund tangible recurring business expenses or capital expenditures. Working Capital For Growth As an SBA Loan Broker, I often receive inquiries from SMB owners for working capital to fund the growth of their business. Their definition of working capital is the transfer of funds from the lender's bank account to their bank account without any strings attached. This is not the definition of working capital. Let's set the record straight. Banks provide working capital to fund specific uses such as the purchase of equipment, furniture, fixtures, tenant improvements and fixed expenses such as rent, utilities, maintenance, and employee wages. Therefore, it is important to understand that in preparing your application to submit to SBA lenders, you will need an itemized list of what we call "Use of Proceeds." Just as it implies, the phrase "use of proceeds" simply means identifying the tangible items the funds will be used for by the borrower. To be crystal clear. When a borrower is requesting working capital for growth, they should not expect the funds to be sent to them without providing a detailed use of proceeds. Working Capital To Acquire a Business When applying for an SBA loan to acquire a business, lenders will nearly always provide working capital to sustain the borrower through the transition of the business. This typically includes working capital to pay up to 90 days of fixed expenses and what I refer to as "free working capital," which means the ability to spend the capital without strings attached. This amount of free working capital is normally small compared to the larger amount used for tangible capital expenditures or recurring fixed expenses. You Are Ready To Apply Now that you know how to properly prepare your application, you can successfully apply for working capital to grow your existing business or successfully transition a newly acquired business. If you liked this content, let's connect on social media: Instagram: ⁠⁠⁠https://instagram.com/mysbapro⁠⁠⁠ Twitter: ⁠⁠⁠https://x.com/mysbapro⁠⁠⁠ LinkedIn ⁠⁠⁠https://linkedin.com/in/ryanpatryck More ThinkSBA Resources ⁠⁠⁠⁠https://calendly.com/thinksba⁠⁠⁠⁠ - Schedule Call ⁠⁠⁠⁠https://g.page/thinksba⁠⁠⁠⁠ - Google Business Page & Reviews ⁠⁠⁠⁠https://thinksba.com/faq⁠⁠⁠⁠ - Frequently Asked Questions ⁠⁠⁠⁠https://mysbaloanpro.com⁠⁠⁠⁠ ⁠ - My SBA Loan Pro Podcast ⁠⁠⁠⁠https://youtube.com/@thinksba⁠⁠⁠⁠ - YouTube Channel…

My SBA Loan Pro Podcast

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SBA Loan Default Insights And Strategies with John Homan | Ep. 8 | My SBA Loan Pro Podcast 41:26

1 year тому41:26

41:26

Join Ryan Smith, Principal and Founder of ThinkSBA, as he sits down with John Homan, esteemed SBA Loan Workout Specialist. John shares valuable insights into the intricacies of SBA loan defaults, including how to avoid defaulting, how lenders respond to non-payment to mitigation strategies. Discover how to safeguard your assets, negotiate settlements, and overcome challenges, all while maintaining a positive outlook. Don't miss this empowering discussion tailored for SBA loan guarantors facing defaulting on their loan payments. If you liked this content, let's connect on social media: Instagram: ⁠⁠https://instagram.com/mysbapro⁠⁠ Twitter: ⁠⁠https://x.com/mysbapro⁠⁠ LinkedIn ⁠⁠https://linkedin.com/in/ryanpatryck Chapters: 00:00 Introduction 00:29 - John's Bio 2:25 - Types of Loans 5:06 - Common Issues with SBA Loans 8:54 - Personal Guarantees and Collateral 10:53 - Asset Protection Strategies 12:29 - Handling Default and Settlements 16:22 - Repossession and Foreclosure 24:33 - Finding Help for SBA Loan Default 27:00 - Lender Aggressiveness 28:02 - Success Stories 31:21 - Due Diligence for SBA Loans 34:07 - Assessing Business Opportunities 37:02 - Contact John Link to full episode: https://youtu.be/w0S0tgSccTQ?si=BiYYCUf-5GwnUPEw ⁠ More ThinkSBA Resources ⁠⁠⁠https://calendly.com/thinksba⁠⁠⁠ - Schedule Call ⁠⁠⁠https://g.page/thinksba⁠⁠⁠ - Google Business Page & Reviews ⁠⁠⁠https://thinksba.com/faq⁠⁠⁠ - Frequently Asked Questions ⁠⁠⁠https://mysbaloanpro.com⁠⁠⁠ ⁠ - My SBA Loan Pro Podcast ⁠⁠⁠https://youtube.com/@thinksba⁠⁠⁠ - YouTube Channel…

My SBA Loan Pro Podcast

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SBA 504 Green Loan Program Explained With Sol Rosenbaum | Ep. 7 | My SBA Loan Pro Podcast 33:03

1 year тому33:03

33:03

Ryan Smith, Principal and Founder of ThinkSBA, sits down with Sol Rosenbaum of SR Engineering and Consulting, a seasoned mechanical engineer with over two decades of experience in energy engineering. Discover how Sol's firm assists business owners in navigating the complexities of the SBA 504 Green program through meticulous assessments and engineering support. Learn about the two primary pathways—energy efficiency and renewable energy—and explore real-world case studies showcasing the tangible benefits for business owners. If you liked this content, let's connect on social media: Instagram: https://instagram.com/mysbapro Twitter: https://twitter.com/mysbapro LinkedIn https://linkedin.com/in/ryanpatryck Chapters 0:00 - Introduction 01:14 - Sol's bio 02:41 - Qualifications & Program Requirements 03:43 - SBA Expectations 06:08 - Explaining SBA's 504 Guarantee Program 08:43 . Engagement Process & Data Collection 14:02 - Energy Efficiency vs. Renewable 15:53 - Geographic Considerations 18:26 - Structural and Municipality Concerns 19:30 - Timelines and Process for Report Preparation 24:37 - Case Studies 30:46 - Connect with Sol More Subject Matter Experts Playlist https://youtube.com/playlist?list=PL1v-z-ZlTQ4FuSfq8GRuV9jJY3dd5vw9p&si=04XGGOYICU8pngKN ⁠More ThinkSBA Resources ⁠https://calendly.com/thinksba - Schedule Call https://g.page/thinksba - Google Business Page & Reviews https://thinksba.com/faq - Frequently Asked Questions https://mysbaloanpro.com⁠ - My SBA Loan Pro Podcast http://youtube.com/@thinksba - YouTube Channel…

My SBA Loan Pro Podcast

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SBA Business Plans Made Easy With Bethany McClellan President of Rapid Business Plans 28:46

1 year тому28:46

28:46

Join our Host Ryan Smith, Principal and Founder of ThinkSBA, as he interviews Bethany McClellan, President of Rapid Business Plans. Bethany dives into the world of crafting SBA ready Business Plans and Feasibility Studies removing anxiety from SBA loan applicants. Discover how Bethany's journey from corporate sales to entrepreneurship led to a thriving agency, assisting clients in various industries from gas stations to professional services. If you liked this content, let's connect on social media: Instagram: https://instagram.com/mysbapro Twitter: https://x.com/mysbapro LinkedIn https://linkedin.com/in/ryanpatryck Chapters 0:00 - Introduction 1:15 - Bethany's Bio 5:45 - Business Plan Process 7:52 - Information Needed 8:45 - Uncovering Valuable Insights 13:18 - Feasibility Study Breakdown 17:20 - Industries Served 18:23 - Being the Boss 20:45 - Future Growth Plans 22:04 - Bank & Underwriter Interactions 24:08 - What Makes a Good Client? 25:20 - Clients served 26:39 - Contact Bethany Link to full episode: https://youtu.be/k8szIEHUAgs?si=Y0I-jXWeqftWQb8P More ThinkSBA Resources ⁠https://calendly.com/thinksba⁠ - Schedule Call ⁠ https://g.page/thinksba⁠ - Google Business Page & Reviews ⁠ https://thinksba.com/faq⁠ - Frequently Asked Questions ⁠ https://mysbaloanpro.com⁠ ⁠ - My SBA Loan Pro Podcast ⁠https://youtube.com/@thinksba⁠ - YouTube Channel…

My SBA Loan Pro Podcast

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Purchase Order Financing Factoring & Asset-Based Lines of Credit for B2B Businesses with Fernando Ponce 39:45

1 year тому39:45

39:45

In this episode of the My SBA Loan Pro Podcast Face to Face, Ryan Smith, Principal & founder of ThinkSBA sits down with Fernando Ponce, Business Development Officer at Primary Funding, a non-traditional lending source based in San Diego, California specializing in Purchase Order Financing, Factoring and Asset-Based Lines of Credit. Learn how non-traditional lending can bridge the gap for B2B businesses who are unable to secure traditional financing due to negative historical cash flow, tightening of debt markets or spontaneous rapid growth. If you liked this content, let's connect on social media: Instagram: https://instagram.com/mysbapro Twitter: https://twitter.com/mysbapro LinkedIn: https://linkedin.com/in/ryanpatryck 00:00 - Introduction 01:11 - Fernando Ponce's Bio 04:20 - Primary Funding's Role 06:57 - Types of Financing Offered 11:36 - Factoring as a Financing Solution 12:15 - Transparency and Flexibility in Financing 15:47 - Industry Challenges and Red Flags 23:42 - Business Funding Process 26:22 - Industries Eligible for Funding 29:51 - Challenges in Closing Credit Facilities 31:13 - Importance of Transparency 37:30 - When and How To Contact Fernando Link to full episode: https://youtu.be/0Y8x32Y6xsM?si=Uj9vSNG1WMkPb20- More ThinkSBA Resources ⁠https://calendly.com/thinksba - Schedule Call https://g.page/thinksba - Google Business Page & Reviews https://thinksba.com/faq - Frequently Asked Questions https://mysbaloanpro.com ⁠ - My SBA Loan Pro Podcast https://youtube.com/@thinksba - YouTube Channel…

My SBA Loan Pro Podcast

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Family-Owned Commercial Real Estate: Transition, Succession and Exit Planning With Glenn Arnold 29:48

1 year тому29:48

29:48

In this episode of The My SBA Loan Pro Podcast Face to Face Glenn Arnold with Voit Real Estate reveals transition, succession and exit strategies for privately held, family owned business owners who also own the real estate. Glenn Arnold is a Real Estate Broker who's been representing buyers and sellers of owner occupied real estate for thirty years. If you liked this content, let's connect on social media: Instagram: ⁠https://instagram.com/mysbapro ⁠ Twitter: ⁠ https://twitter.com/mysbapro⁠ LinkedIn: ⁠https://linkedin.com/in/ryanpatryck⁠ Chapters 00:00 - Introduction 00:37 - Meet Glenn Arnold 1:28 - Buying vs Leasing 2:48 - Reasons to Consider Owning 4:01 - CPA Input 4:38 - Potential Tax Efficiencies 4:51 - Occupancy Cost Comparison 7:27 - Steady & Predictable Growth 8:07 - Down Payment Considerations 10:33 - Short-Term Business Ownership 12:26 - Cash Flow Impact 14:14 - Comfort Owning Real Estate 14:36 - Long-Term Commitment 16:02 - Real Estate as Wealth Building 17:15 - Business Value vs Real Estate Value 18:02 - Specialized Improvement 21:06 - Choosing the Best Exit Vehicle 27:00 - Factors Influencing the Strategies 31:52 - Strategic and Financial Analysis 36:46 - Challenges Faced by Business Owners 41:11 - Case Study 47:22 - How to Contact Glenn Link to full episode: ⁠https://youtu.be/Cl8776oj91c More ThinkSBA Resources ⁠⁠https://calendly.com/thinksba⁠ - Schedule Call ⁠https://g.page/thinksba⁠ - Google Business Page & Reviews ⁠https://thinksba.com/faq⁠ - Frequently Asked Questions ⁠https://mysbaloanpro.com⁠ ⁠ - My SBA Loan Pro Podcast ⁠https://youtube.com/@thinksba⁠ - YouTube Channel…

My SBA Loan Pro Podcast

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Best Practices To Lease and Purchase Owner Occupied Real Estate With CRE Broker Bryan Geisbauer 48:01

1 year тому48:01

48:01

Welcome to another insightful episode of the My SBA Loan Pro Podcast Face To Face! In this episode Ryan Smith, Principal and Founder of ThinkSBA, engages in an insightful discussion with Bryan Geisbauer, a seasoned Tenant Representative and Commercial Real Estate Broker with Kidder Matthews. Brian leverages his 20 plus years experience, to level the playing field for business owner leasing space or purchasing Owner Occupied Real Estate. If you liked this content, let's connect on social media: Instagram: ⁠https://instagram.com/mysbapro ⁠ Twitter: ⁠ https://twitter.com/mysbapro⁠ LinkedIn: ⁠https://linkedin.com/in/ryanpatryck⁠ Chapters: 00:00 - Introduction 00:53 - Bryan Geisbauer's Bio 01:58 - Tenant Representation 06:54 - Lease Negotiation Mistakes 10:44 - Defensive vs. Offensive Lease Strategies 14:41 - Lease Dynamics and Tenant Improvement Allowance 17:23 - Role of Tenant Representatives 18:33 - Transitioning to Property Ownership 27:53 - Due Diligence in Commercial Real Estate 30:00 - Commercial Real Estate Timelines 35:40 - Trust and Concessions in Real Estate 39:09 - Risks of Hiring Residential Brokers 40:53 - Lease to Ownership Transition 46:17 - When and How To Contact Bryan Link to full episode: https://youtu.be/asO0lrRsmq0 More ThinkSBA Resources ⁠⁠https://calendly.com/thinksba⁠ - Schedule Call ⁠https://g.page/thinksba⁠ - Google Business Page & Reviews ⁠https://thinksba.com/faq⁠ - Frequently Asked Questions ⁠https://mysbaloanpro.com⁠ ⁠ - My SBA Loan Pro Podcast ⁠https://youtube.com/@thinksba⁠ - YouTube Channel…

My SBA Loan Pro Podcast

1
Mastering Main Street M&A: Legal Tips And Best Practices with Jake Parsley SMB Law Group 39:24

1 year тому39:24

39:24

The SMB Law Group has burst onto the scene providing much needed legal advice to the ETA community who are pursuing main street business acquisitions often times funding the acquisition with an SBA 7(a) loan. It's refreshing to collaborate with attorneys who are familiar with SBA financing and are therefore able to help searchers structure their deal to comply with SBA eligibility requirements. In this episode of the My SBA Loan Pro Podcast, our Host Ryan Smith, interviews Jake Parsley, M&A Attorney with the SMB Law Group as he reveals crucial insights into the legal process of Main Street business acquisition transactions. Learn when to engage an attorney, cost considerations, and the significance of the Letter of Intent (LOI) and Purchase Agreement and everything in between. Together, they delve into the intricacies of M&A transactions, shedding light on the vital role attorneys play in mitigating risks and ensuring a smooth deal process. If you liked this content, let's connect on social media: Instagram: ⁠https://instagram.com/mysbapro ⁠ Twitter: ⁠ https://twitter.com/mysbapro⁠ LinkedIn: ⁠https://linkedin.com/in/ryanpatryck⁠ Chapters 00:00 - Introduction 1:05 - Jack Parsley's Bio 2:17 - SMB Law Group And Focus on Main Street 4:07 - Attorney's Role in M&A Transactions 5:22 - When To Engage An Attorney 7:13 - Life Cycle of a Deal 9:18 - Critical Aspects of the Letter of Intent (LOI) 12:36 - Exclusivity & Purchase Price in LOI 13:08 - Changing Terms in LOI 13:44 - Seller Note Terms 15:52 - Offsetting Seller Note 19:37 - Leveraging Earnest Deposits 24:28 - Are Seller Notes Common? 26:36 - Buyer Deposits and Due Diligence 27:49 - LOI vs. Purchase Agreement 32:19 - Skipping LOIs: Pros and Cons 35:16 - Trustworthiness in The Transaction 37:27 - When and How To Contact Jake More ThinkSBA Resources ⁠⁠https://calendly.com/thinksba⁠ - Schedule Call ⁠https://g.page/thinksba⁠ - Google Business Page & Reviews ⁠https://thinksba.com/faq⁠ - Frequently Asked Questions ⁠https://mysbaloanpro.com⁠ ⁠ - My SBA Loan Pro Podcast ⁠https://youtube.com/@thinksba⁠ - YouTube Channel…

My SBA Loan Pro Podcast

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Top 12 Reasons Why Business Owners Should Buy Owner Occupied Real Estate With Glenn Arnold 21:39

1 year тому21:39

21:39

Welcome to a new episode of the My SBA Loan Pro Podcast Face-to-Face, where we dive deep into the world of buying and selling Owner Occupied Commercial Real Estate! Many business owners face the question whether to buy their office space instead of leasing. This question can cause excitement or anxiety. Either way many business owners put off this important decision and miss out on this lesser known wealth building strategy. In this episode, Glenn Arnold with Voit Real Estate Services gives the top 12 reasons why a business owner should consider buying their office space. Glenn has accumulated this list from his over thirty years experience helping business owners sell and buy their owner occupied real estate. If you liked this content, let's connect on social media: Instagram: ⁠https://instagram.com/mysbapro ⁠ Twitter: ⁠ https://twitter.com/mysbapro⁠ LinkedIn: ⁠https://linkedin.com/in/ryanpatryck⁠ Chapters: 00:00 - Introduction 00:37 - Meet Glenn Arnold 1:28 - Buying vs Leasing 2:48 - Reasons to Consider Owning 4:01 - CPA Input 4:38 - Potential Tax Efficiencies 4:51 - Occupancy Cost Comparison 7:27 - Steady & Predictable Growth 8:07 - Down Payment Considerations 10:33 - Short-Term Business Ownership 12:26 - Cash Flow Impact 14:14 - Comfort Owning Real Estate 14:36 - Long-Term Commitment 16:02 - Real Estate as Wealth Building 17:15 - Business Value vs Real Estate Value 18:02 - Specialized Improvement 21:06 - Choosing the Best Exit Vehicle 27:00 - Factors Influencing the Strategies 31:52 - Strategic and Financial Analysis 36:46 - Challenges Faced by Business Owners 41:11 - Case Study 47:22 - How to Contact Glenn More ThinkSBA Resources ⁠⁠https://calendly.com/thinksba⁠ - Schedule Call ⁠https://g.page/thinksba⁠ - Google Business Page & Reviews ⁠https://thinksba.com/faq⁠ - Frequently Asked Questions ⁠https://mysbaloanpro.com⁠ ⁠ - My SBA Loan Pro Podcast ⁠https://youtube.com/@thinksba⁠ - YouTube Channel…

My SBA Loan Pro Podcast

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The King of QofE Elliott Holland and My SBA Pro Ryan Smith Discuss Quality Of Earnings Reports 40:38

1 year тому40:38

40:38

In this inaugural episode of the My SBA Loan Pro Podcast: Face to Face, Ryan interviews the King of QoE, Elliott Holland, owner and operator of Guardian Due Diligence. Elliott is an Ivy League graduate, self-funded searcher, and quality of earnings expert. Elliott's primary role in serving the SMB Community is to find the hidden skeletons in business acquisition transactions, protecting his clients from buying businesses that aren't what they seem. If you liked this content, let's connect on social media: Instagram: ⁠https://instagram.com/mysbapro ⁠ Twitter: ⁠https://twitter.com/mysbapro⁠ LinkedIn: ⁠https://linkedin.com/in/ryanpatryck⁠ Chapters: 00:00 - Introduction 01:11 - SMB Background 04:08 - SMB Passion 18:20 - Financial Statements & Tax Returns 33:16 - Learning to Trust the Expert 35:15 - How to contact Elliott Link to full episode: ⁠ https://youtu.be/cOZQ05iQAqU More ThinkSBA Resources ⁠⁠https://calendly.com/thinksba⁠ - Schedule Call ⁠https://g.page/thinksba⁠ - Google Business Page & Reviews ⁠https://thinksba.com/faq⁠ - Frequently Asked Questions ⁠https://mysbaloanpro.com⁠ ⁠ - My SBA Loan Pro Podcast ⁠https://youtube.com/@thinksba⁠ - YouTube Channel…

My SBA Loan Pro Podcast

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Demystifying The SBA Loan Application Process - Defining The Term Retrade 4:26

2 years тому4:26

4:26

Seldom are surprises welcomed when applying for an SBA loan to acquire a business, execute a change of ownership or purchase real estate. In fact, surprises usually mean a change in terms which may affect the loan's outcome or desirability. The official term for this phenomenon is Retrade. The term retrade simply means the practice of renegotiating the terms of a transaction after the initial price and terms have been agreed upon. Unfortunately, SBA lenders are also prone to retrade which may come as a surprise and to the dismay of loan applicants. Let’s explore when and why a Retrade may occur during the loan application process and more importantly how to avoid them. First, we must understand the order of events when applying for an SBA loan. After submitting a complete loan package it is customary for the lender to issue a Term Sheet also called a Letter of Interest. There are three types of Terms Sheets A term sheet printed upon demand by an inexperienced Business Development Officer without any prior due diligence performed A term sheet printed on demand by an experienced Business Development Officer with credibility within organization A Term Sheet approved by a Credit Manager or Chief Credit Officer It’s easy to understand the veracity of a Term Sheet improves and the likelihood of experiencing a retrade diminishes with more due diligence and higher scrutiny. However, take note that Wall Street banks, seen on every corner, are notorious for retrading at any point during the loan application process, even right up to the point of signing loan documents. The reason for this phenomenon may be attributed to inexperienced Business Development Officers, decentralized credit decision making authority and an abundance of obscure lending policies unknown even within the organization until after a loan is formally underwritten and reviewed by a credit manager. As a rule, I require all of my portfolio lenders to perform a minimum acceptable level of due diligence that includes reviewing the Term Sheet with a Credit Manager or when possible a Chief Credit Officer, significantly minimizing the likelihood of a retrade. Further, I require my clients and lenders to speak prior to submitting the loan request to formal underwriting so the lender can confirm the due diligence performed up to that point in an attempt to avoid any surprises including a retrade. I have only experienced three retrade events since founding ThinkSBA in 2019. Two of them by Wall Street banks with a decentralized underwriting center and one due to the need to mitigate unsatisfactory personal liquidity at the time of loan committee. Incidentally, all three loans closed. As I have demonstrated, the most effective way to avoid a retrade is to require a minimum acceptable level of due diligence and scrutiny and knowing which lenders have a higher or lower propensity to change terms after issuing a Term Sheet. Good news for my clients is that I consider avoiding surprises and or retrades as my job. Therefore, I take pride in the thoroughness of my process and never take my clients' desired outcome for granted. Remember, I’m with my clients from start to funding. More ThinkSBA Resources ⁠⁠https://calendly.com/thinksba⁠ - Schedule Call ⁠https://g.page/thinksba⁠ - Google Business Page & Reviews ⁠https://thinksba.com/faq⁠ - Frequently Asked Questions ⁠https://mysbaloanpro.com⁠ ⁠ - My SBA Loan Pro Podcast ⁠https://youtube.com/@thinksba⁠ - YouTube Channel…

My SBA Loan Pro Podcast

1
How To Bulletproof Your Business Acquisition 39:28

2 years тому39:28

39:28

All self funded searchers pursuing ETA, listen up. This podcast episode contains a comprehensive overview of the acquisition process including the following topics. After listening to this episode you will be equipped with the tools and information to make better decisions on your journey. Sell Seller Legal Team Landlord Financing Business Transfer If you liked this content, let's connect on social media: Instagram: ⁠https://instagram.com/mysbapro ⁠ Twitter: ⁠https://twitter.com/mysbapro⁠ LinkedIn: ⁠https://linkedin.com/in/ryanpatryck⁠ More ThinkSBA Resources ⁠⁠https://calendly.com/thinksba⁠ - Schedule Call ⁠https://g.page/thinksba⁠ - Google Business Page & Reviews ⁠https://thinksba.com/faq⁠ - Frequently Asked Questions ⁠https://mysbaloanpro.com⁠ ⁠ - My SBA Loan Pro Podcast ⁠https://youtube.com/@thinksba⁠ - YouTube Channel…

My SBA Loan Pro Podcast

1
SBA Procedural Notice SOP Update 2023 10:07

2 years тому10:07

10:07

The SBA has published updates to the Standard Operating Procedures manual replacing SOP 50 10 6 with SOP 50 10 7. These updates will become effective August 1, 2023. There has been much debate when and how lenders will implement these updates. The short answer is we’ll have to wait and see. For now it’s enough to understand the enormous changes that have taken place and how searchers, entrepreneurs and business owners will benefit. The reason I’ve waited to publish this information on The MY SBA Loan Pro Podcast until now is to let the dust settle and provide feedback from real world scenarios. This episode will focus on the following updates: The “So Called” Long Winded Statement A Standard Loan Vs a Small Loan Full Change of Ownership Partial Change of Ownership Franchise Directory Personal Resource Test Life Insurance Ryan is always available to speak with his loyal podcast listeners. Please schedule a call via https://mysba.pro/cal to get started today! If you liked this content, let's connect on social media: Instagram: ⁠⁠https://instagram.com/mysbapro ⁠⁠ Twitter: ⁠⁠https://twitter.com/mysbapro⁠⁠ LinkedIn: ⁠⁠https://linkedin.com/in/ryanpatryck⁠⁠ More ThinkSBA Resources ⁠⁠⁠https://calendly.com/thinksba⁠⁠ - Schedule Call ⁠⁠https://g.page/thinksba⁠⁠ - Google Business Page & Reviews ⁠⁠https://thinksba.com/faq⁠⁠ - Frequently Asked Questions ⁠⁠https://mysbaloanpro.com⁠⁠ ⁠ - My SBA Loan Pro Podcast ⁠⁠https://youtube.com/@thinksba⁠⁠ - YouTube Channel…

My SBA Loan Pro Podcast

1
SBA Loans Industry Update May 1, 2023 26:43

2 years тому26:43

26:43

Welcome to another episode of the My SBA Loan Pro Podcast: SBA Loans Industry Update May 1, 2023. In today's episode Ryan will cover the following topics: Lender Appetite Interest Rates Upcoming SBA Rule Changes SBA Behind The Curtain: Everything you need to know about SBA lending that you never knew to ask Remember to subscribe to this podcast to be notified when new episodes are available. Also, please subscribe and turn on notifications to be notified of new video content on our YouTube Channel www.thinksba.tv. If you liked this content, let's connect on social media: Instagram: ⁠⁠https://instagram.com/mysbapro ⁠⁠ Twitter: ⁠⁠https://twitter.com/mysbapro⁠⁠ LinkedIn: ⁠⁠https://linkedin.com/in/ryanpatryck⁠⁠ More ThinkSBA Resources ⁠⁠⁠https://calendly.com/thinksba⁠⁠ - Schedule Call ⁠⁠https://g.page/thinksba⁠⁠ - Google Business Page & Reviews ⁠⁠https://thinksba.com/faq⁠⁠ - Frequently Asked Questions ⁠⁠https://mysbaloanpro.com⁠⁠ ⁠ - My SBA Loan Pro Podcast ⁠⁠https://youtube.com/@thinksba⁠⁠ - YouTube Channel…

My SBA Loan Pro Podcast

1
My SBA Loan Pro SBA Financing Industry Update For February 2023 15:44

2 years тому15:44

15:44

In this episode, your SBA Loan Pro, Ryan Smith covers the following SBA Financing Topics: Access to capital Types of transactions being financed Lender processing times Current 7(a) & 504 loan interest rates Interest rates for prime borrowers Bonus Content - Behind The Curtain of SBA Financing If you liked this content, let's connect on social media: Instagram: ⁠⁠https://instagram.com/mysbapro ⁠⁠ Twitter: ⁠⁠https://twitter.com/mysbapro⁠⁠ LinkedIn: ⁠⁠https://linkedin.com/in/ryanpatryck⁠⁠ More ThinkSBA Resources ⁠⁠⁠https://calendly.com/thinksba⁠⁠ - Schedule Call ⁠⁠https://g.page/thinksba⁠⁠ - Google Business Page & Reviews ⁠⁠https://thinksba.com/faq⁠⁠ - Frequently Asked Questions ⁠⁠https://mysbaloanpro.com⁠⁠ ⁠ - My SBA Loan Pro Podcast ⁠⁠https://youtube.com/@thinksba⁠⁠ - YouTube Channel Contact Ryan at (858) 762-2774 or visit ⁠thinksba.com⁠ for more information or to get the application process started today.…

My SBA Loan Pro Podcast

1
SBA Financing For Residential Care Facilities For The Elderly 4:08

2 years тому4:08

4:08

Residential Care Facilities for the Elderly (RCFE’s) have become the housing model of choice for our senior population and their loved ones due to the fact that many require increased accessibility, social connectivity, and medical support services that living at home simply cannot provide. As the name implies, RCFE’s, also called assisted living facilities, are often located in suburban residential neighborhoods. Many of these assisted living facilities are permitted to house between 6 – 16 senior adults. As a result, buyers and sellers are often represented by residential real estate agents and brokers who are only familiar with residential mortgage financing. Though residential mortgage financing will suffice when acquiring unconverted residential property it does not when the loan purpose includes ground up construction of a new facility, refinance or acquisition of an existing facility. This makes finding the right financing difficult. That is why it’s important to align yourself with an expert. In an RCFE sale transaction, both sellers and buyers should take note of the following qualifying criteria: Whether the buyer is able to demonstrate direct or equivalent experience which qualifies them to own and operate an RCFE per bank guidelines. The process to re-license an RCFE with a new owner, operator and how that can affect the escrow close date. How the appraised value is determined for purchase transactions, refinances and ground up construction and the impact to down payment percentage requirements. When a Phase 1 Environmental Report is required and when it is not. How to calculate and identify use of square footage to qualify for prime lending rates and terms. Whether the level of medical support services offered at the facility qualifies for prime lending rates and terms. Loan Terms Available For Qualified Borrowers whether ground up construction, refinance or acquisition includes. Minimum 15% equity injection allowing entrepreneurs to keep more capital in reserves for strategic growth and unexpected expenses. Loan closing within 45 – 60 days to meet the demands of escrow. Requesting working capital to meet the demands of short term operating expenses after the transaction closes. Reasonable interest rates and up to 25 year amortization period for easy monthly payments. Flexible pre-payment penalties giving business owners the power to payoff their loan on their terms. If you liked this content, let's connect on social media: Instagram: ⁠https://instagram.com/mysbapro ⁠ Twitter: ⁠https://twitter.com/mysbapro⁠ LinkedIn: ⁠https://linkedin.com/in/ryanpatryck⁠ More ThinkSBA Resources ⁠⁠https://calendly.com/thinksba⁠ - Schedule Call ⁠https://g.page/thinksba⁠ - Google Business Page & Reviews ⁠https://thinksba.com/faq⁠ - Frequently Asked Questions ⁠https://mysbaloanpro.com⁠ ⁠ - My SBA Loan Pro Podcast ⁠https://youtube.com/@thinksba⁠ - YouTube Channel…

My SBA Loan Pro Podcast

1
Collateral Assignment of Life Insurance Requirement For SBA 7(a) & 504 Loan Programs 4:49

4 years тому4:49

4:49

Life insurance is a contract between a policyholder and insurer where the insurer promises to pay the insured's beneficiary an agreed amount upon their death. The most common application is between heads of household and their dependents. Life insurance is also used by commercial lenders as a risk mitigation strategy for loan applicants of privately held, family owned businesses. In the same vein the SBA requires that loan applicants obtain a collateral assignment of life insurance for the lender's benefit when the business is formed as a sole proprietorship or single member LLC and is otherwise dependent on one owner’s active participation. Examples of businesses dependent on one owner's participation include businesses where special training or licenses are required such as doctor's offices, assisted living facilities, contractors, mechanic shops, etc. The required face value amount of the insurance policy for 7(a) loans is determined by the operating businesses industry classification code, loan amount, length of loan term and available collateral. On the other hand, Certified Development Companies (CDC) which fund the 504 2nd Deed of Trust, also known as the Debenture, are mandated to require a collateral assignment of life insurance with a face value amount equaling the Debenture minus the available collateral's discounted liquidation value based on the following schedule: Commercial real property including buildings: 75% of appraised value. Residential real property including buildings: 80%. of appraised value Land only: 50% of appraised value Equipment: 50%.of appraised value Leasehold improvements: 5%. Of appraised value Furniture and fixtures: 5%. Of appraised value Now, pay close attention to these three important points. A collateral assignment of term Life insurance is acceptable to meet the SBA’s requirement. No lender should ever require universal or whole life insurance which are generally more costly.. A loan applicant may assign to the lender or CDC an existing policy that meets their underwriting criteria. A lender can waive the requirement to obtain life insurance if a licensed insurer provides written documentation that the loan applicant is unable to obtain life insurance. Some lenders require denial letters from a minimum of two licensed insurers. As a best practice, I recommend loan applicants discuss the requirement to obtain life insurance with their loan broker or SBA business development officer upon or before the loan is submitted to underwriting or is scheduled to be presented at loan committee. The length of time it takes to obtain life insurance is between one to six weeks, or more depending on the life insurance company’s pipeline density, underwriting practices and the loan applicant's age and health status. If you liked this content, let's connect on social media: Instagram: ⁠⁠https://instagram.com/mysbapro ⁠⁠ Twitter: ⁠⁠https://twitter.com/mysbapro⁠⁠ LinkedIn: ⁠⁠https://linkedin.com/in/ryanpatryck⁠⁠ More ThinkSBA Resources ⁠⁠⁠https://calendly.com/thinksba⁠⁠ - Schedule Call ⁠⁠https://g.page/thinksba⁠⁠ - Google Business Page & Reviews ⁠⁠https://thinksba.com/faq⁠⁠ - Frequently Asked Questions ⁠⁠https://mysbaloanpro.com⁠⁠ ⁠ - My SBA Loan Pro Podcast ⁠⁠https://youtube.com/@thinksba⁠⁠ - YouTube Channel…

My SBA Loan Pro Podcast

1
SBA 7(a) & 504 Real Estate Purchase Loan Application From Start To Funding 6:18

4 years тому6:18

6:18

The most frequently asked question I receive by far is how long does the loan application process take to complete from start to finish. The quick answer is 45 - 60 days. The honest answer is it takes as long as necessary to complete all steps in the process. The next logical question is what are the steps. Here is a list of each step in order with an explanation. Before I begin, I want to emphasize the timeline starts from the day the lender receives the monetary Deposit, usually $2,500 or $5,000 and the signed Letter of Interest or Term Sheet. Step 1: Loan Application Needs List. This needs list is sent to the Applicant by the Lender in preparation for underwriting. Included are General Application Forms and SBA Forms 1919, 413 and 912 if necessary. It typically takes 2 - 4 days for the lender to generate this needs list from receipt of the monetary Deposit and signed Letter of Interest. Step 2: Underwriting. The amount of time to underwrite the loan is 1 - 3 weeks depending on the lender's pipeline density, available underwriters and support resources and outstanding information required by the underwriter to render a decision. Step 3: Credit Decision. The credit decision is announced upon completion of underwriting or the conclusion of ”loan committee.” Some lenders shepherd loan requests through individual underwriters in an underwriting loan center. Other lenders maintain a decision making body referred to as “loan committee.” It takes 5 - 10 days for an underwriter to review a loan application and either return to the applicant with questions or a credit decision, meaning the loan is either approved or declined. Loan committees decide a loan in the committee meeting which is typically held one day per week or every other week. SBA 504 loan requests require a separate SBA Approval called an Authorization which may add an additional 5 - 10 days to the entire application process. Step 4: Commitment Letter. The commitment Letter outlines conditions required to close the loan and is sent to the Applicant 2 - 4 days after loan approval. This step begins the process of ordering third party reports and the collection of closing documents. Step 5: Third Party Reports & Closing Documents. A real estate appraisal is ordered by the lender to be performed by an SBA approved third party appraisal company. The appraisal may take 2 - 3 weeks to complete with an additional 2 - 5 days for lender review. If a business acquisition is included with the real estate purchase, a business valuation is also ordered which also takes 2 - 3 weeks with an additional 2 - 5 days for lender review. Step 6: Quality Control / File Audit. Once all closing documents and third party reports have been completed and approved the lender conducts a final review of all required documents and reports necessary to close the loan which takes 2-5 days. The lender orders loan documents to be prepared for signature when the file is deemed complete. Step 7: Loan Document Preparation. This step takes 1-3 days before loan signing may be scheduled. Step 8: Loan Document Signing. Loan signing takes place immediately after escrow receives lender instructions and loan documents. Step 9: Bank Funding. Loan is funded after the lender receives signed loan documents from escrow and escrow confirms all requirements to close the loan have been met by the Applicant and Seller. If you liked this content, let's connect on social media: Instagram: ⁠⁠https://instagram.com/mysbapro ⁠⁠ Twitter: ⁠⁠https://twitter.com/mysbapro⁠⁠ LinkedIn: ⁠⁠https://linkedin.com/in/ryanpatryck⁠⁠ More ThinkSBA Resources ⁠⁠⁠https://calendly.com/thinksba⁠⁠ - Schedule Call ⁠⁠https://g.page/thinksba⁠⁠ - Google Business Page & Reviews ⁠⁠https://thinksba.com/faq⁠⁠ - Frequently Asked Questions ⁠⁠https://mysbaloanpro.com⁠⁠ ⁠ - My SBA Loan Pro Podcast ⁠⁠https://youtube.com/@thinksba⁠⁠ - YouTube Channel…

My SBA Loan Pro Podcast

1
SBA 7(a) Business Acquisition Loan Application From Start To Funding 5:34

4 years тому5:34

5:34

My SBA Loan Pro Podcast

1
ThinkSBA Small Business SBA Loan Experts 2:16

5 years тому2:16