Podcasts by My SBA Loan Pro Podcast

Demystifying The SBA Loan Application Process - Defining The Term Retrade from 2023-07-31T18:45:50

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 term...

How To Bulletproof Your Business Acquisition from 2023-07-12T15:04:06

All self funded searchers pursuing ETA, listen up. This podcast episode contains a comprehensive overview of the acquisition process including the following topics.

After list...

SBA Procedural Notice SOP Update 2023 from 2023-07-04T19:08:31

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...

SBA Loans Industry Update May 1, 2023 from 2023-05-03T06:16:20

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:

• L...
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My SBA Loan Pro SBA Financing Industry Update For February 2023 from 2023-02-09T23:48:33

In this episode, your SBA Loan Pro, Ryan Smith covers the following SBA Financing Topics:

1. Access to capital
2. Types of transactions being financed
3. Lender process...
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SBA Financing For Residential Care Facilities For The Elderly from 2023-02-09T22:32:50

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 accessibil...

Collateral Assignment of Life Insurance Requirement For SBA 7(a) & 504 Loan Programs from 2021-09-15T00:35:46

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 betw...

SBA 7(a) & 504 Real Estate Purchase Loan Application From Start To Funding from 2021-02-11T00:10:42

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...

SBA 7(a) Business Acquisition Loan Application From Start To Funding from 2021-01-13T21:30:23

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...

ThinkSBA Small Business SBA Loan Experts from 2020-12-03T22:40:02

Applying for a small business loan can be stressful, grueling and confusing when you hear the dreaded NO from your bank.  Does this sound familiar?

Hello, my name is Ryan Smith, Prin...

SBA 7(a) Business Acquisition Loan Series - Seller Discretionary Earnings from 2020-11-23T20:38:45

Seller Discretionary Earnings referred to as SDE equals net profit, which is the sum of annual revenue minus expenses, plus add-backs of seller discretionary spending.

SDE directly impact...

Demystifying The SBA Loan Application - Crossing The Finish Line! from 2020-11-05T20:57:20

The most important step in the SBA loan application process is closing the loan. This is obvious, right?  You would think so. However, many applicants make the mistake of focusing their att...

The Benefits of Hiring an SBA Small Business Loan Broker from 2020-10-21T21:35:33

Navigating the SBA loan program and application process can be complicated.

For starters, the entire SBA loan program, including borrower eligibility requirements and all policies and pro...

The Science of SBA Loan Approval from 2020-10-08T20:55:20

Are you a business owner or entrepreneur applying for an SBA loan or planning to in the near future?  If your answer is yes, then keep listening because this podcast was recorded specifical...

Why The SBA 7(a) Loan Program Is The Best Financing Option To Buy-Out A Partner from 2020-09-19T01:29:05

Business succession planning is vital to the longevity of any business.  This is especially true when a business is owned by two or more individuals, for seldom do business partners share t...

Demystifying The SBA Loan Application - The Commercial Appraisal Report from 2020-08-18T17:52:48

Business owners purchasing or refinancing commercial real estate financed by an SBA 504 or 7a loan are required to hire a certified commercial appraiser to prepare a commercial real estate appra...

SBA Loan Update - August 8, 2020 from 2020-08-08T11:00

The World of SBA Lending - 0:46

• SBA Lenders are actively approving and closing loans.
  
• Everyone's pipelines are flush with loan originations.
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Demystifying The SBA Loan Application - Landlord Lien Subordination And Collateral Access Agreement from 2020-08-07T11:00

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...

Demystifying The SBA Loan Application - SBA Standby Creditor’s Agreement Form 155 from 2020-07-23T17:07:58

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 promi...

Demystifying The SBA Loan Application - The Gift Letter from 2020-07-23T17:01:18

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% mi...

Demystifying The SBA Loan Application - SBA Fee Disclosure and Compensation Agreement Form 159 from 2020-07-07T11:00

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...

Demystifying The SBA Loan Application - SBA Schedule of Liabilities Form 2202 from 2020-06-30T11:00

Form 2202 must be completed on behalf of the subject business requesting the loan and all affiliate businesses.

Affiliate businesses are defined by the SBA as any business owned 51% or mo...

The State of SBA Lending Address from 2020-06-23T11:00

Hello and welcome to the State of SBA Lending Address presented by yours truly, Ryan Smith, Principal and Founder of ThinkSBA.  I help business owners and entrepreneurs find the right loan ...

Demystifying the SBA Loan Application - SBA Statement of Personal History Form 912 from 2020-06-17T17:48:43

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.<...

Demystifying the SBA Loan Application - SBA 7(a) Borrower Information Form 1919 from 2020-06-09T17:10

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...

Demystifying The SBA Loan Application - Form 413 Personal Financial Statement from 2020-06-01T20:39:36

The Personal Financial Statement, often referred to as a PFS for short, is one of the most important documents to the loan application.

The PFS must be completed by all individuals who ow...

Why The SBA 7(a) Loan Program Is The Best Financing Option To Acquire An Existing Business from 2020-05-20T16:29:37

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 7a program.

Before I high...

Answers To The 10 Most Frequently Asked Questions I’ve Received Regarding PPP Loans from 2020-05-11T18:01:35

In this episode I will answer the 10 most frequently asked questions I have received from business owners regarding the Paycheck Protection Program. 

Can I use loan proceeds to hire ...

How To Finance Ground Up Construction And Tenant Improvements With The SBA 504 & 7(a) Loan Programs from 2019-12-08T00:00

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 a...

How To Avoid The Pre-Payment Penalty Trap from 2019-12-02T00:00

Many small business owners are unfamiliar with pre-payment penalties associated with purchasing or refinancing commercial real estate through the SBA 504 or 7a guaranteed loan programs. So let me e...

How To Build Wealth Through The SBA 504 Loan Program from 2019-12-02T00:00

How To Build Wealth Through The SBA 504 Loan Program The SBA 504 Loan Program is a Federal Government Guarantee program designed to incentivize business owners to purchase commercial real estate t...

Are All SBA Lenders Created Equal? from 2019-09-16T00:00

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, di...

What Is An SBA Non-Bank Lender And Why Do They Exist? from 2019-08-18T00:00

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 o...

What Is A Multi-Purpose Property? from 2019-08-12T00:00

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-purp...

What Is A Single-Purpose Property? from 2019-08-11T00:00

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-purpos...

Do I Need To Personally Guarantee An SBA Guaranteed Loan? from 2019-07-29T16:08:59

Do I Need To Personally Guarantee An SBA Guaranteed Loan? The answer is yes, let me explain. It’s important to understand that the applicant or borrower is the business, not the individual owners...

Will An SBA Guaranteed Loan Require That I Pledge My Personal Residence As Collateral from 2019-07-20T00:00

Not every individual obtaining an SBA guaranteed loan is required to pledge their personal residence or any other real estate owned as collateral. However, banks, credit unions and non-bank lender...

How SBA 504 Loan Interest Rates To Purchase Real Estate Are Determined from 2019-07-18T00:00

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 Corpor...

How SBA 7(a) Loan Interest Rates Are Determined from 2019-06-28T00:00

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 det...

Can An Individual With An E-2 Visa Acquire A Business With An SBA 7(a) Loan? from 2019-06-16T00:00

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...

How Much Of A Cash Injection Is Required To Qualify For An SBA Guaranteed Loan? from 2019-06-15T00:00

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 fi...

SBA 7(a) Guaranteed Loan Program To Purchase or Refinance Real Estate Explained from 2019-06-10T17:22:06

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 determinin...

SBA 504 Guaranteed Loan Program To Purchase Real Estate Explained from 2019-06-08T00:00

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 Corpor...

Do I Need Financial Projections To Qualify For An SBA Working Capital Loan? from 2019-06-06T18:37:38

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 t...

Do I Need a Business Plan To Obtain an SBA Guaranteed Loan? from 2019-06-06T18:35:25

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 exe...

Is Collateral Required To Qualify For An SBA Guaranteed Loan? from 2019-05-04T00:00

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 reque...

How Long Does The SBA Guaranteed Loan Process Usually Take? from 2019-05-01T00:00

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 tim...

What Is An SBA Guaranteed Loan And Who Is Eligible? from 2019-04-27T00:00

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...