Anyone work with City National Bank on SBA 7a ? Pretty amazing loan terms

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by a searcher from New York University - Leonard N. Stern School of Business
in Washington, DC, USA

2yrs ago

Anyone work with City National Bank on SBA 7a ? Pretty amazing loan terms

They are offering sub-WSJ prime rates on deals with alot of good wills and low collaterals.

Not sure how easy or difficult they are to work with.

1 Like

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reply by a lender 2yrs ago
from Eastern Illinois University in 900 E Diehl Rd, Naperville, IL 60563, USA

If you have a really good deal, I would definitely recommend pursuing it. However, I can tell you from experience that lenders offering fixed rates or really low spreads on SBA 7A loans are often only lending on the lowest risk deals and are typically not as aggressive as many of the other SBA lenders. I just had a client with a low rate term sheet from a local bank trying to go SBA 7A and the lender pulled out after about a month of underwriting for reasons that were all disclosed up front. I would just be sure you have a backup in place just in case. Please let me know if we can help.

reply by an investor 1yr ago
from University of Oxford in Austin, TX, USA

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