I'm not personally familiar with Velocity / New Day Commercial Capital. We are the largest SBA loan broker for acquisitions and I have never come across them. Here's what I'd check before working with any lender introduced through a broker: First, verify they're actually an SBA Preferred Lender (PLP) if you're going the SBA route. PLP status means they can approve loans in-house without sending it to the SBA for review, which saves 2-4 weeks on closing. If they are a broker, why work with a new broker when you can work with someone like us with 100's of SBA loan closings under our belt. Second, ask how many acquisition loans they've closed in the last 12 months and in your specific industry. A lender that does mostly startups or working capital lines will handle a change-of-ownership deal very differently than one that specializes in acquisitions. Third, get clarity on their equity injection requirements, whether they'll allow a seller note on standby, and their typical timeline from application to funding. These three things vary wildly between lenders and are usually where deals get stuck. Business brokers refer lenders they have relationships with, but that doesn't always mean it's the best fit for your deal. Feel free to DM me if you want a second opinion on whether they're a good match for your situation.

Velocity is a non-bank SBA lender. Historically they have focused on more real estate transactions and have not been as active in business acquisitions. I hope that helps. If you need any additional assistance finding financing, we would be happy to connect. You can reach me here or directly at redacted