Experience with SBA Lenders and Feedback

May 04, 2025

by a searcher from Duke University in Tulsa, OK, USA

I am currently in the process of acquiring another company, which I plan to merge with my existing business. As part of this effort, I am exploring options to refinance my current SBA debt and fully utilize my SBA loan capacity. Based on the lessons learned from my first SBA loan, I intend to evaluate potential lenders more thoroughly—considering factors beyond just the interest rate. Specifically, I am looking for a banking partner that offers: No lien on my primary residence — This is a mandatory requirement. Automatic reconciliation with QuickBooks — My current bank lacks this integration, and it's a key feature I need. ACH vendor payment capabilities with low fees — I need efficient, cost-effective vendor payment processing. A $500,000 line of credit — To support working capital needs during and after the merger. A strong reputation for working collaboratively with borrowers — I want a lender known for supporting clients through temporary earnings declines rather than moving quickly to foreclose. I’d be happy to hear everyone’s experiences with major banks and their overall recommendations—both positive and negative.

Reply by a searcher
from Emory University in Tucson, AZ, USA

After relocating in 2019, we met with seven national, regional, and local banks, receiving four offers that differed significantly from each other. We learned from the exercise not to assume which banks would be the best fit, as their priorities varied. Some banks were adjusting +/- their industry exposure, others saw opportunities in bundling services like cash management with LOC, some had a deeper understanding of the benefit of accounts receivable insurance, etc. Perhaps 7 banks is a bit overkill, but if you have the time, we found it worth the process. Once you build the company narrative, financials overview, and data room, it doesn't take much time to chat with bankers. And, we were too new to the region, so we couldn't drive referrals from other business owners, financial advisors, or chamber/industry organizations - all of which would have been a shortcut.

Reply by a lender
from Eastern Illinois University in 900 E Diehl Rd, Naperville, IL 60563, USA

I would be happy to have a discussion. We are a Commercial Loan Brokerage shop with direct lending relationships with over 500 financial institutions. We can do both conventional debt as well as SBA debt lending. We have the data you are looking for on just about all of our institutions. You can reach me here or directly at redacted

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