Has anyone ever transferred an SBA loan?

searcher profile

January 21, 2025

by a searcher from George Mason University in Manassas, VA, USA

From basic research I’ve read it’s possible to transfer an SBA loan to a new lender, but does anyone have any experience with it?

the bank I closed with has been nothing short of terrible. I closed on 9/29 and they have yet to 1) collect the right amount 2) on the right date, and 3) from the right account.

they delayed closing so long from their own internal mistakes (like not order title work until closing, etc) my fees went through the roof, they underestimated closing costs by close to $60k and didn’t know until an hour before closing, and now they’re sending random correspondence and loan statements to people not on my loan.

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commentor profile
Reply by a lender
in Ponte Vedra Beach, FL 32082, USA
^redacted‌ primary option would be to refinance the loan. Do you know if the bank you close your SBA loan with sells them on the secondary market? If yes, you can also wait until it is sold and you will have a new processor. I am happy to have a discussion with you my cell is###-###-#### , email is redacted or my calendly link below to schedule a call directly. https://calendly.com/bturner-thebancorp/45min
commentor profile
Reply by a lender
from University of Missouri in Denver, CO, USA
That sounds rough. I'm sorry that happened to you. That sounds like that Bank is not used to SBA transactions. I agree with Nicholas. The only way to transfer is through a refi. The only way to refi is saving 10% on payment which likely isn't possible unless there was a large rate reduction.
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