Looking for non-SBA financing

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by a searcher from University of California, Berkeley - Haas School of Business
in San Diego, CA, USA

11mos ago

Looking for non-SBA financing

I am looking for non-SBA financing. I have 1 deal and in order for this to close, I am looking for ~$700k of debt. I am in the process of getting a green card but will likely not receive it before target date of deal close. Therefore, the deal won't be eligible for SBA, and I am looking for alternatives. Any contacts of non-SBA lenders / brokers would be much appreciated!

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reply by an intermediary 11mos ago
from University of California, Berkeley in Berkeley, CA, USA

I was recently reached out to by this firm who seems to do non-SBA financing: redacted

reply by a searcher 11mos ago
from Babson College in Long Island, New York, USA

Since it looks like you're in CA, you should try to look for CDFIs that work with the California Small business loan guarantee program, which is a state-level program similar to the SBA, but with different requirements. It can be a little tricky, but might be your best bet, because quite frankly $700K is too small of a number to be interesting to most institutional private debt providers. You might be able to raise private capital as a debt note, but generally you're not going to find anything close to what you can get for SBA rates. If the business is in a New Markets Tax credit zone, I would check with redacted as they provide a sort of bridge loan product designed to be refinanced in 3-5 years.