SBA Broker vs SBA Direct

July 24, 2023
by a searcher from Columbia University in Edgewater, NJ 07020, USA
It seems that working with a broker is a good idea. They have relationships with the different lenders, and can help keep the process organized streamlined for the lenders underwriting process. It also my understanding that they are paid by the lender, so it doesn't influence the economics of your loan.
With that said, I saw a post asking for lenders and specifically requested no brokers. What am I missing?
from Eastern Illinois University in 900 E Diehl Rd, Naperville, IL 60563, USA
from Oklahoma State University in Memphis, TN, USA
It's a tough world because nearly every bank says they make SBA loans, but lots of banks don't have all that much experience with them. Going with a well-respected broker will likely increase your likelihood to close timely. The same can be said about specialized, experienced lenders.