Smaller, faster SBA loan?

searcher profile

February 07, 2023

by a searcher in Los Angeles, CA, USA

Does anyone know any lenders who can do relatively smaller SBA loans (<$350-400k), faster (ideally <30 days to disbursement)? Or if not, do you know of any alternative financing options that could do something similar re: terms and speed? Not interested in equity partners or services/lenders like Boopos with high rates.

For more context, it's a hybrid SaaS/service business in the higher education information and consulting space doing ~$250K TTM revenue and ~$150K TTM profit. The seller doesn't want to wait ~3 months for an SBA loan.

0
12
180
Replies
12
commentor profile
Reply by a lender
from California State University, Sacramento in Auburn, CA, USA
Fast turn-around is a function of buyer, seller, and lender. Everyone wants to blame the lender but MOST of my deals run 60 to 90 days, Mostl hover around 90+/- largely because of buyers and sellers (and/or franchisors and/or landlords) and/or appraiser(s). Pick a good lender that will lay out a detailed time-line,and provide you early with a checklist of ALL closing needs items (for a particular deal) BUT expect 90 days.

Please reach out to me directly if I can be of any assistance. I am a 33-year career SBA lender offering SBA loans from $150,000 to $5,000,000. I am BEST reached by cell phone at###-###-#### or redacted We lend n CA, OR, WA, NV, AZ, UT, and CO only.

P.S. a seller in a hurry is ALWAYS a Red Flag - buyer beware!
commentor profile
Reply by a lender
in United States
SBA Express Lender fits in the loan size request per the subject post. I don't know of any SBA Express Lender that can honestly speak to processing and funding a small SBA Express loan within 30 days. Direct SBA Express lenders are hard to find, period. A year ago or so, there was talk that the SBA would tackle small SBA Express loans directly, online, similar to PPP. That was redirected to the SBA back burner after all of the PPP fraud investigations came to a tall order. Anytime a business owner comes to me looking for a small SBA loan, I send them online to https://www.umwsb.com/business-lending/sba-loans-up-to-150k/
commentor profile
+10 more replies.
Join the discussion