SBA Loans - which bank is best?

[cash4biz]

Does it matter which bank or financial institution a merchant goes through for an SBA loan? The guarantees are the same regardless right? Or does each bank have its own underwriting and box. What makes one bank preferable to another when it comes to SBA loans? Thank you for your help in advance.

[kevinhenry0527]

It depends on the situation and location. I am not an SBA lender, but many of my friends in Florida are. It seems the super regional and community banks go the extra mile over the large national institutions. If the client is in Florida I would be happy to refer you to some of my friends.

[cash4biz]

It depends on the situation and location. I am not an SBA lender, but many of my friends in Florida are. It seems the super regional and community banks go the extra mile over the large national institutions. If the client is in Florida I would be happy to refer you to some of my friends.

so is it just about the time and effort spent inside the bank underwriting and prepping the docs? An acquaintance told me that they can get sba loans approved in 2-5 days but all along I have heard stories (mostly from others that have experimented with getting a client an sba loan) that it can take a couple months and is a huge headache, not just for them but for the merchnat. I didn't really believe the guy saying 2-5 days. I am naturally suspicious, especially about claims that seem too good to be true.

[sigmund@laynecap.com]

SBA Loans - which bank is best?

try smartbiz.com SBA for working capital to $150,000 and acquisitions to $350,000. fast and close in 10 days depending on your merchant. pay referral fees of flat 1.5% of loan amount.

[Zach]

Celtic Bank has an awesome express SBA program; Smartbiz makes the process much smoother and easier.