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My SBA Loan Pro Podcast

Business & Economics Podcasts

Finally a podcast that reveals valuable insights and best practices regarding the SBA loan program and application process, brought to you by SBA veteran, Ryan Smith, Principal Broker & Founder of ThinkSBA. ThinkSBA is a one of a kind Loan Brokerage serving small business owners and entrepreneurs in their quest to purchase real estate, acquire a business or franchise or obtain working capital.

Finally a podcast that reveals valuable insights and best practices regarding the SBA loan program and application process, brought to you by SBA veteran, Ryan Smith, Principal Broker & Founder of ThinkSBA. ThinkSBA is a one of a kind Loan Brokerage serving small business owners and entrepreneurs in their quest to purchase real estate, acquire a business or franchise or obtain working capital.

Location:

United States

Description:

Finally a podcast that reveals valuable insights and best practices regarding the SBA loan program and application process, brought to you by SBA veteran, Ryan Smith, Principal Broker & Founder of ThinkSBA. ThinkSBA is a one of a kind Loan Brokerage serving small business owners and entrepreneurs in their quest to purchase real estate, acquire a business or franchise or obtain working capital.

Language:

English


Episodes

SBA 7(a) & 504 Real Estate Purchase Loan Application From Start To Funding

2/11/2021
The most frequently asked question I receive by far is how long does the loan application process take to complete from start to finish. The quick answer is 45 - 60 days. The honest answer is it takes as long as necessary to complete all steps in the process. The next logical question is what are the steps. Here is a list of each step in order with an explanation. Before I begin, I want to emphasize the timeline starts from the day the lender receives the monetary Deposit, usually $2,500...

Duration:00:06:18

SBA 7(a) Business Acquisition Loan Application From Start To Funding

1/13/2021
The most frequently asked question I receive by far is how long does the loan application process take to complete from start to finish. The quick answer is 45 - 60 days. The honest answer is it takes as long as necessary to complete all steps in the process. The next logical question is what are the steps. Here is a list of each step in order with an explanation. Before I begin, I want to emphasize the timeline starts from the day the lender receives the monetary Deposit, usually...

Duration:00:05:58

ThinkSBA Small Business SBA Loan Experts

12/3/2020
Applying for a small business loan can be stressful, grueling and confusing when you hear the dreaded NO from your bank. Does this sound familiar? Hello, my name is Ryan Smith, Principal Broker and Founder of ThinkSBA. If you are listening to this podcast it’s likely you are a small business owner or entrepreneur who is purchasing real estate, acquiring a business or franchise or are in need of working capital to grow or start your business. If this describes you, you’re in the right...

Duration:00:02:16

SBA 7(a) Business Acquisition Loan Series - Seller Discretionary Earnings

11/23/2020
Seller Discretionary Earnings referred to as SDE equals net profit, which is the sum of annual revenue minus expenses, plus add-backs of seller discretionary spending. SDE directly impacts enterprise value, buyers equity injection, loan amount, seller carry amount, and debt service coverage ratio which ultimately determines whether a loan application is approved or declined. Common expenses added back by sellers beyond Interest, Tax, Depreciation and Amortization include officer salary and...

Duration:00:05:55

Demystifying The SBA Loan Application - Crossing The Finish Line!

11/5/2020
The most important step in the SBA loan application process is closing the loan. This is obvious, right? You would think so. However, many applicants make the mistake of focusing their attention on closing after it’s too late, and they've missed a critical step or piece of information that inevitably prevents them from closing the loan. An SBA loan is considered closed after a loan number has been assigned by the bank and boarded to their loan management platform, applicant and bank funds...

Duration:00:04:42

The Benefits of Hiring an SBA Small Business Loan Broker

10/21/2020
Navigating the SBA loan program and application process can be complicated. For starters, the entire SBA loan program, including borrower eligibility requirements and all policies and procedures, is governed by the SBA’s Standard Operating Procedures Manual also known as the SOP for short. The SOP is a 400 page document filled with industry jargon and references. To make matters worse, it is regularly updated making it nearly impossible for an applicant to know everything necessary to...

Duration:00:05:26

The Science of SBA Loan Approval

10/8/2020
Are you a business owner or entrepreneur applying for an SBA loan or planning to in the near future? If your answer is yes, then keep listening because this podcast was recorded specifically for you. In this podcast I reveal the science of obtaining SBA loan approval. That’s right, being approved for an SBA loan is a science and is based on the following five fundamentals. The first fundamental is Experience, the second Liquidity, the third Personal Credit History, the fourth Cash Flow and...

Duration:00:06:20

Why The SBA 7(a) Loan Program Is The Best Financing Option To Buy-Out A Partner

9/19/2020
Business succession planning is vital to the longevity of any business. This is especially true when a business is owned by two or more individuals, for seldom do business partners share the same retirement and life goals. Therefore, a business is most likely to experience an interruption or even worse, the ceasing of operations altogether, when one partner is ready to exit the business and the others are not. This matter is further complicated when the partnership also owns both the...

Duration:00:04:39

Demystifying The SBA Loan Application - The Commercial Appraisal Report

8/18/2020
Business owners purchasing or refinancing commercial real estate financed by an SBA 504 or 7a loan are required to hire a certified commercial appraiser to prepare a commercial real estate appraisal report which includes the “as is” value of the subject property on the day the report is delivered to the lender. Every loan applicant needs to know the following regarding the commercial appraisal report.

Duration:00:04:43

SBA Loan Update - August 8, 2020

8/8/2020
The World of SBA Lending - 0:46 The World of Conventional Lending - 4:01 What’s In My Loan Pipeline - 6:41 My Greatest Compliment - 9:43 Online Loan Application - 11:09 A Message To My Friends (You Know Who You Are) - 13:15

Duration:00:14:33

Demystifying The SBA Loan Application - Landlord Lien Subordination And Collateral Access Agreement

8/7/2020
The Landlord Lien Subordination And Collateral Access Agreement is required to be executed during the loan closing process when an applicant receiving an SBA loan has secured an interest in real property through a commercial lease. Parties to the agreement include the SBA Lender, who is referred to as the Lender, the SBA loan applicant, who is referred to as the Tenant and the Landlord who owns the premises occupied by the Tenant, who is referred to as the Landlord. The purpose of this...

Duration:00:05:09

Demystifying The SBA Loan Application - SBA Standby Creditor’s Agreement Form 155

7/23/2020
Contrary to popular opinion SBA Loans are quite flexible. Case in point, The SBA Standby Creditor’s Agreement. This Agreement establishes the interest rate and loan terms of a promissory note between the buyer, referred to as the Standby Borrower and the Seller, referred to as the Standby Creditor, to mitigate three fundamental credit weaknesses in the loan application.

Duration:00:06:14

Demystifying The SBA Loan Application - The Gift Letter

7/23/2020
There are many instances where borrowers applying for an SBA loan to purchase real estate, acquire a business or franchise or obtain working capital for growth do not possess the required 10% minimum equity injection. The good news is that the SBA permits the applicant to receive a monetary gift to assist with the equity injection. This gift may be given by any willing participant.

Duration:00:03:23

Demystifying The SBA Loan Application - SBA Fee Disclosure and Compensation Agreement Form 159

7/7/2020
November 1st, 2018 the SBA combined SBA Form 159(7a) and SBA Form 159(504) into one form known simply as Form 159. Form 159 requires applicants to disclose services and fees charged by an Agent hired in connection with applying for an SBA loan whether a 7(a) or 504. The purpose of this form is threefold. The applicant is required to complete the form after the loan has been approved.

Duration:00:04:45

Demystifying The SBA Loan Application - SBA Schedule of Liabilities Form 2202

6/30/2020
Form 2202 must be completed on behalf of the subject business requesting the loan and all affiliate businesses. Affiliate businesses are defined by the SBA as any business owned 51% or more by a 20% or more owner of the subject business. Form 2202 documents the subject business and affiliate businesses monthly debt obligations which is essential to determining the debt service coverage ratio or dscr for short and debt to tangible net worth ratio also known as leverage. Both The dscr and...

Duration:00:04:09

The State of SBA Lending Address

6/23/2020
Hello and welcome to the State of SBA Lending Address presented by yours truly, Ryan Smith, Principal and Founder of ThinkSBA. I help business owners and entrepreneurs find the right loan to purchase real estate, acquire a business or franchise or obtain working capital to grow or start their business. State of SBA Lending Address Topics

Duration:00:11:04

Demystifying the SBA Loan Application - SBA Statement of Personal History Form 912

6/17/2020
The SBA Statement of Personal History Form 912 must be completed by everyone who answers yes to questions 18 or 19 on SBA 7(a) Borrower Information Form 1919, Section II: Principal Information. These questions ask whether the individual principal applying has been arrested within the last six months or whether they have EVER, I want to stress EVER, been convicted, pleaded guilty, pleaded nolo contendere, been placed on pretrial diversion or been placed on any form of parole or probation for...

Duration:00:03:56

Demystifying the SBA Loan Application - SBA 7(a) Borrower Information Form 1919

6/9/2020
The SBA 7(a) Borrower Information Form 1919 is required to be completed by every individual with 20% or more ownership in the applicant business entity whether applying for an SBA 7a or 504 loan. Completing this form is not complicated but there are a few things that are important to know. First, the form consists of 26 questions spanning two sections, The first section pertains to the Applicant business and the second section to it’s individual principals or owners. Before answering the...

Duration:00:04:30

Demystifying The SBA Loan Application - Form 413 Personal Financial Statement

6/1/2020
The Personal Financial Statement, often referred to as a PFS for short, is one of the most important documents to the loan application. The PFS must be completed by all individuals who own 20% or more of the borrowing entity and is to include all personal assets, liabilities, annual income and debt obligations. I want to stress personal financial information, not business. I will address what is necessary to properly document Business financial information in future episodes. The PFS...

Duration:00:04:02

Why The SBA 7(a) Loan Program Is The Best Financing Option To Acquire An Existing Business

5/20/2020
One of the most popular ways to become a business owner is to acquire an existing business. And the easiest way to qualify for financing is through the SBA 7a program. Before I highlight the advantages of the 7a program, I’d first like to raise the point that acquiring an existing business is not always the best route to becoming a business owner. In some cases it makes better financial sense to start a new business rather than acquiring an existing one. Here’s the test I like to apply. If...

Duration:00:05:40