SBA Lending 101
Manage episode 424456628 series 3563136
SBA LENDING 101
"Let's Chat with Jim Parker Business Broker" is proudly affiliated with the BBP Podcast Network
EPISODE: 12
RELEASE DATE: June 19, 2024
YOUTUBE CHANNEL: https://www.youtube.com/@JimParkerBusinessBroker
WEBSITE: https://www.JimParkerBusinessBroker.com
In this episode of "Let's Chat," join host Jim Parker as he converses with SBA lender Tammy Roberts (née Teece) from Live Oak Bank. They delve into the fundamentals of SBA lending, highlighting the benefits, requirements, and processes involved. With nearly 25 years of experience in business brokerage, Jim stresses the advantages of pre-qualifying businesses for SBA loans and the steps needed to ensure smooth transactions. Tammy shares invaluable insights on pre-qualifying buyers, navigating loan underwriting, managing closing timelines, and more. This informative episode is a must-watch for business brokers, prospective buyers, and sellers looking to better understand SBA loans and their impact on small business growth. Don't miss out on learning crucial tips that can help you succeed in your business transactions.
To connect with Tammy:
239.272.8145
Join the discussion! Like, share, leave a comment, and for more from "Let's Chat," subscribe on YouTube @JimParkerBusinessBroker
00:00 Introduction and Guest Welcome
00:48 Meet Tammy Tease: SBA Lending Expert
02:47 Understanding SBA Lending Basics
03:10 Advantages of SBA Loans
08:36 Pre-Qualifying a Business for SBA Loans
17:08 Pre-Qualifying Buyers for SBA Loans
25:22 The SBA Loan Process: From Offer to Approval
28:19 Understanding Home Equity Requirements
28:56 Importance of Life Insurance in Deals 3
0:06 Personal Guarantees and Spousal Involvement
31:49 Credit Scores and Background Checks
34:33 SBA Loan Application Process
40:12 Challenges and Solutions in Closing Deals
44:40 Virtual Closings and Final Tips
47:49 Conclusion and Call to Action
TOPIC KEYWORDS:
Jim Parker, business broker, SBA Loans, SBA Lending, SBA, small business, Tammy Roberts, Live Oak
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