SBA 7(a) Loans; How To Get Approved, The Process
HTML-код
- Опубликовано: 30 сен 2024
- 👉🏽 www.sbaexperie...
GET STARTED (No Credit Pull)
www.sbaexperie...
SCHEDULE A FREE CONSULTATION
calendly.com/s...
On this video I cover SBA 7(a) loans, what is required to get started with an SBA 7(a) loan application, what to expect in the process, and how to get approved.
SBA 7(a) Loans; How To Get Approved *
SBA 7(a) BUSINESS FUNDING ASSESSMENT
www.orangefi.c...
THE APPROVED GUY WEBSITE
www.theapprove...
My name is Sebastien Boyer and I am The Approved Guy.
On this channel, I discuss relevant topics, provide free classes, hot tips, business resources, and fresh interviews!
I cover a wide range of content, from starting a business to personal credit, business credit, financing, debt management, growing wealth, protecting wealth, and giving.
My purpose is to bless others with Kingdom principles and truth along with practical information that can be used to improve their quality of life and to encourage them to take action. I am especially energized when helping someone to overcome their fears of starting a business and launching out as an entrepreneur. This is one of the first steps in becoming an owner, a creator, and an influencer in your own Kingdom.
PERSONAL CREDIT SUPPORT
www.universolc...
DEBT MANAGEMENT VELOCITY BANKING
www.debtelimin...
INFINITE BANKING & RETIREMENT PLANNING
www.metalifepl...
#sba7aloans #sbaexperience #theapprovedguy #sba7aapproved #sba7aprocess
Disclaimer: Sebastien Boyer or THE APPROVED GUY and its affiliates do not provide tax, legal, or accounting advice the information presented on this website is presented for information purpose only, and following the advice in this video is the responsibility of the viewer and not the video creator. By participating in this RUclips page, you agree to comply with the following guidelines. In any case, the information provided is “as is” with all faults and without warranty of any kind, expressed or implied. In no event shall Sebastien Boyer, or any affiliate organization be liable for any damages, lost profits, or lost data even if we have been informed of the possibility thereof.
Advertiser Disclosure: Some of the links and other products discussed and presented are from companies that Sebastien Boyer may have a relationship with and earns a commission.
Music: www.bensound.com
SCHEDULE A CALL WITH ME
👉🏽 www.theapprovedguy.com/schedule-a-call
“A lot of people’s dreams die in the parking lot of banks” BAR
I thought SBA required less money down which was the point in going to the SBA in the first place. 🤷🏾♂️
Typically SBA 7(a) loans and/or 504 loans require 10% down. It can be more or less. Depending on the situation and the bank. I've had clients required to put down 20% and I've also had clients only required 2% to 5%. You have to go through the process and see, but anticipate at least 10% down.
If I need a 200 k loan, I need 60 k (30%) in the bank and 20k (10%) down? thats not much of a loan then?????
If you’re a pure startup the deposit will be 20% to 30% with 10% reserves. If it’s a business acquisition or franchise startup it can be 10% down with 10% reserves. If you have 2 years tax returns the deposit can be much less reserves the same, but business performance must be strong..
@@theapprovedguy do you have an email or website?
Go to www.sbaexperience.com and schedule a call or submit your request. That is one of my websites.
If I want to buy an existing business, will an SBA get approved based on the business or me personally?
The answer is both.
My brother and I are looking to start an RV park business on 15 acres we've already purchased. We plan to live on part of the property and run the business on the larger part of the property. We want to get an SBA loan to get it started. Are we eligible? We will run the business ourselves including maintenance, reservations, customer service, etc. Please advise.
Happy to help... Can't really help via chat. Will need to discuss. Please schedule a call.
Where can I get some one to help with a business plan?
This sounds excellent. Thank you for being open and honest with this information
My pleasure!
Can I cross collateralize my residential homes to purchase commercial using the sba 7 loan?
Please schedule a free consultation.
I want to purchase a business in Hawaii and is around $120k with my wife.
How can I start this process, should I apply first for a 7a loan or talk with the seller and get all the info.
I want to learn and be guide in this process.
Hi @dennisfloresurrutia7588 Please start at my SBA website’s get started form. It will lead to schedule a call with me. www.sbaexperience.com/get-started
Great website. I scheduled a consult next Thursday. Thanks!
Awesome! Thank you!
@@theapprovedguy you’re welcome. Looks like you run a highly functional machine. I appreciate that! I do my best to do the same. Looking forward to meeting you
so theres no hope for my company then. Drowning in debt interest, need to consolidate the debt as well as need some capital. No money in the bank no hope for the company
How's your credit? SBA is not the only option.
@@theapprovedguy was 660 4 months ago. Now it is closer to 600 due to credit utilization maxed out.
It's going to be difficult with those scores.
Scheduled a call with you for Friday. I have two companies looking to get Funding for
I look forward to our call.
How do I get a landlord waiver form?!?
Can you do a video on the new SBA 7(a) loan SOP (Effective Date Aug 1, 2023)?
I can! I will… I didn’t want rush and put it out until all of the banks have a chance to decide how they would or would not implement it. Coming soon!
What is the credit score requirements for a sba 7 loan
It varies depending on the banks. SBA says the threshold is low, but most banks won’t lend with anything less than 680. The question is why is it low? Do you have late payments, charge offs, or collections? Or is it a lack of death and history? Or is it high credit utilization?
Thank you for your knowledge my brother! 🙏🏾
Does 7A loans work for upcoming musicians?
SBA would probably not be the right option, but there are other programs I can help you with.
I'm looking into buying an already established rv park. And I have no savings or assets but a greaaat credit score. How do I do this? I will find the 10 to 15 percent down through family or investors.
Isent there another loan for sba that co exists with the sba 7. That covers what cost may be needed for fixing or expanding the business.
Hi Arica, I’m happy to assist you on a free consulting call. Please schedule a call calendly.com/sebastienboyer/the-approved-guy-sba-call
Would love to talk to you about options etc. How do i get in contact with you?
Hi Jonathan, Please book a free consult with me here calendly.com/sebastienboyer/theapprovedguy
I look forward to speaking with you! -Seb
Is there funding for an Auto Repair Shop. We owned the property.
Hi Andrew, Yes there is! Please schedule a call if you want my help.
Would you consider purchasing a business that’s selling for more than what SBA approved them for? A business I am interested in is SBA approved for 200k but selling for 300k
Hi James, In my experience SBA lenders typically don't want to lend you more than you need or less than you need. They will want to know how are you going to cover the balance. I'm happy to assist you. If you'd like a free consult, please schedule a call. calendly.com/sebastienboyer/the-approved-guy
You would need to get a loan to get a loan.
Sometimes that is the solution.
How can I schedule an appointment with you to apply for a loan?
Please schedule a call using this link calendly.com/sebastienboyer/theapprovedguy
Great channel. Would like to chat with you concerning SBA loan. New subscriber here 👌
Hi World Wide Hustlers! Thank you for subscribing and for reaching out. Please schedule a free consultation here calendly.com/sebastienboyer/sba-call
I look forward to speaking with you soon!
@@theapprovedguy we spoke Sunday night already. This is Matt. Coffee guy.
What if you've been running a sole proprietorship for 10 years in one field, but want out of that field, and are looking to purchase a profitable 10+ year-old business in a totally different industry? Does your resume make or break a deal?
It can depending on the bank/lender. They will look at all aspects of the loan and determine if there is enough strength overall for it to make sense.
GET STARTED (No Credit Pull)
www.sbaexperience.com/get-started
SCHEDULE A FREE CONSULTATION
calendly.com/sebastienboyer/sba-call
Your video was very helpful and informative. I'm in North Jersey and I would like to open up a laundromat. I am wondering what the process would be to apply for the 7a loan as equipment will need to be leased or financed etc.
I’m happy to help! Please submit my app to get started on www.SBA experience.com it will then lead you o schedule a call to discuss. I look forward to our call.
www.theapprovedguy.com/schedule-a-call
Hey I’m trying to get into the Airbnb business will the 7A loan be best for me ?
Hi Janine’s, Unfortunately, no SBA 7(a) or 504 can’t be used to purchase any residential property. They can only be used to purchase commercial property and even then, you would have to occupy at least 51% of the property yourself with your own business. I do have other funding programs I can help you with for real estate investing. Please feel free to reach out or schedule a call. Thanks for watching and posting your question!
Does 7 Eleven illegible for this kind of loan?
Hi Jagdish, Yes! I can get you approved. Please schedule a call to discuss calendly.com/sebastienboyer/theapprovedguy
Do you offer coaching?
Hi, Yes I do. We can start with a free consultation. Please schedule here….. calendly.com/sebastienboyer/sba-experience-intro-call
Does entertainment company qualify ?
Yes, it can! Feel free to schedule a call.
I just need 20/30k
Please schedule a call or submit my business funding assessment application www.theapprovedguy.com I cal most likely deliver that for you unsecured.
What would you recommend for someone who’s business just started (8 months) , 750 credit score, and 40k cash on hand , the probability of getting a loan to buy a semi truck (about 120k )?
Hey Oso, That questions deserves a one-on-one. You should book a call!
You can get a loan easily.
Do you work with Disabled Veterans? Can you do a video for veterans who would like to apply for the SBA 7 (a) start up loan?
Hi Mone, Everything is the same. The banks may waive certain packaging fees for veterans which will save you money in the closing process.
I currently own & operate a food truck business in Michigan. I have found a vacant 1,100 sq restaurant that is fully equipped &
up for sale. I'm interested in purchasing the property to scale my current food truck business. Any additional information regarding a SBA loan is greatly appreciated.
Im in a very very similar boat! We have a taco shop right now and want to open a new one in a place that just shut down. Did you have any success?
Do you work with Trustmark Bank?
Hi Aki, I'm not currently working with them. I work with many other banks that are actively funding my clients.
I want to purchase a long established profitable business. With an SBA loan do they still require personal tax returns or only the business tax returns I’m buying?
Asking because it’s actually going to be put in my girlfriend/common law Wife’s name and she only has reported taxes of 20k per year.
The business we want to buy would be in the 100k-150k range.
Hi Nick, They will be looking closely at anyone that is 21% or more owner. They are required to be a guarantor. They will be looking at both personal and/or business returns and financials of the guarantors. They will also look at the returns from the seller to determine if the business is a good investment.
@@theapprovedguy the seller personal Tex returns are required too or just the business tax returns? Also, with only 20k reported personal income taxes, what can she qualify for? Have you ever got someone approved for an FHA loan with low income tax returns?
@@theapprovedguy Did you get my last message? Just wanted to confirm thanks
Just the sellers business tax returns.
Please schedule a free consultation if you would like my help. calendly.com/sebastienboyer/the-approved-guy-sba-call