Opinions from Community For a White Paper on SBA 504 Loans
Do any CRE owners or loan brokers here know about SBA 504 loans? I am a marketing director for a lender and we specialize in these loans. Only for owner-operators but terms are fantastic. Up to 90% LTV. Wanted to see what the thoughts are on this program. Especially the perceptions of this loan in the negative. I’m developing a white paper for my company on dispelling myths and wanted to ask the community. (No direct quotes would be used.) Just asking for ideas on perception in the community especially among investors who might not know anything about 504 loans.
[{"id": "gky3zto", "text": "Are you guys doing startups? Most of us are in transaction side of things, not operating businesses, so aside from assisting businesses with finding locations, we dont get involved in the 504 process.", "replies": [{"id": "gky8k92", "text": "No. Businesses must be in operation for 3 years. No startups. This loan is for a business owner who is looking to buy property to run own business (ex. Formerly leasing space) or expand by trading up to a larger space. The owner only needs to operate out of 51% of the property, meaning rest of the space can be rented out.", "replies": [], "depth": 2}], "depth": 1}, {"id": "gky9cmj", "text": "yes! Would love that... I recently posted abt trying to figure this out for a client who has been in business for 30 years... no responses", "replies": [{"id": "gky9pho", "text": "I have a bunch I can send that we wrote already. Email me and I can send you the ones we already wrote. This one will be specifically about exposing myths. Lcohen@libertysbf.com", "replies": [], "depth": 2}], "depth": 1}, {"id": "gkybbov", "text": "I\u2019ve very familiar with SBA 504 loans, even taught a few small business training classes about it. Feel free to reach out.", "replies": [{"id": "gltesa3", "text": "I'm a new Corp. Any pointers on filling out the application", "replies": [{"id": "gltfel3", "text": "Sure, what are your questions?", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "gkzew0j", "text": "I just received a roadmap from one of our local SBA lenders that helps show you, as a borrower, what route to take based on what type of loan would be best for you. The SBA is waiving some of their fees abd covering six months of their portion of the mortgage (up to $9,000/month) for loans that originate after Feb 1, so this is an awesome time to educate people as to what they can take advantage of.", "replies": [{"id": "glteypf", "text": "Can you email me all info\nClassyhairdesigns3@gmail.com\nI really appreciate it", "replies": [{"id": "glux79u", "text": "Sure!", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "gmn25vh", "text": "Thanks so much\nI have other questions, I'll post them later\nI would like the white paper, thanks", "replies": [], "depth": 1}]