Bank suggestions

searcher profile

August 13, 2020

by a searcher in San Antonio, TX, USA

I am a self-funded searcher looking for a bank to get a personal loan with that can be leveraged for equity injection on a SBA 7a loan. It is my understanding that to do this the personal loan has to be able to be paid free of the business. As a service-disabled vet I get a monthly disability that I could leverage. Any good bank suggestions?

0
3
96
Replies
3
commentor profile
Reply by a lender
in Yorba Linda, CA, USA
Technically, the SBA rules do not allow for an equity injection to be borrowed. However, if it is done well before applying for an SBA loan, it will generally be viewed simply as cash on your personal financial statement. I suggest checking with a local credit union for the personal loan.
commentor profile
Reply by a lender
from California State University, Sacramento in Seattle, WA, USA
Adding onto my partner's comment above, we specialize in military veteran lending and would like to meet you when you're ready.
commentor profile
+1 more reply.
Join the discussion