Building Lender Relationships

searcher profile

February 22, 2026

by a searcher from The Ohio State University - Max M. Fisher College of Business in Chicago, IL, USA

I have seen a lot of posts highlighting the lender process when using a SBA loan broker, but I do not intend to use one, at least to start, so am curious on the process for those who did not use a broker. I am kicking off a self-funded search and want to know how others approached lenders? Did you engage with lenders before identifying a potential business or submitting an LOI? Do lenders provide any sort of preliminary commitment letter (subject to further diligence, of course) to give a seller confidence I can raise the necessary capital? I intend to reach out to local banks and credit unions in my area, but also would like to hear if anybody has any recommendations for more national players (e.g., Live Oak, etc.)
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commentor profile
Reply by a lender
from University of Utah in Sandy, UT, USA
Byline Bank is a great option. We are a national SBA lender and our HQ is local to you in IL. redacted or###-###-####
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