Gotta Love SBA Lenders - Can two deals be saved?

December 11, 2025

by a searcher from University of Tennessee - Knoxville in Nashville, TN, USA

Sooooo. . .Was told that we needed to have a loan package submitted to a lender by November 15 or sooner to close on/before Year-End. Did that. Was told that after reviewing the documentation we needed to submit some new, additional documentation. Did that. Then was told that we needed to get a legal document from a former partner of a General Partnership of the Seller to ensure that the business was solely-owned by the Seller. Did that. We closed our confirmatory diligence period yesterday and requested that we get a commitment to close on or before the end of the year before authorizing our transaction attorney to complete their review and draft the Definitive Agreements. Uh Oh! Lender replies this morning that there are too many loans, a shortage of staff, holidays, and that even January 15th may be a challenging closing date. Is this how the industry traps Buyers into closing with them??? We need a reputable SBA lender (is there one?) that understands Accounting and Bookkeeping practices to step into this situation and get this closed ASAP. One's virtual out of UT, the other is in TX, TX-based Buyer entity. We are trying to close both under the same loan.

Reply by a lender
in Falmouth, MA, USA

^redacted‌ Some lenders (even allowed to speak at ETA conferences) set expectations that aren’t very realistic. In business acquisitions, a 60–90 day close is typical. Can it happen in 45 days? Yes. How likely is that? Very low. Based on $400M+ in SBA approvals and being the #1 SBA credit approver, delays show up in almost every transaction. When working with good lenders who set realistic expectations, delays typically come from negotiating the purchase agreement, not lending. In your case, the issue is unrealistic expectations. If you’re confident they can close by Jan 15, you should stay with them - any lender change will almost certainly take longer. If you’re not confident, feel free to reach out at redacted

Reply by a lender
from Cornell University in Los Angeles, CA, USA

H‌i ^redacted‌ - nice to meet you and I am sorry to hear about this. We have a lot experience financing different companies via the SBA. If you ever need help talking through a deal, I am happy to help. We work with all the major SBA lenders spread across 35+ partners. I’m confident we can get this deal closed. From signing a term sheet to funding, you should plan on roughly 60 days, and we’ll actively manage the process, guide you at each step, and position you with the best lender to close smoothly. The bank pays us after your loan closes, so this is a 100% free service for you. You can email me directly at redacted or schedule a meeting with me: https://cal.com/francodeguzman/30min. Look forward to chatting!

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