How did you pick the right bank?

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January 02, 2025

by an member from University of Washington in Mount Vernon, WA, USA

Hello all,

We've recently gone under LOI and are looking for banks to help finance the deal. What do you look for in your own deals and what bank(s) did you end up working with?

Thanks, and happy new years!

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commentor profile
Reply by a lender
from University of Southern California in Los Angeles, CA, USA
Happy New Year! A great way to ensure you’re working with the right bank is to partner with an experienced SBA loan broker. We understand each bank’s credit box and requirements, and we have relationships with lenders who are active, reliable, and true to their word. A good broker ensures you work with lenders who offer surety of close and will fund at the table on your close date, giving you confidence throughout the process.

The bank pay us after your loan closes, so this is a 100% free service for you. On average, we save searchers 0.5% on their interest rate and close deals 30% faster. When lenders compete, you win. You can reach me here or directly at redacted You can also click here to schedule a meeting with me: https://cal.com/ishan-jetley-3d73m8/30min. Feel free to reach out if you’d like guidance or connections to the right lenders for your deal.
commentor profile
Reply by a lender
from University of Central Florida in St. Petersburg, FL, USA
We’re all selling the same thing to a certain extent (maybe a 25bps or 50bps difference for some?), but the real key is finding a lender who understands your deal, knows SBA SOP, and has a track record of closing similar transactions. At the end of the day, execution is everything. Also, make sure you actually like the person—you’ll be working closely together, and the###-###-#### day process can feel a lot longer if you don’t.
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