Life insurance?

by a searcher from University of Virginia-Darden - Darden School of Business

1 year ago

For anyone doing an SBA loan that has gotten their life insurance policy already, is there anything to know or is it pretty straightforward? Thx!

3 likes
146 views
14 comments

searcher

When we applied for our loan this was one of the harder things to understand... Why they needed the same size policy as the loan, but it is what it is. Like Morli said go ahead and get it done early. The lender should be able to connect you with their preferred list quickly.

11 months ago | like reply | 1 like

searcher from New York University - Leonard N. Stern School of Business

Some SBA lenders I spoke to wanted a policy as big as the loan, another one (Byline Bank) only needed a portion of the loan size.

11 months ago | like reply | 0 likes

More on Searchfunder

Just Closed on My First Deal! Reflections and Takeaways for other Searchers

45,152 transactions are available on Searchfunder (now searchable by keyword)

Now everyone has unlimited IBISWorld access

Family office looking for traditional searchers

Examples of self-funded searcher websites

What are market terms for Seller Notes?

2 Best Ways To Find Motivated Sellers, Off-Market Deals

Sorry, but you are a broker's worst nightmare ... and how to fix it

Searchfunder is an online community and toolkit for searchfunds. Over 80% of those involved in searchfunds maintain a Searchfunder.com account to help them network, problem solve challenges, and keep up with the industry.

We maintain partnerships with database providers that make searching more effective, efficient and affordable along with features that help searchers find deals and investors and vice versa.