Local SBA lender relationship vs. shopping the deal through a broker

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May 04, 2026

by a searcher from Emory University - Goizueta Business School in Boston, MA, USA

Trying to figure out the right approach on SBA financing and curious how others have weighed this. Option A: Build a relationship with a local SBA lender(s) during search, before I have anything under LOI. They get to know me and the thesis, and we can move fast when a deal materializes. Option B: Wait until I have a deal, then use a broker to run a competitive process across multiple banks on rate, structure, etc. My instinct is the direct relationship pays off most when things get sticky in DD and I value someone who is local, but I assume the broker route will get better terms. What else am I missing when thinking through these 2 options?
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Reply by a searcher
from Howard University in Washington, DC, USA
perhaps do both and disclose to broker you have a few lender relationships already
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Reply by a searcher
from Vanderbilt University in Santa Barbara, CA, USA
Interested in this topic as well
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