Looking for a SBA 7(a) loan with low net worth

by a searcher from Miami University of Ohio

1 year ago

I recently went for pre approval on a loan above a SBA loan as a broker encouraged me to do so. This led me to find out from this lender that with a low net worth, I would have trouble securing a loan above $1M, even through the SBA program. I have a high credit score and have enough capitol from investors to go for the full $5M loan from the SBA. Does anyone have experience how I can get over the hurdle of a low net worth?

Thanks

3 likes
167 views
12 comments

searcher from University of Texas at Austin

A lot depends on the bank you are working with. If you haven't already, I would reach out to Lisa Forrest at Live Oak Bank. They do a lot of asset-light, cash flow based loans.

9 months ago | like reply | 0 likes

searcher from University at Buffalo, State University of New York - School of Management

Not true. The banks can ask you for anything. Talk to more banks.

10 months ago | like reply | 1 like

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