Multiple SBA Loans?

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

3 years ago

I went the self funded route and bought a great company.  Long term I'd like to acquire more, possibly in the same industry.  I inquired about another company and was told by the broker that banks don't like to finance entrepreneurs who already have SBA backed loans.  I contacted my bank and they said they'd consider talking to me in 1Q 2021 out of fear of me taking on too much too soon. Has anyone else run into this issue and how did you work around it?

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2 comments

searcher from Yale University - School of Management

this is a very interesting question - would you like to connect 1:1? as a current self funded searcher im interested to connect with searchers who have been successful in using SBA 7(a) pathway.

3 years ago | like reply | 1 like

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

I would explore options with conventional loans as well. (Not necessarily instead of) And would consider having a combination of debt/equity. I agree, we need to prove we have the ability to serial entrepreneur...but it takes partnering with the right lenders and investors as well. Continue to explore options and best of luck! I’m right there with you with the same goals.

3 years ago | like reply | 1 like

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