SBA Financing Partners for business in another state?

searcher profile

October 10, 2024

by a searcher from University of Alaska Anchorage - College of Business and Public Policy in Vancouver, WA, USA

We are looking to purchase a business in the Midwest, but we reside in the PNW. Business is well managed and has staff and a GM in place. We currently own multiple businesses in faraway places, and as such we feel confident that once we have streamlined the operations of the target with our own processes and procedures and technology, we will confidently be able to manage remotely with monthly visits to the location.

I've run into several roadblocks with our network of lenders we work with. Does anyone have suggestions for a SBA partner who would be willing to work this deal?

Thanks-

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Reply by a lender
from Eastern Illinois University in 900 E Diehl Rd, Naperville, IL 60563, USA
We are a Commercial Loan Broker with over 80 SBA funding partners. Although most partners prefer a buyer to live in the state and close to the business, we have had success in certain circumstances presenting a situation and support for why onsite day-to-day management is not required. It really depends on the type of business and what support you have. Happy to discuss and see if we can make something work with one of our partners. You can reach me here or directly at redacted
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