SBA lender outreach before connecting with brokers

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by a searcher from Temple University - The Fox School of Business
in Philadelphia, PA, USA

2h ago

SBA lender outreach before connecting with brokers

I am in early stages of ETA process and have defined my acquisition thesis and buy box and completed my initial PFS. I now plan on engaging some brokers to help with my search, however, am curious to know if it is recommended that I first talk to some SBA lenders prior to those broker conversations in order to send a stronger signal that I am a serious buyer. Given I'll need to have those lender conversations at some point, is it better to kick them off sooner than later?

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reply by a lender 1h ago
from Bloomsburg University of Pennsylvania in Ambler, PA 19002, USA

Good luck getting started Vinh- generally speaking, definitely good practice connecting with a few banks/financing brokers early in the process to shore up some of your buy thesis and to get a sense of key button credit items that experienced folks are seeing in deal review/success. Also if they can add any letters of support (or something of similar stature) it could provide to optically show you as a more prepared borrower. I am Ambler, PA based.. would be happy to chat if helpful redacted

reply by a professional-advisory 34m ago
from University of Utah in Sandy, UT, USA

I have my clients get prequalified before they sign NDAs. It helps the broker know that you are serious and can actually fund the deal. Brokers get lots of lookey-loos