SBA Lenders in the DC Metro Area?

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July 31, 2021

by a searcher from Harvard University - Harvard Business School in Washington, DC, USA

Hi everyone,

My husband has the opportunity to buy out his employer, which would be a $4M-$5M transaction. He is considering financing part of the deal with an SBA loan and is interested in speaking to a loan officer in the DC metro area. Do you have recommendations for someone he could speak to? Alternatively, is there someone outside the DC metro area that you recommend?

Thanks!

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Reply by a searcher
from Harvard University in Colorado Springs, CO, USA
Good advice I once received:
Go to nationwide SBA lenders (Live Oak, Fundex, CIBC, etc.) AND regional banks (this would be the DC locals you mentioned, just look them up on Google maps and call to see if they have someone in "SBA 7(a) loans" AND large commercial banks (Wells Fargo, BoA, etc.) because you never know which type of bank is going to be most interested in your deal.

When cold calling banks though, it's important to say that you want to talk to the SBA loan specialist because there's usually not too many that do that stuff and you can waste a lot of time speaking to someone in the wrong department.

General rule of thumb is###-###-#### banks to get 2-3 commitment letters and then you choose the best one to move forward with.

Best of luck!
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Reply by an intermediary
in Port St. Lucie, FL, USA
I work for Pharus Funding Partners and that his what we specialize in. I have access to 150 Lenders across the US. Just need to gather the basics of your scenario and we can run across our network of SBA lenders to find the best rate and term. Keep in mind that SBA typically wants some type of cash infusion into the deal or tie to collateral to back their loan programs. Let me know if we can help. You can visit our site by clicking below:
http://pharusfunding.com/
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