Comments on: How to Get an SBA Loan http://www.coyoteblog.com/coyote_blog/2005/08/how_to_get_an_s.html Dispatches from a Small Business Sun, 21 Mar 2010 17:39:53 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: Robyn http://www.coyoteblog.com/coyote_blog/2005/08/how_to_get_an_s.html/comment-page-1#comment-1694 Robyn Fri, 07 Jul 2006 15:13:17 +0000 http://coyote-blog.com/wordpress/2005/08/how_to_get_an_s.html #comment-1694 <p>Mary Anne Martin said: "now, banks can make a loan and receive a 50% loan guaranty from sba, using their own documents, eliminating much of the paperwork previously required."</p> <p>What she's referring to is the SBA 504 Loan Program which provides 90% financing of commercial real estate. The main difference between this loan program and the more commonly known SBA 7(a) program (besides having a conventional first mortgage of 50% and a second mortage of 40% that is backed by the SBA) is that SBA 504 Loans have the option of fixing the rate at below market interest rates. Whereas 7(a)'s have floating rates tied to prime. Check out http://www.504blog.com or http://www.sba.gov or http://www.504experts.com.</p> Mary Anne Martin said: “now, banks can make a loan and receive a 50% loan guaranty from sba, using their own documents, eliminating much of the paperwork previously required.”

What she’s referring to is the SBA 504 Loan Program which provides 90% financing of commercial real estate. The main difference between this loan program and the more commonly known SBA 7(a) program (besides having a conventional first mortgage of 50% and a second mortage of 40% that is backed by the SBA) is that SBA 504 Loans have the option of fixing the rate at below market interest rates. Whereas 7(a)’s have floating rates tied to prime. Check out http://www.504blog.com or http://www.sba.gov or http://www.504experts.com.

]]> By: andrena markley http://www.coyoteblog.com/coyote_blog/2005/08/how_to_get_an_s.html/comment-page-1#comment-1693 andrena markley Mon, 26 Jun 2006 09:48:56 +0000 http://coyote-blog.com/wordpress/2005/08/how_to_get_an_s.html #comment-1693 <p>Good work Keep it up.</p> <p>andrena markley<br /> http://unsecured-loan.loans11.co.uk</p> Good work Keep it up.

andrena markley
http://unsecured-loan.loans11.co.uk

]]> By: William Taggert http://www.coyoteblog.com/coyote_blog/2005/08/how_to_get_an_s.html/comment-page-1#comment-1692 William Taggert Sat, 06 May 2006 06:44:23 +0000 http://coyote-blog.com/wordpress/2005/08/how_to_get_an_s.html #comment-1692 <p>You are right on the money with this one. Well said!</p> <p>William Taggert</p> <p>http://www.cashloansez.com</p> You are right on the money with this one. Well said!

William Taggert

http://www.cashloansez.com

]]> By: Charles Mercer http://www.coyoteblog.com/coyote_blog/2005/08/how_to_get_an_s.html/comment-page-1#comment-1691 Charles Mercer Fri, 05 May 2006 12:02:34 +0000 http://coyote-blog.com/wordpress/2005/08/how_to_get_an_s.html #comment-1691 <p>I hope everyone has enjoyed the blog as much as I have enjoyed writing it. </p> <p><br /> Charles Mercer </p> <p>http://www.businessloanscenters.com</p> I hope everyone has enjoyed the blog as much as I have enjoyed writing it.

Charles Mercer

http://www.businessloanscenters.com

]]> By: Chris Scanlon http://www.coyoteblog.com/coyote_blog/2005/08/how_to_get_an_s.html/comment-page-1#comment-1690 Chris Scanlon Wed, 03 May 2006 18:49:32 +0000 http://coyote-blog.com/wordpress/2005/08/how_to_get_an_s.html #comment-1690 <p><br /> - Thanks for this great post. You've </p> <p>got some really good info in your blog.<br /> Chris Scanlon<br /> http://www.bankloanauspice.com</p> - Thanks for this great post. You’ve

got some really good info in your blog.
Chris Scanlon
http://www.bankloanauspice.com

]]> By: Chris Miller http://www.coyoteblog.com/coyote_blog/2005/08/how_to_get_an_s.html/comment-page-1#comment-1689 Chris Miller Mon, 24 Apr 2006 19:07:33 +0000 http://coyote-blog.com/wordpress/2005/08/how_to_get_an_s.html #comment-1689 <p>I totally agree with what you're saying. I wish more people felt this way and took the time to express themselves. Keep up the great work. If you want to check out my blog that would be great. I write about auto loans quite a bit. I've been in the car loan industry for quite some time now. You can check my page out by clicking here <br /> http://www.interwebautoloans.com</p> I totally agree with what you’re saying. I wish more people felt this way and took the time to express themselves. Keep up the great work. If you want to check out my blog that would be great. I write about auto loans quite a bit. I’ve been in the car loan industry for quite some time now. You can check my page out by clicking here
http://www.interwebautoloans.com

]]> By: Ro http://www.coyoteblog.com/coyote_blog/2005/08/how_to_get_an_s.html/comment-page-1#comment-1688 Ro Fri, 17 Mar 2006 19:50:45 +0000 http://coyote-blog.com/wordpress/2005/08/how_to_get_an_s.html #comment-1688 <p>Hey there, great blog! Enjoy your posts. If you have a moment, check out my blog at www.ezeloans.blogspot.com. Perhaps we could exchange links.</p> Hey there, great blog! Enjoy your posts. If you have a moment, check out my blog at http://www.ezeloans.blogspot.com. Perhaps we could exchange links.

]]> By: reliablelender http://www.coyoteblog.com/coyote_blog/2005/08/how_to_get_an_s.html/comment-page-1#comment-1687 reliablelender Sat, 11 Mar 2006 00:52:25 +0000 http://coyote-blog.com/wordpress/2005/08/how_to_get_an_s.html #comment-1687 <p>i am a reliablelender who lend out loan and persoanl loan to all serious individual who are in need of the loan,if you are interested in the loan offer you can contact me via email reliablelendero1@yahoo.com</p> i am a reliablelender who lend out loan and persoanl loan to all serious individual who are in need of the loan,if you are interested in the loan offer you can contact me via email reliablelendero1@yahoo.com

]]> By: Nathaniel Booker http://www.coyoteblog.com/coyote_blog/2005/08/how_to_get_an_s.html/comment-page-1#comment-1686 Nathaniel Booker Wed, 08 Mar 2006 08:57:31 +0000 http://coyote-blog.com/wordpress/2005/08/how_to_get_an_s.html #comment-1686 <p>You failed to mention that because of the SBA guaranty banks will provide longer term financing than without the guaranty. For instance, most bank loans have shorter repayment terms 1 - 3 years for working capital financing. With SBA guaranty repayment terms are 7-10 years, more than twice as long. Obvioussly the longer repayment term makes the loan more affordable. With the SBA guaranty many businesses would not qualify with the shorter repayment term. Thus, it is not completely accurate to indicate or suggest the banks could provide similar financing withou the SBA guaranty. </p> <p>Also, SBA lenders provide up to 25 year financing for real estate loans without balloon payments. Most banks never provide this relatively length repayment term without the SBA program. Generally providing 10 - 15 years repayment and in many instances with a balloon payment (balloon payment results when the monthly payments made on the loan are lower than required to fully pay off the loan fully for the repayment term. The final payment is substantially more to pay off the remaining balance at the end of the repayment term). This could place a significant burden on the small business to come up with this finanl payment. </p> <p>Without the SBA program many small business deserving financing would be underserved by the banking community. Even you as "Libertarian" saw the practicality of obtaining a SBA guaranteed loan.</p> You failed to mention that because of the SBA guaranty banks will provide longer term financing than without the guaranty. For instance, most bank loans have shorter repayment terms 1 – 3 years for working capital financing. With SBA guaranty repayment terms are 7-10 years, more than twice as long. Obvioussly the longer repayment term makes the loan more affordable. With the SBA guaranty many businesses would not qualify with the shorter repayment term. Thus, it is not completely accurate to indicate or suggest the banks could provide similar financing withou the SBA guaranty.

Also, SBA lenders provide up to 25 year financing for real estate loans without balloon payments. Most banks never provide this relatively length repayment term without the SBA program. Generally providing 10 – 15 years repayment and in many instances with a balloon payment (balloon payment results when the monthly payments made on the loan are lower than required to fully pay off the loan fully for the repayment term. The final payment is substantially more to pay off the remaining balance at the end of the repayment term). This could place a significant burden on the small business to come up with this finanl payment.

Without the SBA program many small business deserving financing would be underserved by the banking community. Even you as “Libertarian” saw the practicality of obtaining a SBA guaranteed loan.

]]> By: Mary Anne Martin http://www.coyoteblog.com/coyote_blog/2005/08/how_to_get_an_s.html/comment-page-1#comment-1685 Mary Anne Martin Tue, 07 Mar 2006 12:22:16 +0000 http://coyote-blog.com/wordpress/2005/08/how_to_get_an_s.html #comment-1685 <p>Yes that is correct. I liked your comment. I too belong to the same profile and this was of great help.</p> <p>Mary Anne Martin</p> <p>http://www.businessloanscenters.com</p> Yes that is correct. I liked your comment. I too belong to the same profile and this was of great help.

Mary Anne Martin

http://www.businessloanscenters.com

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