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Пікірлер
@tomburgess5906 Күн бұрын
Excellent talk! Impressive and useful points. Thanks for sharing Tommy.
@RefugioHartless-b3c 2 күн бұрын
Moore Rest
@tdz69 3 күн бұрын
Little confused with the title. Watched the video and not making the connection with the brutal truth of SBA lending.
@SBA_Ray 3 күн бұрын
@@tdz69 in this clip, these SBA borrowers describe how the process was a lot more challenging than expected, about 3x more paperwork then a home mortgage, and their deal was almost derailed multiple times.
@tdz69 3 күн бұрын
@@SBA_Rayacquiring a business is a deal that has many moving parts. Many aspects reliant on the timely furnishing of information. You also have one of the borrowers stating she had delays in obtaining a license. Where is the brutal aspect of the SBA component? Or the lender? Seems it’s a typical acquisition deal timeframe.
@SBA_Ray 3 күн бұрын
@@tdz69 if you have the right mentality - which it sounds like you do - the process is manageable. But if you think this will be a walk in the park, or even like getting a mortgage, there’s a good chance the process of buying a business with an SBA loan will take a lot out of you
@GlenDuff 3 күн бұрын
Wow, love this comfort. Others will often make us feel like we should be afraid, and sometimes it’s wise to listen to them, however we must ultimately listen and trust ourselves
@ivandarioify 7 күн бұрын
Hi Ray I'm needing help trying to get a 7a loan for my business. how can I contact you if it's possible. great video by the way 🙏🏻
@SBA_Ray 7 күн бұрын
@@ivandarioify email me at [email protected]
@JonahIsabel-u9s 11 күн бұрын
Davis Kevin Thompson Karen Young Lisa
@jamesray433 12 күн бұрын
Commercial real estate Tennessee. 2 million
@SBA_Ray 7 күн бұрын
@@jamesray433 email me at [email protected], I’d be happy to help you out!
@rustybritt2707 13 күн бұрын
I cant tell if you have a wondering eye or i do. Great info though!
@RobertConley-r5v 16 күн бұрын
O'Conner Circles
@WarrenLeo-k6h 16 күн бұрын
Lemke Squares
@NoyesIan-v5s 16 күн бұрын
Cole Manors
@AdinaKennedy-r4v 17 күн бұрын
Johnson Ronald Taylor Sandra Smith Shirley
@LauraHenry-s8q 18 күн бұрын
Guadalupe Estates
24 күн бұрын
Hi Ray, great information. Im not sure is this is the same thing as an add back, but how about when applying for an SBA 7a loan, how is the owner's payroll treated when determining cash flow?. i.e Most of my cash flow is on my payroll, in order to pay business expenses that are on my personal credit cards.
@SBA_Ray 19 күн бұрын
No further analysis needed. It all works itself out in the global cashflow analysis. Global includes business and personal.
19 күн бұрын
@@SBA_Ray Thank you for getting back to me Ray, I actually tried getting in touch with you a few weeks back at your office, and I believe I spoke to your receptionist or assistant. I am soon ready to seek an SBA loan, however, I believe because I am in California, someone in my family must be a member of your Credit Union?, in order to offer me services in California? Can you please confirm this, because if this is not correct, I can use your SBA services, or maybe you can recommend someone out here in California, L.A , Orange County area??, Thanks again. Your expertise and information provided in your videos are golden, and appreciated.
@SBA_Ray 19 күн бұрын
We lend nationwide. We would open up a five dollar savings account prior to close.
19 күн бұрын
@@SBA_Ray Excellent, I am hoping to be ready later this year. I will circle back to your office, any special phone extension or person to speak to? I know I had to do a bit of investigating to find you last time, Cheers!
@SBA_Ray 19 күн бұрын
You can email me at [email protected]
@NoelDuroe 25 күн бұрын
Jackson Betty Moore Scott Miller Helen
@SomaJustinio-v2m 28 күн бұрын
Clark Amy Rodriguez Joseph Gonzalez David
@smitd4ty 28 күн бұрын
Just found your pod through TLOP!! Liking the content!🎉
@cristii8900 29 күн бұрын
Great business and life advice. I read and watch a lot of different thoughts on this, and Sensei Tom made business and martial arts his life. There are some powerful realizations there.
@MargaretAudrey-v8q 29 күн бұрын
Lee Mark Robinson Amy Brown Steven
@DearHendersoon-c4d Ай бұрын
Smith Kevin Johnson John Hernandez Shirley
@shiverrmetimberss Ай бұрын
How long is the closing process once in underwriting with all required docs That you’ve noticed in your experience? Thanks love you channel!
@SBA_Ray Ай бұрын
@@shiverrmetimberss underwriting typically takes about 2 weeks. Closing takes typically 5-10 weeks after that. Most of the time closing 5-6 weeks after commitment is possible if the borrower is very diligent about their closing checklist
@SBA_Ray Ай бұрын
@@shiverrmetimberss underwriting typically takes about 2 weeks. Closing takes typically 5-10 weeks after that. Most of the time closing 5-6 weeks after commitment is possible if the borrower is very diligent about their closing checklist
@shiverrmetimberss Ай бұрын
@@SBA_Ray got it. Does the SBA offer financing for start up (opened less than a year) home service businesses?
@KrystalVeve Ай бұрын
Business is a spiritual game!
@SystemaContent Ай бұрын
The way these gentlemen articulate their views is beyond inspiring. They have reached incredible success and have great families and friends. Amazing and proud to be one of those friends.
@MoniNaha-b2x Ай бұрын
Thompson Susan Lee Anthony Jackson Brenda
@jolitolbert-burrell6021 Ай бұрын
Hi Ray! Do you lend in Louisiana?
@SBA_Ray Ай бұрын
@@jolitolbert-burrell6021 I do, I’m nationwide
@TeriHamilton-o4e Ай бұрын
Thomas Ronald Williams Shirley Hernandez Ronald
@mistrgekko Ай бұрын
Do EIDL loans effect your $5M cap?
@SBA_Ray Ай бұрын
@@mistrgekko nope
@earlh1517 Ай бұрын
Can the injection come from a home refinance?
@TenaHosan Ай бұрын
Williams Maria Miller Daniel Martin Richard
@tonoisc65759 Ай бұрын
Independent Startup, WA, Loan amount $250k
@MiguelCatch22 Ай бұрын
Awesome! 👏 thanks
@georgial6742 Ай бұрын
Found out I will be getting fired before closing, I have my LOI already submitted. The business cash flows well, and I would have to quit my job and move for the business. I have 780 credit, and hard assets to back the loan. The only debt I have is a mortgage. I found out after I sent out my LOI. Are my chances of closing on this deal bad?
@tiffanyharrison1148 Ай бұрын
What if you don’t own a home or do not want to use your home as collateral? Are there other forms of collateral you can give?
@SBA_Ray Ай бұрын
@@tiffanyharrison1148 you don’t need collateral for an SBA loan
@holysqueak7425 Ай бұрын
I live in an SFH that sits on several beautiful acres zoned EFU (so farm, not commercially zoned) but is perfect for weddings and got approved by the zoning department to operate a home occupation to host events. I've invested significantly over the last few years and completed work to get it close to operating, yet a big hurdle remains... I need to build (a new) or renovate (an old) barn. Thus, a loan to pay for an expensive barn to host the weddings is in my future. Would building a new and/or renovating the old barn fall under the 7(a) "improving real estate and buildings" criteria?
@SBA_Ray Ай бұрын
@@holysqueak7425 yeah, that should work
@holysqueak7425 Ай бұрын
@@SBA_Ray Thank you
@haglermarviin 2 ай бұрын
What's the difference between the affiliate guarantee, personal guarantee, and borrower guarantee?
@SBA_Ray Ай бұрын
@@haglermarviin affiliates are other companies you own, personal is yourself or anyone who owns 20%+ of the borrowing entity, and the borrower is a borrower, not a guarantor. The borrower is the business benefiting from the loan proceeds. Anyone who is a borrower and/or guarantor is responsible for the loan getting repaid.
@cindywest237 2 ай бұрын
How we do find a lender?
@SBA_Ray 2 ай бұрын
@@cindywest237 what type of project? What is the loan amount being requested?
@Rubenfeletoa 2 ай бұрын
Ray I know you’ve seen me comment and get a lot of advice from you. I’d like for you to help me with your expert advice. I filled out a form on your website. Please let me know what I need to do to get the process going
@jmacallan448 2 ай бұрын
enjoy your 10%+ floating rate and basically zero equity. This is for commercial property. No one is refinancing you either
@OZKitchen 7 күн бұрын
Why zero equity?
@UltimateAlloyRepair 2 ай бұрын
Fantastic info!!
@Rubenfeletoa 2 ай бұрын
Can I use SBA to do a seller finance ?
@SBA_Ray 2 ай бұрын
@@Rubenfeletoa I don’t understand. If the seller is financing the acquisition, why would you need SBA?
@Rubenfeletoa 2 ай бұрын
Super informative and I can see how your experiences are shining through
@Rubenfeletoa 2 ай бұрын
You’re the man. If live oaks fall through I’ll come to you if that’s ok? What’s the difference between them and you ?
@Rubenfeletoa 2 ай бұрын
I want to buy land and build an office structure. Can I approve for the loan? What do they like to see?
@SBA_Ray 2 ай бұрын
@@Rubenfeletoa yes as long as your business will occupy 60% or more. That your business generates enough cash flow to support the repayment of the loan
@Rubenfeletoa 2 ай бұрын
@@SBA_Ray if the property I want to purchase comes back with a appraisal less then what the offer price is. Will I have have to cover the difference?
@SBA_Ray 2 ай бұрын
@@Rubenfeletoa Depends. the SBA allows for 10% wiggle room.
@Rubenfeletoa 2 ай бұрын
@@SBA_Ray real pricing The asking price is 865k I offer 900k appraisals come back at around 865k. Where does that put me ? Just a quick question as well. I did get a pre approval from live oak. What’s the next step in the process?
@SBA_Ray 2 ай бұрын
@@Rubenfeletoa that’s within 10% so SBA will be fine with that. If you like it move forward, if you don’t, keep looking
@Rubenfeletoa 2 ай бұрын
Can you use the SBA 7a loan more than once?
@SBA_Ray 2 ай бұрын
@@Rubenfeletoa yes - up to $5mm total
@Rubenfeletoa 2 ай бұрын
How many have you done ? And what kind of loans have you done ?
@Rubenfeletoa 2 ай бұрын
And referrals please. Thanks
@Rubenfeletoa 2 ай бұрын
I’ve started the process with live oak bank. Would it be wise to go through you as well for approvals?
@SBA_Ray 2 ай бұрын
@@Rubenfeletoa once you’ve accepted a term sheet and begun a process with an SBA lender you should not begin another process with another lender (unless your loan request with live oak has come to an end.)
@Rubenfeletoa 2 ай бұрын
@@SBA_Ray I will keep you posted and what is a term sheet?
@SBA_Ray 2 ай бұрын
@@Rubenfeletoa when a bank is interested in moving forward they outline their proposed structure rates and terms in a term sheet
@Rubenfeletoa 2 ай бұрын
@@SBA_Ray not sure if I’m there yet. Currently verifying financials?
@SBA_Ray 2 ай бұрын
@@Rubenfeletoa sounds like you’re pretty early. I’d be happy to consider your loan request as another option. My email is [email protected]
@Rubenfeletoa 2 ай бұрын
Is this real? What if I’m at 3 million to 5 million?
@SBA_Ray 2 ай бұрын
@@Rubenfeletoa no savings for loans over $2mm
@Rubenfeletoa 2 ай бұрын
Oppinion in live oak bank?
@SBA_Ray 2 ай бұрын
@@Rubenfeletoa on the more conservative side but overall pretty solid
@matdalton 2 ай бұрын
Submitted my info on your webpage. Hope to hear from you
@Earnwithvern1 2 ай бұрын
EXCELLENT video. Very transparent and informative.