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loanmart

The SBA 7a loan has been getting a lot of press lately, as it is one of the most viable commercial mortgages out there, and many business owners are trying to get a better understanding of the loan program. Below are the typical questions that business owners have regarding the SBA 7a loan.

Aren't SBA lenders the same? Should I just work with a local bank?

Though the SBA has set guidelines, banks all have their own lending criteria, and what is considered a doable deal from one bank will not be to the next. Many borrowers incorrectly think that the SBA funds loans. They actually just guarantee the funding bank, that in case of borrower default, the bank will get their capital back.

So the point being, you may get 9 declines from various SBA lenders, than find one lender that really likes your request. Lending criteria/guidelines does vary. There is a very good chance that best lender for your request is not local, but maybe located on the other side of the country.