Anyone here do small business loans?

[Bre]

Anyone??

[pussycats]

Anyone??
how much are you looking to get?

[Bre]

how much are you looking to get?
180K

[pussycats]

180K
so, you need a big business loan.....lol
any property or homes to secure that? You need to look for some investers.
What kind of business?

[Bre]

so, you need a big business loan.....lol
any property or homes to secure that? You need to look for some investers.
What kind of business?
OK big. LOL.. I don't know what I am talking about. We have a small property in Big River that isn't worth anything... and our house in Chino Hills. Which is worth 2 times what we paid for it.

[totenhosen]

I do. We do SBA loans, small business and commercial loans. IM or email me with what you are looking to do.

[jdogginla]

Investors are such a pain in the ass................I just lost an investor for a restaraunt. It's hard to find the right person if you're looking for an investor. Alot of times they think because they're throwing in a chunk of change that they can change all your visions and plans. I told one guy that changed every aspect of what I wanted to do.............that's a great idea, but not what I want, u should open your own place with that idea. :argue:

[jdogginla]

Ohhh.........and make sure your biz plan is solid. I have a great book if you need help with a biz plan.

[Bre]

Ohhh.........and make sure your biz plan is solid. I have a great book if you need help with a biz plan.
It is an established business... just buying a friend out. He lives in Az. and the business is in Simi Valley.. it's hard for him to run being out there.

[totenhosen]

It is an established business... just buying a friend out. He lives in Az. and the business is in Simi Valley.. it's hard for him to run being out there.
Your best bet is a SBA loan (will require a 2nd on your home), seller financing or take out a 2nd yourself on the home.

[HOOTER SLED-]

Just curious, what kind of rates go along with a loan like Bre is talking and that amount, and how about the terms??? Ballpark of course.

[Bre]

Your best bet is a SBA loan (will require a 2nd on your home), seller financing or take out a 2nd yourself on the home.
If my bank would call back :mad: LOL... I could get this all figured out :idea:
Mother fcukers :boxingguy

[totenhosen]

Just curious, what kind of rates go along with a loan like Bre is talking and that amount, and how about the terms??? Ballpark of course.
Variety of terms ranging from 15-30 year amortization, due in 10-30 years, rates vary as well from doing prime + 2 or a 5year Treasury note plus ???
There are some many ways to structure the deal.
Bad thing is SBA typically requires taking a 2nd on the primary residence of the borrower.

[Infomaniac]

Yea if you go 100% SBA it requires a 2nd on the house.
If you go through your bank, and they do the SBA for you. You can get the 2nd taken off in 1 year.
I just did all of this last month.
SBA will also allow payments to go past 7 years. 7 is typically the most a standard bank loan will go.

[ChumpChange]

I write conventional as well as SBA loans for US Bank. If there is a possible way to go conventional, go that way. Otherwise it's SBA. US Bank is currently running a promotion where the bank pays for the SBA guarantee fee which usually runs about 1.5% of the loan amount. That could be a great savings in this instance.

[JDB]

Bre
I do Industrial Real Estate myself and have a recomendation for you. Call Bob Sebastian at 909-989-7771 (they will answer Lee & Associates, just ask for Sebastian) He is a "private lender" however, most of his programs are consistant with SBA loans. If anyone can get "creative", Bob is your guy. He is an ex real estate guy himself so he knows the mechanics of a real estate/business opp deal. Hope that helps! Good luck!

[mbrown2]

Bre,
Good luck with the buz....pm me what it is since that is my neck of the woods...may be able to drum some customers your way..