While my original intent was to rate and review various SBA lenders, I’ve gone on to learn about bloggers being sued by brands who were not reviewed in a favorable light. So here’s what I do instead. I only recommend lenders who fit some very specific criteria:
1) They don’t charge you points to take an SBA loan (there are some very good lenders that don’t charge points, and I’m yet to find a lender that adds enough value to justify paying points).
2) They have significant SBA lending experience (let someone else borrow from the banks that have no idea what they are doing!).
3) I’m comfortable that if there is a default and subsequent settlement offer on your SBA loan, the lender will be willing to consider reasonable settlement terms. Since I’ve run a workout consulting business since 2011, I have insider knowledge about which lenders are willing to settle, and which ones aren’t.
So if I recommend a lender to you, you can know that I’m attempting to match you with an experienced SBA lender who doesn’t charge points, and has a history of reasonable settlements. If you retain me to help you with your financing needs, I’ll give you a rebate after your loan closes equal to 10% of my commission, up to $500.