The BizBuySell Small Business Community

  • Get Expert Advice

  •  • Find Local Service Professionals

  •  • Share Your Experiences

Are there any SBA loan specialists that I could ask questions?

I am wondering what LTV% that are being considered right now and what industry/business type would be an easier loan to close on. I am looking at a self serve carwash in Nevada and was wondering if this loan was even possible. I'm all ears and serious. Thanks in advance.

No User Photo

Answer This Question

max 5000 characters

Web Reference (optional)

e.g., "www.mywebsite.com"

Review Community Guidelines

Help keep our Community clean and on topic. The BizBuySell Community is a place where you can discuss your questions, concerns and knowledge with others you can trust. It is not OK to use this forum to solicit others for personal or financial gain, or to rant about personal issues. It's all in the guidelines.

Submit Your Answer
Answers (7)
No User Photo

We are financial consultants to a group of investors whom we have their consent to manage their funds which is in our custody for cooperation in joint venture business investments.

Our areas of interest include Property Development and real estate, Health Care, Education and training, Mining and exploration, Energy, oil and gas,Technology, Software development, Agriculture, Manufacturing, Finance Services and Leisure.However, all viable proposals within reason will be considered.

Funds shall be made available to you as a direct investment loan at 3% interest rate per annual for a period of 2 or 30 years depending on what you prefer. You may contact us if you have interesting investment proposal for possible business collaboration for our study.

We look forward to your reply to enable us provide you with details or you may visit our website.

Kindly acknowledge receipt of email.

Thank you.

Yours Sincerely
Jesse Peterson
phone: (980) 239-7539
email: info@interventionmortgagefirm.com
web: http://www.interventionmortgagefirm.com/

Jun 6, 2017
No User Photo

Hello!

Have you ever searched for funds, loans, financial assistance or need an accredited lender to help you meet up with your needs and demands? Do you want an Investment Loan for your business Or have your bank turned you down? Is your monthly income disappearing due to high interest rate on your Loans, Credit or Bonds? Then you have no alternative than to get an instant and reliable service. Contact us today for Legit/accredited Loans, Mortgages and Investment funds. For Quick application, Apply within; Full Name: Loan Amount needed: Loan Purpose: Loan Duration: Phone number: Address/Country:

Yours Sincerely
Jesse Peterson
phone: (980) 239-7539
email: info@interventionmortgagefirm.com
web: http://www.interventionmortgagefirm.com/

Jun 1, 2017
No User Photo
Biz2Credit LLC
New York County, NY

Duke,

We do a large no. of SBA loans. Normally if the business is more than 2 yrs old ,profitable at EBIDTA level and you can put down 20%, deals are happening as of now.

In order to check your scenarios for free , you can log onto www.biz2credit.com which has over 75 banks and 140 products. I would be happy to talk to you about the possibilities.

Apr 8, 2010
No User Photo
The BAF Group LLC
MD

Assuming the land is also included, 10% to 20% is still possible, and a Car Wash should be a candidate for such a loan. (Many other businesses are not, simply because the industry they represent are not something many Banks want in their portfolios. Gas Stations are sometimes tough, because many Banks don't want the environmental issues threatening the loan; Hotels and Motels are almost impossible to fund right now, because of the dismal profitability of the hospitality industry, as a whole.)

I would approach an SBA Bank, such as Wachovia and get their direct input. Wachovia is the Bank through which we historically did most of our work, and though they have been bought by Wells Fargo, they are still a strong SBA lender; however, I have no affinity to Wachovia, and whoever does SBA-backed lending is fine. In fact, regional or local Banks might be your better choice, anyway. Remember that 65% of Banks across the Country are not lending at this point, and smaller Banks seem to be more open to sucn funding. SBA loans have recently increased, but it is still a tough thing to get done. You need to really work at it!

The biggest problem with Car Wash loans is that the Owners traditionally don't claim all of their earnings to the IRS. But when selling, they want to be paid on the basis of what they really earn, not what they claim. The Bank will only look at Tax Returns, and if the Tax Returns do not show the full picture, you will not get funding for the full asking Price.

Apr 8, 2010
No User Photo
Business Brokers Of Nevada
Broker
Clark County, NV

Is it just the business or the property too? I ask becasue would depend on who I would refer. I am in Las Vegas Nevada and deal with both 7A and 504 options.

Apr 7, 2010
No User Photo

Look under the Small Business resources section on this page. Click on Loan Officer. I do know that Michelle Orr has been very helpful in the past. Lokk her up.

Apr 5, 2010
Jon Holmquist
Edgemaster Model 400 sharpener
President
Marion County, OR

Duke, I have had a good relationship with Don Johnson at Diamond Financial www.franchisefunding.net
or donj@easysba.com, maybe he can answer your questions. Good Luck, Jon at Edgemaster.

Apr 5, 2010

Start a Discussion