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SBA Patriot Epress Loan, please share your experience

I retired from the military reserves. I qualify for the SBA Patriot Express Loan. I could get between 60k-100k (depending on if I use 401k money or not ) to buy into a small business as an investment, and to as a back up income if I ever loose my job. I have a full time job that I intend to keep to help pay off the loan faster. I'm wondering if anyone here has had any experience getting a loan through this program and would like to share. If so, who did you go through to get it, how much did you borrow, what was your down payment, how long did it take, etc. Thank you. M

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Mar 19, 2017
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Jul 15, 2016
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The BAF Group LLC

MM, first I thank you for the kind comments. Let me delve into this a bit more deeply, now that I understand your questions better. Getting a Buyer who has dealt with this probably won't help you, since each deal - the type of transaction, the track record of the business and the Buyer's own finanancial capabilities - are going to bear on the down payment, the amount of the security and so forth.

We tradtionally get (non-Patriot) SBA deals done in 45 yo 60 days. A lot of that depends on the financial history of the deal and the quality of the application process. ANY loan is going to require a 3-year financial history, which entails signed Tax Returns that need to be verified by the IRS. They will also want a Balance Sheet (which is probably included with the Tax Returns,) and two (2) years of Tax Returns from you, personally. They may or may not demand a Business Plan, or at least Pro Forma P&Ls. That is common. More and more frequently, they will ask for a resume. The SBA wants to know that you have the professional background or experience that demonstrates you have the basic qualifications to operate a business, successfully. The Patriot Express program has terms that are terrific, as far as we can determine. And down payments are almost always negotiable. You can sometimes get the Seller to participate with that, as well.

One problem I will suggest to you is that Laundromats are notoriously difficult to fund, with standard lending. They have a lot of equipment, as you say; however, like Restaurants, one the equipment is installed, it is immediately considered to be worthless, as a function of security. Moreover, the big problem is that most Sellers demand prices that are a funciton of what they actually put in their pockets, which is frequently MUCH lower than what they report to the IRS. Banks and the SBA will lend on the basis of what is reported; so they will lend much less than what is being asked.

Why don't you drop me a line privately at It might be a better conduit for getting you the exact answers you want.

Feb 1, 2012
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Santa Clara County, CA

Thank you Don and Jay.

What you described was my understanding also. I was hoping to find someone who had been through the process and could describe the experience in detail.

I talked to a banker, a self described 20 year business loan expert ( who was not SBA preferred ) who said it would be 60 days to credit , 90 days to fund, 20% down with relevant experience, 30-35% down if no relevant experience. Needs 3 years verified financials, Would require collateral and personal guarantee, in his words they need the ability to pierce the corporate veil. Terms where prime +2.75% variable, or they had a 6.5% fixed option.

Don, Thanks for your input! I wish you were here in the SF Bay Area! I've enjoyed reading all your comments on these boards. I also enjoyed reading all the blog posts you made on your website, that's some pretty sobering reality check information. My accountant said the same thing as you about leaving my 401k alone. That will limit what will be in reach for me at this time.

I was looking into things like coin-op laundry mats because they fit most of my buying criteria, but as they are equipment intensive they have higher prices, this will make it hard for me to find something worthwhile to buy with my low down payment from what I can see unless someone has any other creative ways to finance one. Things that I've seen in my down payment range don't seem worth buying, i.e., what I get, for what I give ( money & time). I could buy something less expensive, and the income they generate might help a bit if I loose my job, but wouldn't replace my income, which is one of the primary reasons I'm trying to buy.

Thanks again!

Jan 31, 2012
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The BAF Group LLC

It is geared toward Veterans, has a max amount available of $500k for each loan and can be expedited to give an answer within two days. It is apparently a good, but little used loan program. Down payment is always questionable, but count on somwhere in the area of 10%. It depends on the deal. And I would NOT do anything with your 401k!!! Write to me at, if you have specific questions.

Jan 31, 2012
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jsita inc

i know one company they claim that they can hepl to get SBA loan, personally i dont have experience for that if you need that you can contect me i will give u link.

my email is

Jan 29, 2012
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The BAF Group LLC

I will find out by Monday.

Jan 28, 2012
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Santa Clara County, CA

Does anyone know where I should go to get this kind of information since apparently nobody here has done one of these? I talked to a banker that does SBA loans, not preferred lender, and he had never heard of it...

Jan 28, 2012

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