Session Resources

Roundtable Session #7 Youtube link: Link HERE

Articles / Posts

What Is an SBA Loan? - The Wall Street Journal

The article provides a high-level overview of the advantages and process of securing Small Business Administration (SBA) loans for entrepreneurs seeking to start, expand, or rebuild their businesses. It covers various loan types, eligibility criteria, and application steps.

An Overview of SBA Loan Fees

The article from Live Oak Bank provides an overview of SBA loan fees. It details the structure of the SBA 7(a) loan guarantee fee, which is based on the loan amount and term, and emphasizes that this fee is calculated on the guaranteed portion of the loan. The article also mentions other possible fees associated with SBA loans, such as packaging, servicing, and prepayment penalties.

Videos

Everything you need to know about SBA Lending

Ray Drew, an SBA 7a Lender, podcast host, and SMB investor, discusses various aspects of SBA loans and business development, including the primary SBA 7a loan program, changes in SBA in 2023, partial ownership changes, the role of business development officers, non-bank lenders, commercial real estate for small businesses, and improving loan terms.

2023 Wrap-Up: State of the SBA with Lisa Forrest and Sarah Andrews - Private Market Labs

Lisa Forrest and Sarah Andrews discuss the significant 2023 changes in SBA 7(a) program guidelines and their implications for 2024, including adjustments to down payment rules, lenders' interpretations of new guidelines, the impact of partial buyouts, and approaches to navigating potential government shutdowns in SBA lending. The article also contains a very helpful write-up summary of the interview.

Podcasts

How to Choose Your Lender When Buying a Business - Acquiring Minds

This episode features Lisa Forrest, Director of SBA Financing and M&A at Live Oak Bank, sharing her expertise on securing SBA loans and finding the right lender. With 35 years in lending, she emphasizes the importance of building a strong relationship with lenders, especially for self-funded searchers. Lisa highlights the need for buyers to understand their value from a lender's perspective and to consider external factors like supply chain disruptions and labor shortages. She offers insights into understanding debt-service coverage ratios and strategic partnerships with lenders, ultimately demystifying the SBA loan process and advocating for small business acquisitions in the current climate.

Bruce Mark's on Business Buying: A Lender's View - Mundane Millionaires

The podcast episode features Bruce Marks from First Bank of the Lake discussing the lender's perspective on business buying, emphasizing the importance of selling oneself as a buyer and sharing insights from over 1200 business closings.