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Sep 25, 2024
8:43
:40
am
BYUfan92
All-American
Interesting, thanks. Prepayment penalty on a conventional of 5 years is a thing
that I dont like. I'm curious if they'll bend or waive that to give me more flexibility.....
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BYUfan92
Previous username
BlueMan
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BYUfan92
Joined
Jul 17, 2002
Last login
Sep 26, 2024
Total posts
35,702 (422 FO)
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Messages
Author
Time
You banker/finance type guys - is this legit?
BYUfan92
Sep 25, 7:53am
SBA 7A cuts off at $15 MM Net Worth for the borrower. So, you probably are
Gentleman Stan
Sep 25, 7:58am
But really, the bank can make all the difference with an SBA loan.
Gentleman Stan
Sep 25, 7:59am
Probably right, poor for Cb! As far as SBA, not even in the 15 mill stratosphere
BYUfan92
Sep 25, 8:04am
apply for a 7a loan from a bank that specializes in small business lending.
BYUinTX
Sep 25, 7:59am
In your opinion is a 7A much better than a fixed conventional? Both were at 6%
BYUfan92
Sep 25, 8:06am
You may still qualify for SBA loan but the bank likely found a buyer for your
Bushmaster
Sep 25, 8:32am
Interesting, thanks. Prepayment penalty on a conventional of 5 years is a thing
BYUfan92
Sep 25, 8:43am
SBA also typically has a prepayment penalty. In this environment I can see why
Socrates Johnson
Sep 25, 3:20pm
SBA had a 3 year penalty, conventional has 5. Haven’t seen the paperwork yet
BYUfan92
Sep 25, 5:57pm
If they are offering a conventional loan with identical or close terms, take it
Socrates Johnson
Sep 25, 3:19pm
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