SBA also typically has a prepayment penalty. In this environment I can see why

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Sep 25, 2024
3:20:12pm

Socrates Johnson All-American

SBA also typically has a prepayment penalty. In this environment I can see why

the commercial guys want a prepayment penalty. Is there an "I sold the building" exception?

This message has been modified

Originally posted on Sep 25, 2024 at 3:20:12pm

Message modified by Socrates Johnson on Sep 25, 2024 at 3:20:26pm

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Socrates Johnson

Previous username: jkccoug
Bio page: Socrates Johnson
Joined: Jul 19, 2002
Last login: Sep 26, 2024
Total posts: 30,807 (2,200 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

Sep 25, 7:58am

But really, the bank can make all the difference with an SBA loan.

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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