Unlocking Funding Opportunities: A Guide to Securing Projection-Based SBA 7a Loans

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2 years ago
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Unlocking Funding Opportunities: A Guide to Securing Projection-Based SBA 7(a) Loans Startup franchise Purchasing Project cost Underwriters Lending decision SBA Smaller loans Loan guidelines SBA 7A loans Express Loans

Unlocking Funding Opportunities: A Guide to Securing Projection-Based SBA 7a Loans
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Q: Dear Beau,

I'm in the process of purchasing a startup franchise and have saved around $30,000, but I don't have any additional reserves. The total project cost for the franchise is approximately $130,000. Could you please guide me on what factors underwriters consider when making a lending decision? Specifically, do they evaluate reserves and cash flow requirements? Thank you.

Amanda

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Timestamps:
(00:03) - Amanda's question about purchasing a startup franchise.
(00:29) - SBA's focus on smaller loans and relaxed guidelines for loans under $500,000.
(00:38) - The first step: Pulling SPSS credit score and evaluation based on credit history and factors.
(00:57) - Importance of projections, especially if there's W-2 income during the startup phase.
(01:15) - Debt-to-income as a compensating factor with a high-paying W-2 job while growing the business.
(01:21) - Low reserves are not necessarily a deal breaker, but at least 10% equity injection is required.
(10:46) - Explanation of working capital and its effect on reserves.

💥 Thanks for watching 💥
#fundingopportunities #franchisefinancing #sba7a

About Beau: Beau Eckstein is a real estate entrepreneur, TV personality, and commercial mortgage advisor, specializing in construction financing and multi-family lending.

🎥 The video interviews we do on IFP will help you scale your real estate business and learn how to finance your all your projects.

About the Channel: Want to structure your investments in the right and secure way?

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