SBA Lending 101

SBA LENDING 101 "Let's Chat with Jim Parker Business Broker" is proudly affiliated with the BBP Podcast Network EPISODE: 12 RELEASE DATE: June 19, 2024 YOUTUBE CHANNEL: https://www.youtube.com/@JimParkerBusinessBroker WEBSITE: https://www.JimParkerBusinessBroker.com In this episode of "Let's Chat," join host Jim Parker as he converses with SBA lender Tammy Roberts (née Teece) from Live Oak Bank. They delve into the fundamentals of SBA lending, highlighting the benefits, requirements, and processes involved. With nearly 25 years of experience in business brokerage, Jim stresses the advantages of pre-qualifying businesses for SBA loans and the steps needed to ensure smooth transactions. Tammy shares invaluable insights on pre-qualifying buyers, navigating loan underwriting, managing closing timelines, and more. This informative episode is a must-watch for business brokers, prospective buyers, and sellers looking to better understand SBA loans and their impact on small business growth. Don't miss out on learning crucial tips that can help you succeed in your business transactions. To connect with Tammy: Tammy.Roberts@liveoak.bank https://liveoakbank.com 239.272.8145 Join the discussion! Like, share, leave a comment, and for more from "Let's Chat," subscribe on YouTube  @JimParkerBusinessBroker  00:00 Introduction and Guest Welcome 00:48 Meet Tammy Tease: SBA Lending Expert 02:47 Understanding SBA Lending Basics 03:10 Advantages of SBA Loans 08:36 Pre-Qualifying a Business for SBA Loans 17:08 Pre-Qualifying Buyers for SBA Loans 25:22 The SBA Loan Process: From Offer to Approval 28:19 Understanding Home Equity Requirements 28:56 Importance of Life Insurance in Deals 3 0:06 Personal Guarantees and Spousal Involvement 31:49 Credit Scores and Background Checks 34:33 SBA Loan Application Process 40:12 Challenges and Solutions in Closing Deals 44:40 Virtual Closings and Final Tips 47:49 Conclusion and Call to Action TOPIC KEYWORDS: Jim Parker, business broker, SBA Loans, SBA Lending, SBA, small business, Tammy Roberts, Live Oak