How do you find the right lender to work with direct?
How is SBADNA Match different from SBA’s Lender Match?
Both are a free online referral tool for small businesses.
The SBA’s Lender Match takes the borrower inputs and provides access to participating SBA lenders for interest. The borrower receives an email from interested SBA lenders and works with the lender direct.
SBADNA Match takes borrower inputs and matches with lender inputs and then provides results to the borrower. The borrower’s information is only submitted to the lenders that the borrow selects the submit button for. The borrower also works with the lender direct.
How does SBADNA Match work?
The borrower completes the loan request form and the inputs are matched to SBA lenders with matching historical loan experience and lender inputs for current focus and qualifying criteria. The match results are revealed and the borrower can securely submit their loan request to one or more lenders by pressing the submit button next to the matched lender(s). Find the right SBA lender, right now, and work with direct.
What is the SBA approval differential dilemma?
It is the dilemma where a borrower can be declined for an SBA loan at one lender but approved by another. This is caused by different SBA lenders have different and varying strategies, goals, priorities, cultures, can focus on different industry groups and business types, have different preferences for loan amounts and project location.
Why do only a fraction of business loans get approved by banks?
Often times, it is because a business owners didn’t go to the right bank for them. SBADNA match matches a business with the SBA lenders with the highest probability of approving their loan.
What are the factors SBADNA uses to match businesses and SBA lenders?
SBADNA matches a business to the SBA lender(s) with the matching experience, focus and approval criteria to that of the business.
How does a SBA lender’s historical experience indicate a match?
SBAmatch filters every SBA lender for the loans they have previously provided to other small business owners in the same industry, for the same business type, in the same location area, for the same loan amount range.
A traditional top SBA list gives a general indication of overall lending volume but doesn’t tell a business who the top ranked SBA lenders are for a restaurant owner or a dentist, in Chicago, for loans over $1M, for example. SBADNA does.
How does a SBA lender’s current focus indicate a match?
SBA lenders focus on different types of SBA programs, loans, loan amount tiers, industry and businesses types, and locations.
Historical SBA lending experience isn’t always the best indicator of future lending focus. Changes in people allocations, and economy are just a few of the host of reasons the past isn’t always an indicator of a bank’s future focus. SBADNA matches for lender inputs made for current focus in the key factors that match with the business borrower.
How does a SBA lender’s qualifying criteria indicate a match?
While the SBA is the same for all, SBA lenders differ. There are thousands of banks offering SBA backed loans and they usually have policies and criteria that is higher than the SBA minimum requirements. In addition, SBA lenders have different policies for things like credit scores, DSCR, out of state loans, startups, collateral, and flexibility for down payment requirements.
SBADNA matches for lender inputs for key qualifying criteria that matches with the business borrower.
Why is my current bank not usually my best SBA lender option?
While a local bank may feel like the right place to start because they “know” the borrower, it’s not common that a business’s current bank has the best matching combined SBA experience, current focus and qualifying criteria for the business owner’s specific business and financing need.
Why isn’t a national top SBA lender not always my best SBA lender option?
A national top ranked SBA lender may not even be ranked by SBADNA at all when based on a specific business’s industry, location, and needed loan amount. SBADNA match is designed for a borrower who doesn’t care as much about who the top 100 banks are nationally as they do who is the top ranked SBA lender for their business specifically.
Is SBADNA a loan broker?
No. SBADNA provides a matching platform but we do not “broker” SBA loans. While we provide a platform that is utilized by brokers and SBA consultants, we do not provide brokering or consulting services ourselves. Matched businesses and lenders work with each other direct without ongoing involvement from SBADNA.