May 22, 2024
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Alex McAloon, CEO of Fastway SBA, answers one of the most frequently asked questions - "Are all SBA loans the same? Why does it matter what bank to apply with if its an SBA loan?"
Transcript:
0:05 The SBA is just a set of guidelines that the
0:07 government gives out to the banks and
0:10 then the banks interpret those
0:11 guidelines so we work with dozens of
0:14 lenders who all interpret it a little
0:16 bit differently the one big difference
0:17 is even just profitability so some
0:19 lenders you need to have a profit some
0:21 lenders look at the tax turn and some don't
0:23 need to show a profit so losses are acceptable
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