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LoanBox is the Business Owner's Crystal for Selecting a Lender
Getting it right the first time holds immense value for small business owners. LoanBox empowers entrepreneurs to select the right business loan and lender, from the outset. This is why LoanBox shines for big small business loans, when delays from not getting it right can result in losing out on the deal all together. Use LoanBox to get your big small business loan done right, with the right lender, the first time around.
A Dozen Ways SBA Lenders Differ
From our experience, the biggest misperception by far about SBA lenders is that they are all pretty much the same. After all, how different can an SBA loan be from one lender to the next? The truth is that while the SBA is the same for all, SBA lenders are very different from each other, and many are different in many ways.
3 Essential Questions for Choosing the Right Lender for Your Business Loan
3 Essential Questions for Choosing the Right Lender for Your Business Loan
Selecting the right lender the first time can be complex, but it ultimately boils down to three key questions about how the bank relates to you at this moment in time for your current situation and circumstances. At LoanBoxBox, we match businesses with SBA lenders based on three primary categories: experience, focus, and criteria. For franchise borrowers we add a fourth component which is brand familiarity.
Not All SBA Loans or Lenders Are Created Equal
Understanding the landscape of SBA lending is crucial for small business owners navigating their financing options. The SBA is working to make its lending process more accessible and streamlined, as reflected in their recent updates to standard operating procedures (SOPs). A significant change you’ll notice is the phrase “do what you do,” which appears six times more often in the new SOPs. This shift promotes greater lender autonomy, allowing them to exercise more discretion in key areas and fostering a more dynamic lending environment.