Who is the Right Lender for Your Business Loan?

While there are hundreds of related factors and nuances in selecting the right lender right the first time, it really comes down to 3 fundamental questions about the bank for how the bank relates to you. LoanBox matches a business to the SBA lender(s) based on 3 primary categories of lender selection: experience, focus and criteria. These three factors determine many different outcomes.

Past Experience:

Is the bank experienced with businesses like mine?

Expertise and experience providing loans to other business owners in your same industry, business type and age, location, and loan amount needed. LoanBox 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.

Current Focus:

Is the bank currently focused on lending to borrowers like me?

Currently focused and motivated to lend to business owners like you, for the loan purpose you are seeking, for the loan amount you need. Those who want your loan. 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 (but usually) an indicator of a bank’s future focus.

Matching Criteria:

Can I qualify for the bank's approval criteria?

Has policies and requirements for qualifying (credit score, cash flow, start-ups, collateral, type, previous bankruptcy or judgments, etc.) that matches your personal and business criteria situation. While the SBA is the same for all, SBA lenders differ. SBA lenders have different combinations of policies for things like credit scores, DSCR, out of state loans, startups, collateral, and flexibility for down payment requirements. Banks aren’t all the same and each are looking for different kinds of borrowers and different kinds of loans.

LoanBox Unmatched Matching

LoanBox is unmatched in its ability to secure big loans for small businesses. Our platform specializes in matching small business and franchise owners with the right lenders tailored to their specific loan requirements and unique circumstances. The larger small business loans are often used for purposes like acquisitions, expansions, partnership buyouts, joint ventures/mergers, succession buy-ins, and commercial real estate. In these critical scenarios, the last thing a business owner needs is a prolonged approval process ending in rejection or an unfavorable agreement. Delays in securing necessary funding can significantly impact a business, sometimes resulting in lost opportunities.

LoanBox employs advanced technology to ensure your significant small business loan is paired with the most appropriate lenders. When business owners submit their loan packages—comprising their application and documentation—LoanBox algorithms immediately begin calculating and cross-referencing against the criteria of LoanBox lenders. This includes national lenders, specialty niche lenders, SBA lenders, conventional only lenders, and local lenders. The platform’s next-level filtering and matching system matches for multiple criteria, each of which can have sub categories as well:

Franchise Brand
Debt service coverage ratio
Years in business
Startup
Guarantor
Debt-to-income ratio
Debt-to-equity ratio
Loan-to-value ratio
Equity injection
Subsector and industry
Credit score (estimated)
Borrower type
Loan type
Loan purpose
Loan amount tier
Geography
Other qualifying and bank focus metrics

By targeting loans with precision, LoanBox saves business owners valuable time, reduces costs, and alleviates stress.