Can I Sign Hawaii Banking PDF

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[Music] hey guys good afternoon this is uh angelo christian financial with real estate insider today we're actually talking about sba loans versus commercial banks and the difference between both of them because if you're out there and you're trying to get a commercial loan a lot of people don't know there's actually a difference between commercial banks and sba loans and this video is actually brought to you and requested by one of our customers in orlando that we're actually doing a veterinarian he owns a veterinarian clinic in orlando kaiser sosa and he had requested that we actually make this video because his bank actually denied him for a commercial loan he's a veterinarian in orlando and he called us to get an sba loan right and so he asked us to actually shoot a video so if you have ideas about videos that you want us to shoot please let us know you can send us a message in the chat box below but basically there's a difference between sba loans which are government insured loans which are still made by a lender and there's actually commercial bankers or commercial lenders so you should know the difference between the different type of loan programs so when you're out there to apply for a loan you get taken care of properly you get the right type of funding so there's a huge difference between sba loans and commercial loans so here i have this on the left and right side you know we always use the whiteboard uh we're all about knowledge you're trying to learn but here we have sba loans here on the left side on the right side we have the commercial banks so on sba they have the two main the most popular loans for sba are the 504 and the 7a 504 is for like your real estate transactions when you're actually purchasing real estate 7a is for smaller deals under 5 million or less right and the real estate's not really involved in the property and you can go up to 90 percent loan to value right they only require a 650 credit score for sba and the cdc gets involved with the bank to help you to get the 90 loan to value if you're doing a 504 loan if you're doing a 7a loan uh you don't need the cdc you could just do you know just a straight financing with an sba approved lender on the right side usually and this is a very general uh situation here banks are going to normally want a 700 or higher credit score right off the bat because the loans aren't insured or guaranteed by the governments the bank has to back the loan so they're looking for a high fico and they normally want 75 percent low in the value that means you have to put 25 percent down in most cases you're gonna have to put 25 percent down the underwriting is usually very strict okay you're going to have to provide all your taxes your bank statements your w-2s you know they're going to check everything on you check everything on the property and one of the positives obviously is you want to develop i highly recommend developing as many strong relationships as you can with bankers it's good to develop relationships with bankers and that's a positive of you know working with your local banker to get that relationship very strong but as we saw like was we're going to this video is in september 2020 and uh we went through covid in the last six months there's been no liquidity right with commercial banks right now commercial lenders or for the last six months have kind of dried up the secondary market has dried up commercial lenders don't want to make loans a lot of them lost their job so where does america go to when they need funding right and that's why you have here the sba and that's the power of the sba loan right because you have you have the full credit faith backed by the federal government to back that loan and make that loan and you saw the sba stepped in with the ppp the eidl loan all these different coronavirus uh aid system programs the grants so i'm not saying that i don't like commercial banks i work with a lot of them all the time and we do a lot of bank lending but i also think that depends on where you're at banks are great right uh but there's also the downside i mean in both cases they're usually both still full recourse loans so the benefit here the power i think is with the sba if you're a new business or you're not you don't have a very large business like because you know there's limits here with the sba only up to 20 million if you have a very large business the sba is not going to work if you're a small business owner and you don't have a ton of money the sba is a great way because you only have to put 10 percent down versus over here you have to put like 25 percent down okay so it depends on what you do remember we're a nationwide sba lender so if we can help you to get funding with them then call our office at 832-431-6331 you can also click on the link below to get signed up you know we want to help you with any type of sba financing that you have whether it's in texas florida you know new york hawaii california we want to be able to be your number one sba lender in the country we've been doing this for over 20 years so if we can help you with anything we specialize in sba whether it's a hotel a restaurant maybe it's a golf course a bowling alley anything where you're gonna occupy at least 51 or greater uh and you meet these minimum requirements for sba uh then we can definitely help you to get the funding so reach out to us at eight three two four three one six three three don't think just because maybe you got denied uh by your commercial lender at your bank that you can get you can't get a loan for your project you can still get funding out there guys for sba sba is going very strong we can make that loan to you and get you pre-approved so reach out to our office at leave a 832-431-6331 down in the chat box on youtube if you have any video videos you actually want me to discuss and also recommend if you have any questions about the sba give our office a call at check out my next 832-431-6331 too guys thank you bye