SBA Loan Success Stories 🎉

Called SCORE (free business mentors) — got matched with a retired banker

Wrote a simple 2-page business plan with her mentor's help

Gathered 2 years of food truck tax returns + bank statements

Walked into Chase Bank and asked for their SBA specialist

Pre-approved in 3 weeks. Found a 1,200 sq ft space on Commerce St.

Loan fully funded. Keys in hand. 60 days total.

Got a signed "Letter of Intent" from the client for the $2M contract

Called the SBA Atlanta District Office — they pointed him to a Wells Fargo SBA lender

Submitted 3 years of business tax returns + the contract letter

Loan approved in 6 weeks. Used the money to hire 4 engineers + 1 project manager.

Won the $2M contract and delivered on time

Found the business through a broker. Seller had 3 years of clean financials.

2 big banks rejected them ("we don't do business acquisitions")

Found an SBA-preferred lender at a local credit union — they LOVE acquisition loans

Put down just 10% ($42,000 from their savings)

Submitted seller's financials. Approved in 8 weeks. Closed the deal!

Talked to his accountant — she found he had 2 years of unfiled taxes 😬

Filed his back taxes first (took 3 months). Then applied for the loan.

Applied through TD Bank SBA department. Showed 5 years of sales history.

Used loan for 2 hydraulic lifts, diagnostic equipment, and 3 months working capital

Hired 2 ASE-certified mechanics the same week the money arrived

Visited the Seattle SBDC — they helped her write a business plan for FREE

Got her WA State childcare license first (lenders want this before funding)

Signed a lease on a 3,500 sq ft space in Capitol Hill neighborhood

Applied through HomeStreet Bank. Loan covered renovation, playground, furniture, and 6 months of staff pay

Pre-enrolled 28 kids BEFORE opening day 🎊

Found a small 2-story commercial building on Wentworth Ave for $1.5M

Called a Chicago CDC (Certified Development Company) — they guide the whole 504 process

Put $150,000 down (10%). Bank financed $750K. SBA financed $600K.

Locked in a 25-year fixed rate at 6.1%. No more landlord surprises!

Rents upstairs unit to another business — extra income!

Found a dental-specific SBA lender (Bank of America Healthcare) — they do this all the time

Found a commercial condo for $900K + needed another $900K for dental chairs, X-ray machines, equipment

Used SBA 504 for the building + SBA 7(a) for equipment (banks often combine these)

Put down $180,000 (parents helped). Hired 2 hygienists before opening.

Opened "Martinez Dental" in Cherry Creek. Full patient schedule within 3 months.

Checked his lease — he had "right of first refusal." Could buy before anyone else!

Called a Louisiana CDC. SBA 504 moved fast — approved in just 45 days!

Property appraised at $1.1M but Tony negotiated the price down to $950K 💪

Down payment: only $95,000 (10%). Monthly payment now: $4,200

Old rent was $6,800/month. Now pays $4,200 AND owns the building!

Found a 15,000 sq ft industrial building in Warren, MI (near Detroit) for sale

SBA 504 is designed for exactly this — "fixed assets" like land, buildings, and major machines

Added $400K for 3 new CNC machines to the loan package

Michigan CDC helped manage all the paperwork. Bob just had to sign.

Moved into the new building. Hired 8 new machinists. Accepted all the contracts he had to refuse before.

Found "Accion Opportunity Fund" — an SBA-approved microloan provider

Applied online. Credit score was 582 (below what most banks want). Still approved! ✅

Approved in just 2 weeks. No collateral required.

Used the money to lease a shared commercial kitchen + buy 2 commercial ovens

First wholesale order came in from a local restaurant 3 weeks after opening

Needed $18K for a used truck + $4K for equipment. No bank would touch it.

Walked into the Florida SBDC (free!) — counselor found him a microloan provider in 30 minutes

Applied to Community Reinvestment Fund (CRF). Simple 2-page application.

Approved in 3 weeks. $22K loan at 8.5% over 6 years = $380/month payment

Bought a used F-250 + trailer + new mowers. Hired his cousin. Had 2 crews running within a month!

Found a perfect 650 sq ft space in a busy Westheimer strip mall. Rent: $2,200/month.

Needed: $15K renovation + $12K pedicure chairs + $11K working capital = $38K total

Applied to LiftFund (Texas microloan provider). Credit score: 614. They said YES!

Submitted: business plan + 1 year of personal tax returns. That's it.

Opened "Priya's Nail Bar" in September 2023. Her loyal clients followed her day 1.