Posted by Shoshana/AZ on 4/17/13 4:27pm
Msg #466097

What is an SBA closing?

I just got an email about one here in town. How big is it? How much do you charge for that? In all my 11 years, I have not ever had one.

Reply by ananotary on 4/17/13 5:06pm
Msg #466102

Small business loan. I do these frequently. They are a large part of my commercial closings.

Reply by TamaraCA on 4/17/13 5:48pm
Msg #466107

I am suprised you have never heard of one. SBA loans are a little bit like the business version of an FHA loan. The government will insure a percentage of the loan when certain criteria is met - if I recall its 40%. So the bank is a little more forgiving on typical restrictions. I think they are a little more forgiving on a secondary source of repayment and how long you have been in business.

Reply by CaNotary777 on 4/17/13 8:52pm
Msg #466151

Ana are SBA loans more payin than regular refi's? n/m

Reply by docs2go/ca on 4/17/13 11:43pm
Msg #466165

Re: Ana are SBA loans more payin than regular refi's?

I did one recently and it took 15 minutes and I only had to notarize 1 document.