SBA Loans

BasedBaker

Sparrow
I'm looking to breakout of the ZOG controlled corporate world and buy business. I want control over my life and the vaccine mandate was the wake up call that I need to be in control of the livelihood and not at the mercy of a corporate paycheck. I don't have a trade skill, but I know a little bit about business, sales and marketing.

I am looking at purchasing something along the lines of a carwash, storage units, laundromat, something that can provide some passive income for me, doesn't require a skillset of trade skill that I don't have. I have enough money for a solid downpayment but the key is I want to get out of Commiefornia and I will need to buy a home for my family. I've built up a good amount of equity on my home here but with a downpayment on a new home and business that doesn't leave too much room for anything to go wrong. I wanted to know if any of you have taken out SBA loans, thoughts on them and if anyone had any advice for me. Thanks.
 

Enoch

Hummingbird
I'm looking to breakout of the ZOG controlled corporate world and buy business. I want control over my life and the vaccine mandate was the wake up call that I need to be in control of the livelihood and not at the mercy of a corporate paycheck. I don't have a trade skill, but I know a little bit about business, sales and marketing.

I am looking at purchasing something along the lines of a carwash, storage units, laundromat, something that can provide some passive income for me, doesn't require a skillset of trade skill that I don't have. I have enough money for a solid downpayment but the key is I want to get out of Commiefornia and I will need to buy a home for my family. I've built up a good amount of equity on my home here but with a downpayment on a new home and business that doesn't leave too much room for anything to go wrong. I wanted to know if any of you have taken out SBA loans, thoughts on them and if anyone had any advice for me. Thanks.
Yes I have taken several SBA loans over the years and paid all of them back. The SBA backs the loans up to 90% of the issuing banks exposure so if you do not have a lot of personal collateral this may be the way to go. SBA loans for real estate have lower down payment requirements than regular property loans. I would think of the SBA loan as a crutch that a regular lender uses when there just isn't enough collateral for them to assume the risk. Downside is that the SBA loans tend to be more expensive and there are other restrictive covenants.

Out of what you listed I would look at storage units. There are also financing outfits that JUST do storage units at excellent rates.
 

BasedBaker

Sparrow
Yes I have taken several SBA loans over the years and paid all of them back. The SBA backs the loans up to 90% of the issuing banks exposure so if you do not have a lot of personal collateral this may be the way to go. SBA loans for real estate have lower down payment requirements than regular property loans. I would think of the SBA loan as a crutch that a regular lender uses when there just isn't enough collateral for them to assume the risk. Downside is that the SBA loans tend to be more expensive and there are other restrictive covenants.

Out of what you listed I would look at storage units. There are also financing outfits that JUST do storage units at excellent rates.
Thank you brother Enoch, I appreciate that advice. I will look into it. That's what I'm leaning closest to going for, just none available in the area I'm wanting to move the family too. But, I guess I could always build.
 
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