“They can help unlock up to $3 million of conventional debt on top of the $5 million limit of SBA 7A loans.”
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Said on Acquiring Minds
Business Wars · Big Beef: The War on Your Wallet | A Bloody Business
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secured a $300,000 SBA loan (equivalent to $3.4 million today) to start the plant
$300,000; $3.4 million today
“They can help unlock up to $3 million of conventional debt on top of the $5 million limit of SBA 7A loans.”
“They have created with AI tools, the equivalent of 300,000 workers”
“So what we do is we abandon the assets to the SBA and they never come pick them up. And I have a number of clients running a new business and using the assets that are secured to the SBA, which eventually security interest after five years, if it doesn't get renewed, and they don't often do it, expires.”
“In August, Jeff closed on the remaining two-thirds with an SBA loan.”
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