NOAH Business Owner applying for an SBA loan?
I think this could be the best opportunity of all. I just don’t know exactly how to get you there.
Fact is, we see this ALL THE TIME. A business owner needs a loan, for whatever reason—growth, expansion, a move—whatever.
So they apply for a loan. Mind you—they NEED this money to LIVE THEIR DREAM. Needless to say, they’re always extremely anxious.
Near the end of the process, the lender informs their client that the lender needs collateral for the loan, usually in the form of a life insurance policy. Then……and only then…..the life application process BEGINS. And nobody is happy.
- These cases are everywhere. There is a huge need being unfulfilled. The key is to convey the need in the beginning of the loan process, not the end.
- Do the market research. Navigate sba.gov to look for opportunities.
- Work with lenders. Lending companies. Local banks.
- Familiarize yourself with “drop ticket” methods for securing policies quickly. Some carriers offer a variety of plans and application processes.
Last time I checked…