Hello,

I had introductory calls with 4 lenders about a month ago as I started to look into SBA loans. Two were referred to me by a close friend who owns multiple businesses and two were referred by a business mentor. All 4 have given me meaningful feedback on my situation and advice for next steps.

Now I’m ready to actually get the ball rolling and upload financial docs. At the end of the day, I think getting the best interest rate regardless of who does the loan is the most important thing for me. How do I respectfully shop rates between them? Should I let them know I’m speaking to multiple lenders and it comes down to rates for me?

  • Banksville@alien.topB
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    1 year ago

    WOW! Great work. Definitely good to be upfront as much as you can. Best NOT to send/contact 20 lenders as that’ll get noticed in the ‘lendershere’ & many will not be interested or even quote higher as they figure their chances of closing the loan is a long shot. (I learned along the way.) GL!