ABOUT
The SBA HERO, LLC
As the owner of SBA HERO, LLC, One of the greatest pleasures in life to me is helping others succeed. SBA HERO, LLC is here to encourage everyday people to take a leap of faith when standing at the crossroads of life. To believe in themselves and the American Dream which means many things to many different people.
Whatever that might mean to the reader it seems to all boil down to the pursuit of happiness which all Americans have the right to under our constitution. SBA HERO, LLC is also meant to clarify and shed light on the SBA program and what is eligible for financing. These loans are an important part of how families put food on the table, keep the lights on at home and send their children off to school.
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According to the U.S. Small Business Administration Office of Advocacy. There are 30.2 million Small Businesses in the United States with 58.9 million small business employees which is 47.5% of the United States Employees. With regards to Diversity there are 8.0 million minority-owned businesses. There were also 287,835 small business exporters. Small businesses are a massive part of creating and retaining millions of jobs.
With these numbers just mentioned you can see how important it is for the country to give access to the small businesses creating these numbers better opportunities to capital needed to grow their businesses.
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The SBA is a United States government agency that was established in 1953 by President Eisenhower to help grow the United States economy. The Small Business Administration (SBA) loans are made through banks, credit unions and other lenders who participate with the SBA programs. The SBA provides a government backed guarantee on part of the loan the lender is providing. The SBA has district offices and resource centers throughout the United States that will help you plan, launch, manage and grow your business. Taking the leap to own a small business can be incredibly liberating and at the same time the scariest roller coaster that you ever strapped into. The SBA program is designed to help you make that leap. Using the SBA lending products allows the borrowers to obtain high loan to value (LTV) loans that otherwise would not be available without the SBA Guarantee. One example of this is that the SBA program also allows banks to take risks on goodwill or intangible assets being sold with a business. Goodwill is the intangible asset that is not secured by the tangible physical assets being sold with the business. Traditional commercial lending practices do not typically finance goodwill.
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I have worked with thousands of borrowers in over two decades that I have been in SBA lending. Some have been happy-go-lucky going into seven figure debt, putting their home on the line as secondary collateral and you would think they were going to the grocery store to buy bread. Others the pen is actually shaking in the hand as they sign. Some borrowers I went out into the parking lot from the closing table and I had to talk them back into the building to sign at closing. You would have thought they were going to their own execution. Regardless of where you fall in the spectrum you all have one common goal and that is to become a successful business owner. You are committed and focused on the task at hand. SBA HERO, LLC will help you with the road map needed to keep your focus and help with obtaining financing.
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One of my smallest loans I can remember being involved with was for a single mom in a small town in Oregon. I passed through this town on my way to central Oregon to market the SBA opportunities. At closing this client was a mess. Tears crawled down her face with fear of the unknown. Terrified of failure and what that might mean to her small family that she was blessed with to support. She almost had me convinced to not let her move forward. Fast forward she signed and went into business for herself. Ultimately, she was a success. When I stopped in while passing through that little town, I found her working with her daughter smiling and almost singing while she worked. She was so happy that she stepped past her fears. It was like the old sink or swim mentality. So many times, people are afraid to fail. They never overcome the fear of failure and live a life they were not meant to live. Never fulfilling their destiny. I ask my young 10-year-old son “What is the meaning of life?” He says back to me, “Never Give Up, Stay Positive and Be Good to People.” It is a good basis for living a fulfilled life.
I remember two immigrants I did separate 7a loans for when the interest rates were in the 12 percent range. The first was a man who moved to the United States from Mexico. When I met him, he was in his 40’s, spoke very little English and lived in a car and was quite happy about that since it was a step up from living on the street. He joined a gym for around $25 dollars a month to shower and shave. He worked two full time restaurant jobs and recycled aluminum and glass. He had one singular mission and that was to own a Mexican style restaurant. There was no girlfriend, no drinking, smoking or vacations. Ultimately, he put the money together to make it happen. I never heard him complain once about how hard things were or if he was going to make it or not. He was also always happy to talk with me and smiled a lot as if he had already made it. There is a story about a Spanish Conquistador named Hernan Cortes from the 16th century. In 1519 Hernan Cortes landed in Veracruz to conquer the Aztec Empire. Once ashore he ordered his men to burn the ships. This took away the option of escape or failure without death. Can you imagine as the ships burned into the water the feeling that came over the men? There was no way out of this battle. They now had one option and that was to win the battle in a land they did not know, outnumbered, against an established Empire that had been around for about 600 years. I hear that phrase “burn the ships” used all the time. Usually from someone who wants to appear to motivate or possibly know their world history. Most likely they would crumble at the thought of putting everything on the line to pursue a richer and more rewarding life.
I knew very little about this client other than he was from Mexico and here legally. I did not fully realize until long after doing the loan how he embodied the power of emigrating to America and the true spirit of the SBA program. The loan was for around $1,700,000 he was able to not only buy an established business but the real estate that went with it. This was my first loan I did over $1,000,000. This client truly burned the ship.
The other client was from Vietnam and ended up in Portland, OR. When I met him, he was working at a gas station in the repair shop. I drove up, got out of the car in my banker suit and introduced myself. He was not intimidated at all by his lack of English or economic status. He only knew he made it to America and was going to make a change in his life. He wanted to become my friend. He started calling me all the time. I began to enjoy hearing from him. He was asking about options and what he needed to do to buy his own gas station. It took him about three years, a little bit of luck and some sacrifice but purchased his first gas station business on a private contract. This allowed him to purchase a home for his family. The real estate market was doing well and he gained a lot of equity in his home. He was ready to buy the real estate for the gas station now. The only way we could get the deal to cash flow and the money needed for the down payment was to have him sell his home. He moved into a small apartment with his wife and two kids in an undesirable part of town. This was an easy choice for him. He was able to look at his life and where he wanted to go at 10,000 feet not one inch in front of his nose. Sometimes we need to take one step back before we are ready to take a leap forward. The deal I remember took about 90 days to close due to environmental concerns. He was very nervous and anxious about the process. There was so much on the line for him and money had been spent that was not going to come back to him if the deal did not close.
What I did not know at the time is that he had been working at a convenience store in the evening and had three sisters in Vietnam that he promised to bring over to the United States. This was heavy on him and largely part of his desire to earn more income. He had a big heart and rather than earning money to promote himself or buy materialistic trophies that others may desire, he chose to work hard to help his extended family. How he handled his money was an obvious formula for success. After knowing him for 13 years he owned three homes his extended family lived in, a 16 plex and two gas stations with the real estate. I did a total of two SBA 7a loans and one 504 loan for him. I felt so good about working with this client and his family. He told me that he did not really think he was going to make it at first but did not have anything to go back to and had a wife and two children looking at him every morning that depended on him. There was no safety net. He now has more financial security than most of the people I grew up with that were born here in America to parents that were born here in America. He took the initiative to tap into the power of the SBA program. I tell my friends work like an immigrant and you won’t have much to worry about here in America.
Another client came to me telling me he left his small hometown and here in America wanting to make a change in his life. His goal was to own a franchise. He had been working in the restaurant industry since he was in high school. I told him to start working in the franchise concept that he wanted to purchase. Get some real experience. He chose a Dairy Queen. He said his late mother took him and his sister to DQ when he was young on weekends sometimes. He was not getting his money together very fast and the concept was not cheap for him and his financial means. He reached out to a potential partner and found a family member. Together they were able to get the money together for the purchase of the business under the 7a program. They came back 2 years later to ask for help purchasing the building. Later on he purchased his own three pizza franchises. He told me I changed his life and could not believe how lucky he felt and fulfilled for taking the risk. His family had never been business owners before and did not have any mentors. He just wanted to make a change and had some good luck by way of hard work.
Industry Experts
Sales Manager
info@mysite.com | Phone: 123-456-7890
Many times we have borrowers that come to us asking for an SBA loan and we cannot help them because the file is incomplete. The SBA requires a business plan with projections on loan requests that are start-ups or have a change of ownership. The process can be overwhelming for a borrower doing this usually for the first time correctly. SBA HERO has been there to get the client on track with their required business plan.
Certified Public Accountant
info@mysite.com | Phone: 123-456-7890
I do taxes for business owners who are typically very busy people. They do not have the time to spend on business plans when required for lending purposes. SBA Hero is able to move quickly with professional results. They have been great partners to me and my clients.
SBA Underwriter
info@mysite.com | Phone: 123-456-7890
Commercial Broker
info@mysite.com | Phone: 123-456-7890
I have been an SBA underwriter for most of my career and have seen it all. When I get a loan package that requires a business plan I read that first to give me an idea about the request. If the business plan is poorly written it sends up red flags immediately. I have reviewed SBA HERO business plans and the details are all covered.
When I submit a deal to a lender it has so much riding on it. I am 100% commission and my clients are very high touch throughout the process. When I work with SBA HERO I know that they get it right and work just as hard as me trying to get the loan request approved. They are a great part of the team.