Bro this is amazing. I have an SBA horror story. I went to buy a company to expand my pool company And it drug on for about six months and come to the end tell us that we could get to financing for ridiculous reasons. Basically we went through a local bank who was unqualified to give us an SBA. Great job looks like Glenn knows what he’s doing. I’m about to buy another company either the end of this year next year so I’ll definitely be get in touch with him
Tariq, I am looking at purchasing a franchise. The franchise I am looking to buy said that I need approx. 150K to start this would cover about 3 months of being in business. I know that it will take much longer than 3 months. How much can you apply for? Can you purchase the real estate with the SBA? Who can I talk to about this?
"Everything you need to know"? This video/ podcast covers very little about SBA loans. I am not going into a long list of what you didn't cover though what about important information such as UCC-1 filing and other SBA loans other then 7a and how they are structured. Try not to be a click bate channel (be honest in your title).
I’ll give Huntington bank a call tomorrow. I went on their website and they have a list of loan officers and showed the states that they are in but I didn’t see California which is the state I plan on buying the franchise in. They claim to be #1 SBA Lender in the Nation. So I’d assume they do it in all states right?
@@TariqJohnson thanks so much for your knowledge... I'm sure Glenn New office in Nashville and nationally could use my pressure washing services right 😅, peace.
I get it. It took me 9 years from when I first started looking at franchising, until I bought my first one. I believe in you buddy. You can do this. 👊🏾
Hi Tariq. I’m looking to buy a business without down payment for the business loan I do need to fix my score credit It’s not that low What is your suggestion for this request ?
Hey Tariq. Great video. My partners and I are in the market for a SBA loan. Appreciate this interview with Glenn. My partners and I are reaching out to him. Thanks and keep up the great work.
Hi Tariq,. Could you make a video of the step by step processes involved from nothing to running a business, such as what are the chronological steps you have to take for the business to be up and running, because I am very confused!
Hey Jashan, I’ve done a video like that in the past that is franchise specific : How to Buy A Franchise [2022] EASY 9 Step Guide ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-oD7IIXaHFsg.html
Love this'' Vlog" Thank you T.. I had 0 Faith in the SBA from last Year.. It was a Nightmare... I never received a the Grant" I was Approved' for.. And mu Business Expired so then i was Denied" actually from" my business expiring' after waiting a whole Year" to receive funding.. Just a Nightmare... but am so happy to hear that there are Consultant's that can help' the New Businesses.... Hopefully some businesses can be reestablished' with out all the high fee's.. My New fees are $1024 to reestablish way out of my buget' but am praying for small business owners...
Hello. I'm a truck driver. And I just started my own company. RHO-Trucking. I'm looking for grants or a loan. Is a SBA loan, good for truck drivers and how would it benefit me, to help get my 1st truck and supplies.
How can I speak to this guy? My SBA loan was approved in September 2020 and I still haven't gotten my money!!! I'm so pissed about this!! I've lost alot because of this..my business was starting to grow and because of the SBA sandbagging my disbursement for 2 years I've lost almost everything in business!! I call the sba and keep getting the line.
They were a Nightmare last year" I waited a whole year to receive the Grant" till my Business Expired" they Denied" me on an expired" License with in a week" But took a year waiting for the Grant" Awful
I am scared I won't get SBA loan. If I don't get approved we end up going under. I got credit in low 500's and been LLC since Aug 31 2022. Service truck I use falling apart. And equipment and inventory causing us have to turn away some of work.
Tariq, thank you for all the information you provide. I have a company that invests in oil and gas wells/water, etc and am looking for capital. It doesn't sound like I could qualify based on the type of business I am in. Any thoughts? Thank you again for all of your info. Would love to purchase a franchise for cash flow. Trying to learn about this as much as possible.
Hey think you can help me or give me advice on what to do about an approved loan that was always approved but never funded in over three years. Now they say they canceled it.
So when considering an SBA loan, which we currently are to expand, do you just go to your local Huntington Bank? Or does Glen work with small business applications from all over?
I have a great SBG rep I would not change her for anything. She goes over my business plan its taking me about 2 years still working on the BP. I also worked on my credit the whole time.
So if a General Contractor/developer to build single family homes can't get an sba loan. Although I am a small business and could use a working capital loan or a line of credit for small jobs.
@@TariqJohnson Bro needs to improve his speaking skills. Saying "kinda" 3 times in a sentence and in every sentence indicates lack of confidence and is hugely distracting. I hope I kinda answered your "eh?"
After receiving preapproval from Ready Capital, the process has stalled. Could Huntington assist me? Quality candidate w MD/MBA and collateral. Startup low volume.
AMAZING- There is NO such thing as an "SBA LOAN", its an SBA backed loan. 😮 ** we're in accounting and finance, $200 accounting (really) depends on the type and formation of your business. 😉
My wife and I are trying to start the Cargo Van hauling business, but I need funds to start buying equipment and Caro van, including LLC,Website, and advertising material.including commercial business and LLC Insurance. Advise and help with tip. What do I need to start applying
Talk to a business banker at your bank and watch this video on funding. ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-VQhnGLuHDTs.htmlsi=JiB5OG4qRDocb6hh
It May be great content, however I cannot get a SBA loan because I have no personal credit at all! The 3 major credit bureaus refuse to report any payments I make unless I pay them for their programs to report my payments! Does this sound like fraud to anyone else?
Are these loans ever made without a personal guarantor? Last thing I want is to take a shot in a small business, have the business fail since more than 50% do, and then have the creditor come after my personal assets bc I’m a personal guarantor. If the Sba already covers the loan why also come after the owners personal finance?
I want to know can I get a SBA loan I have over 700 credit score my business been in existence since 2021. I don’t have the capital how can I get the loan?
It sounds like we are one of those categories. We expanded last year, but couldn’t get loans. Would could only get credit, and now have high interest. I’m not sure if I list as debt consolidation or expansion now or if that affects our qualification.
I got an sba loan that got returned because my bank account was closed...I have yet to get that money... how would I go about getting it back? Any suggestions?
Hello !! I would like to start a new business and use a SBA loan as a funding option. In the case I want to expand the business in the future, can I request for another SBA loan ? How many times can a business owner apply for those loans ? Great podcast, thank you.
Sorry to hear that, I haven't gotten that feedback from anyone else. Send us an email at info@tariqjohnson.com and we can help make sure you get in touch with him.
Okay Tariq, I get it bud.....I'll go check out your friggin business acquisition channel, but can ya let the guy talk about the ins and outs of SB-FRIGGIN-A LOANS!!! Jeez, feels like I'm just watchin a timeshare present of how to buy a damn franchise! Respectfully of course.....
Oh man. I appreciate you throwing in the respectfully part. We've had a lot of really great feedback on this podcast interview. The audience I serve is franchise buyers and franchisees, so that's what the conversation was primarily tailored around. I thought we diversified it well into business acquisitions too, which is not an area we serve in my business. We only help with franchise resale acquisitions. Either way, all the best to you.
@TariqJohnson Okay, you got me. I was being a bit of a jerk. I appreciate your professionalism. Honestly I'm just a little frustrated because I'm trying to break into the entrepreneural life (if that's a word) and with all my research I can't seem to see a clear path forward. (Don't mean to turn you into dr phil) But everytime I find someone successful make a video on one model, there's another saying the model is no longer viable. I swear it's like looking for a needle in a haystack. I like the idea of buying a franchise, but im a career inventory control/retail asset protection guy and it just seems like the "brick and mortar" path would be more headaches...like tracking inventory using software, training associates, having a reliable supplier and a good buy-back program, also having to deal with all the fraud that will happen. Sorry to talk your ear/eyes off...I just want to escape the matrix and be successful for my family.
I totally get it man. I shared your frustration. After trying and failing at 9 different businesses. I grew frustrated and skeptical at all the people touting their get rich quick schemes. For me personally, franchising was the stepping stone I needed at the time, because I need something more legit and proven, and it got me out of my own way of overthinking and getting stuck. My dream business was to always be a youtuber and have an online business helping people. Franchising helped me to get where I wanted to be, so I'm a little biased. I'd recommend you watch this masterclass training I did (free) I dive into my story, and how I made the transition and some of the ways to buy a franchise that most people don't talk about. www.franchiseempire.com/masterclass
For properties, should you get an SBA loan or utilize a lower percentage for your second home? (Airbnb question). Also, considering the guy you’re questioning, it seems he only offers funding for commercial real estate instead of those looking to risk it in airbnbs.
