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SBA Loan Questions
Looking at purchasing real estate + business and I have questions regarding an SBA loan.
The subject business has been leased out to a 3rd party and is currently being foreclosed on by the landlord. Upon foreclosure I am looking to open escrow to purchase from landlord.
I called a few community banks for an SBA loan and they claimed that tax returns were needed for the past 2 years to proceed with the loan, but with an uncooperative tenant that is being foreclosed on, I don't think that's happening.
Can someone educate me how difficult it is to purchase without tax returns, and if I have other - feasible - options I can explore to make this deal happen.
Purchase price is 1 mil + and it would be hard to qualify for a commercial loan.
Look forward to the responses
Most Popular Reply
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- Alex Craig
- 901-848-9028