Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 54%
$32.50 /mo
$390 billed annualy
MONTHLY
$69 /mo
billed monthly
7 day free trial. Cancel anytime
×
Take Your Forum Experience
to the Next Level
Create a free account and join over 3 million investors sharing
their journeys and helping each other succeed.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
Already a member?  Login here
Commercial Real Estate Investing
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 5 years ago on . Most recent reply

User Stats

685
Posts
334
Votes
David Avetisyan
  • Rental Property Investor
  • Glendale, CA
334
Votes |
685
Posts

SBA Loan Questions

David Avetisyan
  • Rental Property Investor
  • Glendale, CA
Posted

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

User Stats

1,448
Posts
1,543
Votes
Alex Craig
  • Real Estate Professional
  • Memphis, TN
1,543
Votes |
1,448
Posts
Alex Craig
  • Real Estate Professional
  • Memphis, TN
Replied
I am getting a 1 million dollar SBA loan to open a restaurant and the process is grueling. I would think it would be impossible to get a SBA loan without returns. I seriously think they are going to ask me for DNA next.
  • Alex Craig
  • 901-848-9028

Loading replies...