Key Takeaways
“At RBAC, everything runs very smoothly; everybody knows their job to do. They're recognized as a top SBA lender and have a very good reputation within the banking communities.”
Key takeaways:
- Finding the right lending partner for your client is like matchmaking at its finest.
- Face-to-face meetings, group emails that keep everyone in the loop, and a network of partners who are invested in client success turn complicated deals into a smooth lending experience.
- Conventional lending requires a hefty investment while SBA loans help preserve capital and give owners the flexibility they need to grow.
What happens when a business consultant and an SBA lender team up for their clients? We asked John Burke, the president and CEO of Coastal Commercial Group. He’s been partnering with RBAC for more than 15 years and has seen firsthand how teaming up with the right people helps businesses achieve their goals.
Matchmaking—SBA lending style
As a business consultant, John’s job is part strategist and part matchmaker, and when businesses want to grow, John knows exactly where to go. Since 2009, John has worked with our team at RBAC to help his clients navigate the SBA lending process to reach their goals.
“RBAC knows the government lending side,” he explains. “They know what can and can't work. They’re very knowledgeable about all the regulations and the little nuances that will prevent a deal.”
When there’s a snag or a hiccup, he knows that our connection to the SBA is an advantage for his clients. Throughout our time in the industry, we’ve met a lot of people and built a lot of relationships, and John’s confidence in our team is clear when he points out, “If there’s a problem with a deal, William, [RBAC’s executive director], knows all the right people.” Our genuine relationships with the SBA and other lenders and our proactive approach means the difference between scrambling to solve problems and preventing them before they start.
John’s role is to help clients plan, advise them on financial matters, and assist them with business acquisition as well as commercial real estate purchases. Our role is to make the lending process as smooth as possible. When we come together, it’s a match made in heaven.
Face time still matters
In a world of Zooms and conference calls, it can be easy to forget what it feels like to sit down over a cup of coffee and meet face-to-face in real time. At RBAC, we make it a priority to meet with our clients for a real conversation. It’s all about relationships.
Over the years, John has seen firsthand how these relationships can help businesses flourish with the right financing. “William and other team members meet with the clients face-to-face and they’re always a good sounding board.”
These relationships can make deals go smoother. When John lists everyone involved in the loan process, it sounds like a small village. “We have the credit manager for the bank, we have the RBAC team, and we all know the attorneys too,” and shares that having everyone on the same page is crucial for keeping the deal moving.
John shares the secret that makes everything work, even with all of the gears that are in motion: “At RBAC, everybody knows everything. There’s usually an email that includes everybody in the circle.” We make sure that our relationships with our clients and partners are at the forefront of everything we do.
The right loan for the right client
No two deals are the same, and we’re skilled in finding just the right loan and structuring it to help the client meet their business goals.
Whether John’s working with an HVAC company buying a bigger property and building a warehouse, a fishing pole and reel wholesaler moving to a larger location, or a flooring business buying a new building, he knows that he can bring them to RBAC.
With competitive rates and low down payment requirements, our SBA lending model can make their dreams a reality.
When companies want to expand, conventional lenders typically require 25% or 30% down for commercial real estate. The SBA 504 program, on the other hand, only requires 10% and comes with longer terms and a fixed rate. For companies that need working capital or inventory, the SBA 7(a) loan program can provide the funding they need.
The real advantage of SBA lending, however, is its focus on where the business is going rather than leaning too heavily on where it’s been. Instead of looking solely at a business's past performance, RBAC looks at the business plan and projections. We have flexibility within SBA guidelines that conventional banks simply don’t have, giving us more opportunity to find the right loan for the right client.
A partnership that delivers
Over 15 years of partnership has turned John and RBAC’s partnership into a well-oiled machine that lends with confidence.
“SBA 504 has great benefits for clients,” John says, “And a good thing about RBAC is that it’s well run. We have a good, solid board of directors. And our default ratio is very low, which is a statement for the company—we don't have many delinquencies, so we're not putting bad loans on the books.”
The lending process can sound a bit complicated, John admits, but in reality, “it’s a pretty simple process. It may sound like a lot, but our company does a lot of the work up front.” By the time it comes to RBAC, it’s a relatively quick process to get the financing approved.
If you have a client who needs the right partner, give us a call. We’ll sit down for a cup of coffee and create their future together.
