In this month’s Funding University Podcast, we’re focusing on non-bank SBA lenders and speaking with Amy Perrella of Harvest Small Business Finance.  As Amy and I discuss, there are advantages of working with a non-bank lender because their lending guidelines tend to differ from the traditional banking lender, even though both are regulated.  Non-bank lenders don’t deal with deposits and credit cards which helps them differ from the traditional bank model and as a result, they have different lending requirements.  This means that where a bank might say no to your SBA loan, a non-bank lender might be able to say yes because they evaluate your situation using a different criteria. 

Both banking and non-banking lenders have their pros and cons, but the key is finding the right kind of lender to best meet your needs.  In my conversation with Amy, we touched on some big differences between the different types of lenders and discussed important points for you to consider as you begin to seek out a lender. 

As you’ll hear, Amy is really well-informed and has a wealth of knowledge about SBA lending.  She shares some valuable tips that can help you avoid making costly mistakes.

My thanks to Amy Perrella for sharing her time and insights with us this month.

Please keep emailing us your questions.  If you have a question you’d like to submit, you can send it to info@thefundinguniversity.com and we’ll do our best to have it answered in a future podcast. 

Take care and we’ll be back next month.