Getting an SBA loan?

Kaitlin B.
Kaitlin B.
  • 3 years ago

If you take a mortgage from a bank and then try to get a business loan from the SBA through your bank, would they be less likely to approve you since the bank is already holding your mortgage?

Banks have exposure limits to any one customer, but this probably won't be an issue (depending on the size of the SBA loan). Be aware that not all banks like the SBA loan process, you might contact your nearest SBA office to find out which lenders they work with.

It should not matter if you already have loans with the banks. I know a number of business owners who have both SBA and non-SBA loans with the same lender. As long as they are ok with the overall exposure (how much you owe them in total), it should not make a difference.