Small Business Spotlight

SBA 7(A) Lending

A Business Loan Closes at Lightning Speed

Learn how we met an incredibly tight timeline and closed this deal in 15 calendar days. 

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Loan Amount

$1,705,500

Loan Purpose

SBA 7(a) Business Acquisition

The Small Business

FedEx | Litchfield Park, AZ

The Financing Challenge

Repeat clients came to us with a challenge: closing
their loan with an extremely tight timeline. Two
brothers, one being a veteran, acquired their first
SBA loan with another lender in early 2023. Later that
year they approached us through a referral partner
about buying another similar operation. We financed
their second loan in Arizona and they continued
looking at other operations to grow their businesses.
One brother who was located in California, decided
to move to the Midwest for new opportunities and
landed in Iowa. To make this happen, we had to
finance this deal incredibly fast. If we couldn’t meet
the hard deadline, the deal would potentially fall
through or be pushed back at least six months. From
time of commitment to close was 15 calendar days.
There was a major team effort to get this done in the
time we had. Favorable financial and market trends
due to the overall market strength helped move this
along.

SBA 7(a) Loan Scenario

Here's what our borrowers brought to Ready Capital

No Money Down

No money down or outside collateral.

Existing Relationship with Ready Capital

Existing repeat customer with multiple loans.

Management Experience

Strong experience in management and operations.

CREATIVE SOLUTION

To get this loan financed, it was truly a collaborative team effort to fund it within 15 days from commitment. We knew we had a hard deadline, and our team pulled it together at lightning speed. The Business Development Officer took charge of this and led the way to make sure that this was a success story. We had a great referral partner who also helped throughout the entire process to make for a smoother closing.

Download the PDF of this case study â–º

Reliable Results

  • We funded the loan in 15 calendar days from commitment to closing.
  • The borrowers were able to grow and expand their business and add a fleet of 39 new trucks to their operation.
  • We looked at the entire picture and market trends in order to move things along at a faster speed.

The Non-Bank SBA Preferred Lender Difference

A small business loan is not an empty box like a checking or savings account. No two small businesses are alike when it comes to their financing needs. This means that small business financing requires out-of-the-box thinking and capabilities many banks simply can’t offer.

Ready Capital is a non-bank, SBA preferred lending partner (PLP). We speak fluent small business and have the process in place to help them reach their goals the first time.

Apply for an SBA 7(a) loan

Start the application process for any size SBA 7(a) loan.

Loans above $500K

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Loans below $500K

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