Mar 6, 2024
This week’s episode of Grow Money Business features Ray Drew. Ray is a top-producing SBA 7a Lender, podcast host, and SMB investor. He is currently working as the Managing SBA Business Development Officer at Fund-Ex Solutions Group. Throughout his career, Drew has focused on assisting small business owners with the complexities of small business administration loans. It is his responsibility to assist the entrepreneur in developing a tailored loan solution that addresses the specific requirements of the business. He joined us today to talk about the primary business loan program of SBA, change of ownership, non-bank lenders, the role of a business development officer, and more.
[05.00] 7(a) loans - The primary business loan program offered by the SBA to small businesses in need of funding.
[12.53] Past and present – Ray explains the big changes in SBA in 2023.
[16.14] Change of ownership – Ray explains the partial change of ownership in SBA.
[27.09] Business development – Grant and Ray discuss the role of a business development officer.
[32.17] Nonbank lender – Grant and Ray discuss nonbank lenders, a loan provider who isn't a conventional bank.
[36.13] Real-estate – Ray shares his thoughts on commercial real estate for small business owners.
[39.53] Terms on loans – Ray explains what you can do to improve your terms on loans.
Resources