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115. Navigating SBA Loans for Coworking Spaces: Insights from Katelyn Hendricks, VP of Business Development, Byline Bank
Manage episode 432774613 series 3558170
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In this episode, we cover:
Understanding SBA Loans: Katelyn provides an overview of what SBA loans are, the different types available, and the benefits they offer, especially for coworking space operators.
Richie’s SBA Loan Journey: Richie shares his personal experience with SBA loans, detailing the challenges he faced and how Byline Bank's support made a significant difference.
Key Considerations for Securing SBA Loans: Learn about the essential documentation and preparation needed when applying for an SBA loan, including business plans, projections, and financials.
The Role of Banks in the SBA Process: Katelyn explains the importance of working with a preferred lender like Byline Bank, which can streamline the approval process and offer creative financing solutions.
Tips for Coworking Operators: Practical advice on how to structure your real estate deals and prepare for SBA loan applications to increase your chances of securing the necessary funding.
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