115. Navigating SBA Loans for Coworking Spaces: Insights from Katelyn Hendricks, VP of Business Development, Byline Bank
Description
In this episode, we cover:
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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.
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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.
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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.
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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.
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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.
Resources Mentioned in this Podcast:
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