Stearns Bank: Lender Fit
The Fit
Bank. A high-volume nationwide SBA lender whose streamlined small-dollar product reaches the loans big acquisition desks deprioritize.
At a Glance
- Type
- Bank (lends directly)
- Footprint
- Nationwide.
- Deal Size
- under $500k to $5M.
- Searcher Practice
- A general SBA lending desk, handled remotely.
- Published Terms
- A streamlined small-dollar 7(a) product for the loans bigger banks skip.
The Full Review
Stearns Bank is reviewed in full in the directory, with its model, the searcher case for and against it, and every source: read the Stearns Bank review.
How to Approach
Stearns Bank is a bank, so this is how that kind of lender comes in, what it weighs, and how to arrive ready.
The Typical Arc
- A prequalification on you and the target, often from the first email.
- A full application and the bank's own underwrite of the deal.
- A term sheet, then closing on the SBA's timeline, commonly two to four months.
What It Weighs
- Whether the business's cash flow covers the debt with room to spare.
- Your experience relative to the business you are buying.
- Your equity injection and how clean the financials are.
How to Prepare
- Model the payment and coverage before you call. SBA Acquisition Calculator
- Underwrite the specific deal end to end. Underwrite a Deal
- Show where every dollar comes from and goes. Sources & Uses Builder
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