How to Leverage SBA Loans to Grow Your Early-Stage Business

The Home Service Expert Podcast

Tommy Mello

Business, Management

4.8 • 705 Ratings

🗓️ 2 July 2021

⏱️ 54 minutes

🔗️ Recording | iTunes | RSS

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Summary

Joshua Kim is the founder and CEO of 7a Accelerator, a company that provides consultations, resources, and concierge-style assistance for business owners on capital solutions and securing the right SBA lender. By leveraging $2.5M+ in SBA 7(a) financing, he purchased his first businesses at 19 and 20 years old. A transactional entrepreneur, he is an expert in M&A and government-guaranteed financial instruments.

In this episode, we talked about entrepreneurship, management, leadership, finance...

Transcript

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0:00.0	objectively speaking, you're not going to be able to get a better rate or term than an SBA loan,
0:04.4	but a lot of times people, they don't know about it, so they get stuck into, you know,
0:07.9	they get stuck in an inferior sort of working capital solution. They're paying crazy double-digit
0:12.9	interest rates on a short term. It's just screwing them over with the fees. So that's a little bit about
0:17.9	what we do. But I think that SBA loans would be 20 times the volume
0:21.6	of what they are now, even though they are a $30 billion a year loan program right now with the
0:27.0	lenders that do participate. I think it would be in the hundreds of billions of dollars
0:29.6	if people understood where to go. So that's a lot about what I do is I help break myths for people.
0:34.7	I help educate people about what the best options are for them.
0:37.5	Welcome to the Home Service Expert, where each week, Tommy chats with world-class entrepreneurs
0:43.1	and experts in various fields, like marketing, sales, hiring, and leadership, to find out what's
0:49.2	really behind their success in business. Now, your host, the Home Service Millionaire, Tommy Mello.
0:59.2	Welcome back, the Home Service expert.
1:01.1	My name is Tommy Mello, and today I have a guest coming to us from Virginia,
1:05.8	but he actually lives in San Juan, Puerto Rico.
1:09.7	Joshua Kim, how are you today?
1:11.8	Doing all right.
1:12.9	Josh is an expert in entrepreneurship, management, leadership, finance.
1:17.3	He's the owner and CEO founder of 7A Accelerator.
1:21.8	He also is the managing director at Mount Britain Capital Advisors.
1:25.9	He's done a lot of cool things.
1:33.2	Stealth Mode, fintech startup, Kalea Healthcare, Shore, GmbH.
	...

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