Episode 80

5/12/22

Topic: How to Grow Your Pest Business with SBA Financing

Guest: Dave Otteson, Vice President of Small Business Lending, Live Oak Bank

Click here to listen.


In this episode we discuss:

  • Dave's background and how he came to specialize in SBA lending and the pest control industry

  • How most SBA programs offer a 75 percent government guarantee

  • SBA loans vs. conventional loans and what SBA loans can be used for

  • Why it can be tough for pest control operators to get financing

  • When you would not want to do an SBA loan

  • The mechanics of SBA loans and who's really lending you the money

  • How SBA-backed lines of credit work

  • What rates and terms you can expect to pay

  • Who is a good candidate for an SBA-backed loan in the pest industry

  • The documents and information you need to get approved and complete the process

Resources mentioned:

Notable: "This works perfectly for business expansion ... because there's no or very little collateral to attach." —Dan Gordon

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