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
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:
PCO Bookkeepers article: SBA Expansion Loans for Emerging Pest Control Operators
Dave Otteson: 303-909-9981 or dave.otteson@liveoak.bank
Notable: "This works perfectly for business expansion ... because there's no or very little collateral to attach." —Dan Gordon
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