Are you seeking SBA loans for business acquisitions? Yes Financial Service operates out of Boca Raton, Florida. The company specializes in assisting individuals and business owners navigate the SBA loan process. Yes Financial Service focuses all of its attention on this endeavor to ensure the best possible results for its clients without distraction.
Acting as more than a simple SBA loan advisor, Yes Financial Service provides personalized service for each client by assessing, advising, creating a plan, applying, and executing the task needed to obtain an SBA loan. Our Yes Financial Service review takes a hard look at the company, what it does, how it operates, and if it might be the right solution for your SBA business acquisition or other loan needs.
Pros
Specializes in SBA 7(a) business loans
SBA loans for business acquisitions available
BOCA Chamber of Commerce member
Works with business owners to expedite the SBA application process
Cons
Loans other than SBA options are unavailable
Not a direct lending institution
Yes Financial Service Review: Features and Benefits
Yes Financial Service advises and assists its clients through the SBA loan application and necessary follow-up process. Particularly focused on the SBA 7(a) loan program, the company works directly with lenders to ensure the best match for the borrower. The SBA loan program and Yes Financial Service include the following features and benefits.
- Maximum SBA 7(a) loan amounts of $5 million
- Loan terms from 10 to 25 years
- Average processing time 30-45 days
- SBA loan process education and assistance
- Assessment, planning, and application
- Post-application assistance
- Personalized custom services
- Loans available for numerous purposes
- Works directly with lenders
- SBA loan experts
- Protection from predatory lending vulnerabilities
Yes Financial Service Review: Editorial Rating
Trusted Company Reviews Rating Score for Yes Financial Service: 9.9
We awarded Yes Financial Service extremely high marks in our review for a number of reasons. While the company only provides services related to the SBA loan program, we found this fact to be a benefit rather than a liability.
Acquiring an SBA loan can be a daunting challenge, especially for the uninitiated. By adhering to its business model and providing only SBA-related services, Yes Financial Service can help its customers avoid the potential traps associated with some non-traditional lending organizations.
Yes Financial Service distinguishes itself from online and non-traditional lenders by only offering SBA loan advisement and action. It is not a lending institution or a marketplace for business loans. The company works one-on-one with businesses and individuals seeking legitimate SBA-backed funding.
| Fixed and variable APR | 10.25% – 11.25%* |
| Loan Terms | 10 – 25 years |
| Loan Amounts | Up to $5 million |
About Yes Financial Service
Yes Financial Service provides assistance and elbow grease to help its clients achieve success. The company takes pride in its humble beginnings and its self-proclaimed duty to help protect unwary borrowers from high-cost and risky non-traditional lending practices. We spoke with Edward Fay, Co-Founder of Yes Financial Service, for his take.
“Yes Financial Service started its mission of helping small businesses with access to capital in 2015 when its founders Edward Fay and Gerald Brauser opened an office in Brauser’s truck stop. They saw the need for trucking companies, who were often on the road, to be able to get financing for big repairs or to acquire equipment. Yes Financial Service eventually grew to other industries as they understood a common dilemma— business owner’s were often busy and the first place they would look for capital was their local bank which were typically the big banks with tight credit boxes. They identified the SBA program as an excellent tool for companies in need of growth capital. Yes Financial Service Team’s goal is to prequalify businesses for their unique needs, save them from predatory lenders, and strategically help companies grow with aquisitions.”
What Does Yes Financial Service Do?
Acquiring an existing business requires a massive effort. Yes Financial Services’ priority is to act as an assistant, voice of reason, and guide when navigating the financing aspects of the deal. In that role, the company offers the following services.
- Consultation: An initial consultation helps determine the best starting point for the business or individual. Major hurdles and options can be discussed.
- Eligibility Assessment: Yes, Financial Service examines the company or individual’s financial and other vital criteria and assesses its needs. It will also discuss goals and strategies. Additionally, the company will ensure the business being acquired meets eligibility requirements as well.
- Application Preparation: Yes Financial Service will assist and advise when preparing and organizing the necessary documentation required for the loan application. This can include business plans, financial statements, and other documentation.
- Lender Matching: The company will determine the best lending partner to meet the needs and discuss options if necessary. Additionally, Yes Financial Service offers assistance and advice regarding additional inquiries from the lender.
- Follow-up: After the application is submitted, Yes Financial Service works with the lender to ensure the process is moving forward and to help address any additional requests or issues that might arise.
- Education and Post-Loan Support: Yes, Financial Service can offer education and support regarding different aspects of SBA loans, repayment terms, effective use of funds, rules and regulations, etc.
- Streamlining and Simplification: Yes Financial Service’s expertise can eliminate unnecessary steps and paperwork, resulting in process simplification and the fastest possible turnaround.
Qualifying for SBA Loans for Business Acquisition
To qualify for SBA loans for business acquisition, an applicant must meet several criteria that are generally focused on the nature of the business, the creditworthiness of the business and its owners, and the business’s ability to repay the loan. Here are the minimum qualifications for consideration.
- US Citizen OR Green Card Holder
- 640+ Credit Score
- No Bankruptcies or Foreclosures in the Past 3 Years
- No Charge Offs or Defaults on Federal Loan Programs
- No Tax Liens
SBA Loan Uses
Proceeds from an SBA 7(a) loan are available for numerous uses. Yes Financial Services can help distinguish the classification.
- Acquiring, refinancing, or improving real estate, including buildings
- Financing ownership changes
- Working capital
- Purchasing and installing equipment or machinery
- Purchasing other needs, including furniture and fixtures
- Refinancing
- Combinations of approved uses
Is Yes Financial Service Legit?
Yes Financial Service is a member of the Boca Raton Chamber of Commerce. Its physical address is 101 Plaza Real South, Ste 204, Boca Raton, FL 33432.
Frequently Asked Questions
What Are SBA Loans for Business Acquisitions?
How Do You Get a Loan to Buy a Business?
Source
Image Source: yesfinancialservices.com
Deane Biermeier is a prominent figure in all things finance and home improvement, renowned for his detailed written content, analyses, and expert advice. Over the past several years, he's contributed to industry-leading publications such as Forbes Home, Angi/HomeAdvisor, US News and World Report, Newsweek Vault, and Family Handyman. Deane's expertise is further established and recognized through his review board roles and by providing expert insights at The Spruce and Family Handyman. His recent affiliation with TrustedCompanyReviews.com in 2023 further solidifies his position as a respected authority in his field.
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Deane Biermeier
Last Updated May 31, 2024
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