SBA versus TTB

[Bartletts Distillery]

OK, here's an interesting one.  We've found a location, and have just signed a contract to start our feasibility period.  Now I find out from my lender that in order to get an SBA loan, they require that "all licenses be in place prior to close".  As you all know, you can't get a TTB DSP license without a location.  This seems like the SBA (Small Business Admin) and TTB have conflicting requirements.

Have any of you run into issues getting a Small Business Administration loan to purchase a property?

Cheers,

VB

[whiskeytango]

Usually the loan you get is taken out by a separate bank (you post 10% the bank posts 90%). Then once the build out is complete another bank that works with the CDC and the SBA comes in and pays down your loan to your original bank taking 50% of the total loan amount.  So yes the SBA isn't going to give you money and take on the loan until there is something their to loan for.  Or at least thats how it worked with us.