SBA 504 LOANSLoans are for commercial owner occupied real estate acquisitions, refinance of existing 504 1st loans. SBA 504 loan up to 20 year fully amortization and up to 5 year fixed rate loans available with up to 10 year and up to 30 year amortization. Property must be at least 51% owner occupied for profit, have a business net worth of below $15 million and a 2 year average net profit under $5,000,000.00 after taxes, full documentation, business must have 1 year of field returns, borrower must have 1 year of direct or related business experience for SBA financing eligibility.
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RATESMinimum DSCR 1.01:1 - Multi-Use, 1.25:1 - Special - Use, PAR + 2.75%, 650 credit score. SBA Interim fixed rate Loans Interest only, no prepayment penalty, 3 - 6 months loan terms, loan fees 1.00 - 2.00% up to $5,500,000.00
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PERCENTAGEThe borrower will need to put down 10% along with the Lender 50% and SBA/CDC 40%, Loan amounts and down payments vary with project type and credit/collateral quality. SBA 504 2nd mortgage loan maximums are $5,000,000.00 for regular loans, $5,500,000.00 for public loans and manufactures.
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PROJECTIONSProjections require a minimum 15% injection an additional 5% injection is required for start ups. 90% LTV 1st
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USE OF PROCEEDS Multi Use:
Warehouse, Office, Industrial, Medical, Flex, Auto Body, Office Condo, Retail, Restaurant Special Use Properties: Hospitality, Mini Storage, Cold Storage, B&B, Funeral Home, Bowling Alley, Urgent Care, Auto Repair, |