Interim SBA Financing

Eligible Locations: The U.S. excluding: Alaska, Hawaii
Property Types: SBA 504 eligible property types
Loan Amount: Same as CDC 2nd loan
Loan Term: 120-180 days
Loan to Value: Up to 90% LTV on commercial real estate acquisitions and refinances.
Typical Situations: Acquisition financing, light renovation and construction
Property Types: Hospitality, Single and Special Purpose
Processing Fee & Expense Deposit: Expense deposit required to cover 3rd party reports and underwriting fees
Reserves: TI&LC / CapEx Reserves.
Sponsor/Borrower: Personal credit score of 675 or better.
Borrowing Entity: Operating entity occupying the property or special purpose entity.
Recourse: Full recourse.
Assumability: Not assumable.