SBA 504 Loan Parameters
|Eligible Locations:||MSA’s within the U.S. and its territories exhibiting strong economic and property-type specific fundamentals|
|Eligible Use:||Acquisition and Refinance of Owner-Occupied, Hospitality, Multi-Use and Special Purpose Properties|
|Loan Amount:||Up to $14,000,000|
|Loan Term:||Up to 25 Years|
|Amortization:||Up to 25 Years|
|Loan to Value:||Up to 90% of FIRREA Appraised Value. Minimum 1.20x DSCR on in-place cash flow|
|DSCR :||Minimum 1.20x DSCR on in-place cash flow|
|Processing Fee & Expense Deposit:||$3,000 Processing Fee. $10,000 Expense Deposit|
|Reserves:||Tax and Insurance|
|Sponsor (s):||Creditworthy individual(s) acceptable to Lender with sufficient liquidity and net worth|
|Borrowing Entity:||Operating entity that will occupy the commercial real estate|
|Assumability:||Yes in case of building sale for $1000 assumption fee|
|Prepayment:||5-Year Prepayment Penalties|
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