Interim SBA Financing
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. |