SBA 504 Loan

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-Use Properties
SBA 504 Loan Amount: Up to $10,000,000
SBA 504 Loan Term: Up to 25 Years
Amortization: Up to 25 Years
Loan to Value: Up to 90% of FIRREA Appraised Value. Minimum 1.30x DSCR on in-place cash flow
DSCR : Minimum 1.30x DSCR on in-place cash flow
Processing Fee & Expense Deposit: $1,500 Processing Fee. $15,000 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
Recourse: Full-Recourse
Assumability: Yes in case of building sale for $1000 assumption fee
Prepayment: 5-Year Prepayment Penalties