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 |
| 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: | $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 |
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