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 |