| |
We can
Offer the following
7A SBA Loan Program up to
$2,000,000
| Underwriting Guidelines: |
51% owner occupied |
Subject to credit approval Ability to pay monthly payment
|
Some restrictions may apply
Reserve liquidity |
1. |
7A SBA Business Loan without Property |
|
| |
Car Wash, Gas Station, etc. |
Down Payment : 20% |
| |
Term : 10 years only |
Prime Rate + margin |
2. |
7A SBA Business Loan including Land and Building
|
| |
Car Wash, Gas Station, etc. |
Down Payment : 20% |
| |
Term : 20 years |
Prime Rate + margin |
3. |
Owner Occupied Building (7A)
|
|
| |
Warehouse, self-storage, industrial, office, medical, etc. |
Down Payment : 10% |
| |
Term : 25 years |
Prime Rate + margin |
4. |
Owner Occupied Building/Special Purpose Property (7A)
|
| |
Hotel, motel, theaters, sport arenas, golf courses, historic properties |
Down Payment : 15% |
| |
Term : 25 years |
Prime Rate + margin |
Debt Coverage Ratio: Maximum 1.10
typically
- Pre-payment Penalty: First year 5% - Second year 3% -
Third year 1%
- Interest Rate: Is based on Wall Street Journal prime rate
plus margin.
-
Recourse: Personal guarantee by all the principals
- Fee: Standard one
time SBA guarantee fee
- Term : Up to 25
years, fully amortized loan.
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