Fixed Rate SBA 7a Loan 

Unlike virtually all other SBA 7a Loan programs the rate is FIXED for 5 years (amortized over 25 years), as opposed to almost all other bank programs where the rate adjust once per quarter (floating against the Prime Rate). 

The benefits of the SBA 7a loan program for business owners are numerous.  90% financing on purchases AND 85% financing on refinances are a few of them.  Another is that this loan has some of the most flexible underwriting guidelines available.  For example, Debt Coverage Ratio's of 1:1 are allowed WITH the use of future business projections.  Most commercial mortgages are underwritten to the historical financial's, ie the last 3 years of tax returns.  However, with this program the borrower can use future financial projections to improve their books.  Outside income can also be used to furthur increase net income.  Credit scores as low as 620 are acceptable as well.  Another benefit is the ability to tie in working capital into the loan,among others. 

In addition, the SBA Guarantee Fee is normally paid for by the funding bank for strong loans.  In this case the borrowers has ZERO bank and or SBA fees to do the loan.      

(Click here if more interested in SBA 504 program)

Rate is Prime + 1% – 2%.  Up to 90% loan to value on purchases AND up to 90% loan to value on refinances (working line and build out can be rolled in as well). 

Again, refinances are acceptable through the SBA 7a program, despite what you might have heard. 

SBA 7a Refinances Acceptable:

• The proposed refinance has to either reduce the borrowers monthly payment by 20% or more or
• Borrowers existing loan has to be either floating or will balloon (no timing restrictions).
• Cash out proceeds have to be business related.
•  Up to 90% loan to value, cash out or rate and term...

SBA 7a Loan, General

• No small town population restrictions (small town commercial loan) 
• 51% or more owner occupied
• Minimum 620 credit score
• 1.1 minimum Debt Coverage Ratio - Can use fore-casted numbers (projections) into Debt Coverage Ratio
• 2 year minimum business existence
• Real estate only, no lease hold or business value considered

Take advantage now of this unique SBA 7a loan program designed for business owners only.  Get started now by filling out the preapproval form.  And or call 248 885-8797 to discuss your SBA 7a loan.

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Commercial Finance Advisors, Inc.
(248) 885-8797 Phone
(866) 337-3141 Fax
http://www.cfa-commercial.com/
261 E Maple Rd
Suite 13
Birmingham, Michigan 48009

 

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