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Home > SBA 7a Loan, SBA Commercial Loans
SBA 7a Loans, SBA Commercial Loans
THE SBA GUARANTEE FEE IS CURRENTLY WAIVED. DO NOT WAIT. THE STIMULUS PROGRAM IS EXPECTED TO RUN OUT OF MONEY IN LATE FEBRUARY, 2010.
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We are still closing SBA commercial loans. This segment of the business is still viable. If you are considering refinancing your building or purchasing a new one, the
SBA 7a loan is one of the most reliable programs in the industry and we urge you to fill out the preapproval form now (Note our minimum SBA 7a loan is $400,000). The benefits of the SBA commercial loans 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. Most commercial mortgages, in contrast, require a miniumum debt coverage ratio's of a 1.35. So with an SBA 7a loan, your business can have lower cash flow and still get your loan closed. Credit scores as low as 650 are acceptable as well.
The use of the SBA 7a loan proceeds are another major benefit. Borrowers can use the loan to rehab or do ground up construction, refinance existing debt (which often results in drastically improved cash flow)buy equipment and roll in working capital. All within the same loan...
Rate is normally Prime + 2.25% – 2.75%. And again with the highest level of financing in the business at 90% loan to value on purchases AND up to 90% loan to value on refinances. Again, refinances are acceptable through the SBA 7a program, despite what you might have heard.
SBA 7a Loans:
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CURRENTLY NO SBA GUARANTEE FEE
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Can use program to refinance existing debt
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Rates as low as 5.25%
- 25 year amortization schedule
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$400,000 - $2,000,000 loan amounts
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Up to 90% loan to value, cash out or rate and term refinance...
SBA 7a Loan, Other
Take advantage now of this unique SBA 7a loan program designed for business owners. Get preapproved on your SBA commercial loan now by filling out the mini commercial loan application (takes less than 5 minutes to fill out). Or call to discuss your SBA 7a loan.
248 885-8797
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