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The was a purchase transaction, which was structured under the SBA 7a program. It included the purchase of the real estate, inventory and renovations.
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This was a purchase transaction that included commercial real estate, renovations, inventory and working capital. Loan product was the classic SBA 7a loan with a total project cost of $460,000.
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Rising Sun, MD
Commercial Finance Advisors, Inc is pleased to announce the recent closing of an SBA 7a loan in Rising Sun, Maryland which is north of Baltimore. The transaction was a refinance, loan amount was $983,000. “The borrower was eager to take advantage of the Stimulus Package and avoid the SBA 7a fees which would have cost him approximately $30,000 had he waited to do the loan.” Comments Jeff Rauth, the originator on the transaction.
“Another interesting component was that the borrower purchased the property only one year ago… For $1,100,000. There is no other program besides the SBA 7a loan which allows for that high of loan to value, which was 89%. Typical bank financing is capped at 60 - 65% loan to value on refinances. So it would have been impossible to get it done any other way beside the SBA 7a route.”
“With that being said, the borrower also enjoyed a great loan with a low rate at 6%, a 3 year fixed rate and a 25 year amortization schedule with NO balloons. This is as good as it gets in this market. It’s a great program. The borrower was pleased.”
SBA business loans provides the highest level of financing in the market today. This is such an important point as property values continue to decline nationwide. “Companies should consider the SBA 7a loan simple for this reason alone, as it’s a good way to protect yourself from values on appraisal reports coming in lower than expected and killing your deal. We hear about this happen all the time by borrowers that continue to try to get there loan done conventional.
Other information on commercial property loans here.
Commercial Finance Advisors, Inc closes commercial mortgages nationwide from $400,000 to $5,000,000.
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This was a refinance of a small office property in suburbs of San Diego, CA. The borrower refinanced his existing mortgage of appr $430,000 and pulled out $120,000 of working capital to finance a call center for his business, which a residental real estate brokerage firm.
More information on our commercial mortgages.
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Oakbrook, IL
CFA, Inc is proud to announce the closing a a 19 unit multifamily property in Oakbrook, IL. Loan structure was that of a conventional apartment loan, ie meaning it was not a Fannie mae product but funded by a portfolio bank. Straight rate and term refinance.
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Buford, GA
We are pleased to announce the closing of a commercial construction loan in Buford, GA. The borrower is a general practice Doctor. This was an expansion loan, that enabled the borrower to open his second location. Loan Amount was just under a million and the loan product was an SBA 7a loan.
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Humble, TX
Recently closed loan in Humble Texas. Transaction was a purchase with real estate and buiness god will incuded. We got it done at 90% financing (off the total project costs) with a 5 year fixed rate. Loan program was a SBA 7a loan.
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Another closed refinance of a small industrial property in Taos, New Mexico. The structure was that of a debt consolidation type loan, with a working capital component. Loan program was a SBA 7a.
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Chicago, IL
A relatively massive debt consolidation type loan that increased the borrowers total cash flow by over 60%. We were able to roll in lease payments, business credit cards and lines and there existing mortgage. Commercial cash out refinance of an owner occupied retail/office facility. Loan amount was just over $400,000.
Get more information on our commercial mortgages.
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Clinton Twp, MI
Recent closing of a daycare center loan in Clinton Township, Michigan. This commercial real estate loan saved the borrower $1,400 per month on a cash flow basis compared to their previous traditional bank loan as well as gave them working capital over $300,000. Total loan amount was $1,720,000.
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Evergreen, CO
Deal type was an office condo loan,owner occupied and was structure as a cash out refinance in Evergreen, CO. Use was medical office. Loan amount $378,000.
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