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Humble, TX
Recently closed loan in Humble Texas. Transaction was a purchase. We got it done at 90% financing with a 5 year fixed rate. Loan program is an SBA 7a loan.
Last Updated:December 1, 2008
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Buford, GA
Closed commercial construction loan in Buford, GA. Medical office.
Last Updated:June 3, 2009
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More Information
Small office property in suburbs of San Diego. Refinance.
Last Updated:August 3, 2009
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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 very 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 SBA 7a Info: http://www.commercial-second-mortgage.com
Commercial Finance Advisors, Inc closes commercial mortgages nationwide and works on loans from $400,000 to $5,000,000
Last Updated:October 1, 2009
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