SBA 7a Loan 

Unlike any other SBA 7a program the rate is FIXED for 5 years (amortized over 25 years), as opposed to virtually all other 7a loans that adjust once per quarter (against the Prime Rate).  In addition, the bank on this program can absorb the loan Guarantee Fee of 2.75%, by raising the rate by.5%, so this amount does not have to A. come out of the loan proceeds and B. increase your total loan amount.     

(Click here if more interested in SBA 504 program) 

Rate is Prime + 1% – 2%.  Loan origination fee is 1%.  Most building types considered, including, office, office condo, medical office, retail, industrial, mixed use, automotive, restaurant, daycare (Although no hotels, motels, self storage, nursing homes, or funeral homes).   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. The key distinction is the the borrower must improve their financial postion by doing the loan.

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 Mortgage, General

• No small town population restrictions (small town commercial loan) 
• 51% or more owner occupied
• Minimum 640 credit score
• 1.1 minimum Debt Coverage Ratio - Can use forecasted 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 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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