SBA 7(a) 100% Financing Commercial Business Loan
Business owner for three years- stable to upward cash revenue trends
Currently renting and looking to buy a lot - build a building or buy a building to rehab or as - is
Business must occupy a 51% footprint of the building being purchased
$ 351K to $ 5M Loan amount
Amortization up to 25 year term
Interest rate: Wall Street Prime + margin (2.75%) , SBA Guaranteed, P & I payment, payment adjusts annually
No balloons, call provisions or financial covenants
Prepayment penalty is 3 years (5%, 3%, 1%)
Nationwide footprint
45-60 day closings with responsive borrower. 60-90 day with delays
Credit score of 680 and above
No bankruptcy or foreclosure in past 5 years
Borrower is looking to buy a building with 100% financing to expand their business? Roll closing costs and equipment into the loan.
Property Types: Industrial, manufacturing, hair/nail salon, medical/professional, gas stations/convenience stores, franchise restaurants and more!
Business must be organized as a for profit company
Additional SBA Programs:
90% Business acquisition and partner buyout. Strong relevant management experience. Business acquisition-10-year term
85% Franchise Finance-Acquisition, refinance, debt consolidation, business expansion and start-up for selected concepts