SBA Loan

Created for the borrower wanting to purchase or construct commercial real estate that will be owner occupied. Subject property must be a minimum of 51% owner occupied to be eligible. This program utilizes a conventional 1st mortgage and a 2nd mortgage that is sponsored by the Small Business Administration. Both loans are parallel processed to decrease the time needed to fund the transaction.

Program Characteristics:

• LTV up to 90% for multi use, up to 85% for special use
• Loan amounts from $250,000 to $7mm for multi use, up to $6mm for special use
• Fixed rate options up to 25 years for conventional loan, 20 years for SBA loan
• Debt Service Coverage Ratio (DSCR) down to 1.00
• Multiple prepayment options

Benefits:

• Low down payment
• Flexible underwriting guidelines
• Fixed payments
• Easy to qualify DSCR
• Flexible prepayment options on conventional loan