SBA 7a Loans:

Borrower Benefits

• Long repayment terms, reducing monthly payments
• Frees up cash flow to expand your business
• Low down payment of as little as 10% on multi-purpose real estate acquisitions
• and as little as 15% on single-purpose real estate acquisitions
• Financing available for most industry types including: hotel/motels, gasstation/convenience stores, restaurants and day cares

Loan Amounts:

Loans available from $150,000, to presently $2M, but soon to be $5M

Use of Proceeds:

• Owner Occupied Real estate − purchase, construction, renovation or refinance of commercial real estate.
• Majority of space must be owner-occupied. Loans up to $2.0 million
• Business acquisition − business, franchise or professional practice. Loans up to $2.0 million
• Machinery & equipment − purchase or refinance. Loans up to $1.5 million
• Start-up – franchised businesses such as restaurants and hotel/motel. Loans up to $2.0 million
  

Uses:

• Real estate − up to 90% financing, up to 25 years,
• Prepayment penalty for initial 3 years, none after the end of year 3
• Business acquisition − up to 80% financing, up to 10 years, No prepayment penalty
• Refinance – up to 100% financing, up to 25 years, Prepayment applicable for initial 3years on terms greater than 15 years

Terms:

• Rates are based on a spread over the Prime Lending Rate. Rates vary depending on the specific strengths of the transaction
• SBA Guarantee Fee is paid directly to U.S. Small Business Administration. Amount varies based on loan/guarantee amount. Other customary fees also apply
• All 7a loans are fully amortized and are assumable

Because conventional loans are so tight, if not non-existant, SBA 7a loans are a God send for owner Occupiers.

Act now as this Government program will be quickly over booked.

Arthur,
860-946-6637

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