This SBA loans is best used by a borrower looking to purchase or construct commercial real estate that will be at least 51% owner occupied. The remaining portion may be leased out to tenants and generate income for the property owner. This SBA loan program utilizes a first mortgage and a second mortgage that is guaranteed by the Small Business Administration (SBA). Both loans are processed simultaneously to decrease the time needed to fund the transaction.
SBA LOAN PROGRAM GUIDLINES:
- 90% LTV for multi use, and up to 85% for special use.
- Loan amounts as little as $250,000 and as high as $7mm.
- Fixed rate commercial loans up to 25 years for conventional loans, and 20 years for SBA loans.
- Debt Service Coverage Ratio (DSCR) as low as 1.00 to 1.00.
- Multiple prepayment options to choose from.
SBA LOAN PROGRAM BENEFITS:
- Low down payment.
- Easy underwriting guidelines.
- Fixed payment options.
- Easy to qualify terms.
- Flexible prepayment options.