SBA Loan 25-Year Adjustable

Property Type: Restaurant / Bar Loan Type: Long-Term Loan / SBA Purpose: Purchase Property Use: Owner-User Term: 25-Year Adjustable Rate Type: Adjustable Doc Type: Full Doc – Tax Returns Required Amortization: 25-Year Loan Maturity: 25-Years Maximum LTV: 90.000% Min Credit Score: 650 Recourse: Recourse & Non-Recourse

Maximum LTC:  | Maximum ARV:

OVERVIEW SBA Loans are structured and financed through the SBA 7a program. The loans are designed for commercial and hotel properties where the business owner occupies 51% or more of the property for business operations. Owner-users can finance up to 90% of the property purchase price or market value when refinancing. SBA loans are 25-year term adjustable loans and can be used for long-term permanent financing, construction, and rehab projects. Rates are 2% to 4% above the Federal Prime Rate. Fixed rates are available on a case-by-case basis.

Ownership: Properties must be held in an LLC, partnership, trust, or other corporate structure. In most cases, properties cannot be held in an individual’s name, solely or jointly. Unless non-recourse, borrowers are personally responsible for property and mortgage performance. Underwriting: Asset-based and business underwriting with emphysis on property value, property and business net operating income, and potential NOI. Personal and business tax returns are required. Year-to-date and previous year property and business operating statements, rent roll, and schedule of real estate owned required. Reserves: 6-9 months operating reserves required in addition to the down payment, if a purchase. Loan Origination Fee: 1% Loan Processing Fee: Loans $250k to $500k = $975 | $500k+ $2,500 Underwriting & Appraisal Estimate:  0.25% to 0.5% of loan amount

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