[miglynn]

I have a client seeking a non-SBA 10-year term loan to replace an existing SBA variable rate term loan. They are looking for $1.5-$2M

Please email support@cfobydesign.com

[Olderguy]

SBA 504 fixed 25 years, adjusts 5 years, blended rate 7.25% but must be on commercial property that has 51% owner occupied.

If they have property I can do 10 year Interest Only at 9.99% if fico in the 700+ 75% LTV

[FSB]

Question-

How old is business?,

What is collateral (business or personal) to secure the loan?

Howie Dane
Funding Sources for Business
president@fundingsourcesforbusiness.com

[Ehenek]

Can not just replace an SBA loan because he is unhappy with the rate. You need a better reason for a reason to refinance the SBA7(a) Loan. UNLESS, He has a really strong DSCR to show an additional term loan in place.

[mistamca]

I have a client seeking a non-SBA 10-year term loan to replace an existing SBA variable rate term loan. They are looking for $1.5-$2M

Please email support@cfobydesign.com

Unless they have gained significant assets since closing, then this is a pipe dream.
They also paid a % fee as part of closing a SBA.

I'm sure that there are people out there who will structure this as a "cheaper" option ( I don't even know who) but by the end, the client will lose.