Results 1 to 5 of 5
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09-19-2023, 11:52 AM #1
- Join Date
- May 2015
- Posts
- 18
$2M Non SBA 10yr Term Loan
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
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09-19-2023, 12:28 PM #2
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% LTVLast edited by Olderguy; 09-19-2023 at 12:30 PM.
Steve Benjamin
Professional Business Loans
522 Contessa
Irvine, CA 92620
steveprobiz@gmail.com
https://probizloans.net/
Broker, Underwriter, general business loan expert
949.228.1050
@ 24 hour funding working capital loans
@ Term loans from 3 years to 10 years at 9.5% and up
@ Equipment financing up to 7 years
@ Property loans - Hard Money and traditional - Primary, Investment, commercial, land, fix and flip, construction.
@ SBA loans - 7A and 504.
@ Private money equity and debt for major investments
@ Personal Loans up to gross income from personal tax return.
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09-19-2023, 02:11 PM #3
- Join Date
- Oct 2012
- Posts
- 142
Question-
How old is business?,
What is collateral (business or personal) to secure the loan?
Howie Dane
Funding Sources for Business
president@fundingsourcesforbusiness.comHowie Dane
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09-19-2023, 09:46 PM #4
- Join Date
- Oct 2022
- Posts
- 295
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.
Elon Henek
HCI - Glen Cove, NY
Main: 1-516-676-1854
Cell: 1-516-236-4086
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09-20-2023, 09:12 AM #5
- Join Date
- Feb 2019
- Posts
- 209
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.
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