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10-31-2023, 01:17 PM #1
- Join Date
- Jan 2022
- Posts
- 42
Expanded SBA 7a lending criteria / 95% LTV
We have just recently expanded our SBA 7a commercial RE lending criteria to get some more deals!
We will now go up to 95% LTV on transactions under $2M. We need a prior year's debt service coverage of only 1.15X and this is limited to multi and limited-use properties (industrial, retail, restaurants, auto-related, etc)
On projects where there wasn't cash flow in the prior tax year but we do have at least 1.15 debt service coverage in the interim financials, we can go up to $2.5M and 90% LTV.
On projects from $2.5M to $4M, we will look at a case-by-case basis but generally, we will want at least a .8X debt service coverage in the prior year and a 1.15X debt service coverage in interims.
For Special Use Properties (gas station, car wash, hotel)
- Loans under $2,500,000 qualify to be approved based on a projection if the prior tax
year tax return DCR was at least 1.0x and the interim period was 1.25x
- Max LTV is 83%Dan WallaceSVPEnterprise BankNational, direct SBA lenderFast and creative financing solutions970-390-6650dwallace@enterprisebank.com
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10-31-2023, 01:25 PM #2
DSCR is debt service coverage ratio....checking the ability to make the new loan payments at 1.0 debt service coverage or more.
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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