Results 1 to 4 of 4
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01-12-2024, 10:54 AM #1
- Join Date
- May 2023
- Posts
- 47
Financing For Land Acquistion
I have a client in Ohio who wants to purchase 6 acres of land to park her fleet of trucks on. What lender will complete this transaction? Can this be done with SBA?
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01-12-2024, 11:02 AM #2
50% Loan to value for purchasing land for parking trucks no doc. Did one in Florida. Depends on Zoning....is it rural? or surburban?
The SBA allow a 504 loan to finance land that is vacant if the land is used to store equipment used by the borrower in their business? Vacant land is eligible per SOP 5 50 10 (J)
I have two SBA 504 lenders I could run it by.Last edited by Olderguy; 01-12-2024 at 11:05 AM.
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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01-12-2024, 11:46 AM #3
- Join Date
- Oct 2022
- Posts
- 295
What do their financials show? This looks like an acquisition of Land and a Ground up Construction project?
Elon Henek
HCI - Glen Cove, NY
Main: 1-516-676-1854
Cell: 1-516-236-4086
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01-12-2024, 11:50 AM #4Steve 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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