[Fundyman]

I have a client with a commercial property worth $850K.
1st mortgage is 300K.
2nd lien is SBA but no amount; lien position only secures in case of default.
3rd lien----------> You, if you're crazy enough to do these types of deals!

I have no idea what type of financing fits this type of scenario or who takes that risk (if anyone!). However, I wouldn't put it past the industry that there be such a lender that does this on a regular or occasional basis.

Even if you are a broker who is familiar with this type of scenario and can get it done, please PM me asap or email me: solidmerchantsolutions@yahoo.com

[Miller192]

I'm assuming the borrower has an SBA loan that was not used for the real estate correct? In other words, what was the SBA loan used for?

[nmanapat]

I have a client with a commercial property worth $850K.
1st mortgage is 300K.
2nd lien is SBA but no amount; lien position only secures in case of default.
3rd lien----------> You, if you're crazy enough to do these types of deals!

I have no idea what type of financing fits this type of scenario or who takes that risk (if anyone!). However, I wouldn't put it past the industry that there be such a lender that does this on a regular or occasional basis.

Even if you are a broker who is familiar with this type of scenario and can get it done, please PM me asap or email me: solidmerchantsolutions@yahoo.com

How much is the SBA Loan?

[Fundyman]

I'm assuming the borrower has an SBA loan that was not used for the real estate correct? In other words, what was the SBA loan used for?

Correct. I was used for their business. They do construction.

[Miller192]

How much is he looking for?

It's likely his business loan is a variable rate on a 10 year AM. It might be beneficial for him to refinance that along with the mortgage and get him additional capital. Doing it now will make the most sense before rates climb higher over the summer.

[Fundyman]

Thanks, Miller. I'll look for additional info on what type of loan he's currently in.

[LCNYS]

I can get you third position if these's enough equity left.