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Maximum Loan Amount: Acceptable Locations: Acceptable PropertyType: Unacceptable Property: Maximum LTV: Amortization: Minimum Equity Injection: Minimum DCR: Minimum Personal Credit: Management Experience: Other Income: $4,000,000 Owner Occupied: Urban / Suburban markets in all states Investor: Urban / Suburban markets in all states except-AZ,AL,AR,CA,FL,GA,IN,LA,OH,MI,MS & NV Generic: Office, Office/Warehouse, Medical/Dental Officer, Light Mfg / Industrial, Retail, Mixed Use Semi Generic: New Auto Dealers, Light Automotive, Tire & Brake Centers, Grocery Stores, Funeral Homes Special-Use: Bowling Centers, Restaurants, Oil/Lube, Assisted Living, School/Day Care, Golf Courses, Self-Storagep g , , , g, y , , g Dry Cleaners Gas Station / C-store, Car Wash, Auto Dealerships, Night Clubs, Athletic/Fitness Centers, Special-use start ups 65% for Generic Multi-use 60% for Semi-Generic Multi-use 55% for Special Purpose and unanchored retail 25 years for Owner Occupied 20 years for Investor (25 years possible on a case by case exception) 10-25% for Owner Occupied, 20% for Investor 1.20X - Owner Occupiedp 1.40X - Investor 650 - No previous Bankruptcy Owner Occupied: Prior Ownership & Management preferred Investor: Previous Ownership Required Required, amount depends on loan type and LTV
SBA 7(a)
Multi Purpose - 10% S 20% Up to SBA limit. Currently $5,000,000. Up to 25 years, fully amortizing. 1.25x Minimum Debt Coverage Ratio ("DCR") for the most recent FYE and Interim period. The DCR will be based on the underwritten EBITDA of the Small Business Concern. Special Purpose - 20% All loans are Full Recourse and require the personal guarantee of any and all individuals or entities holding 20% ownership interest or more. ACH may be required. Available for Multi Purpose Projects. Please call for Program Information. Up to 3.75% - SBA Guarantee fees currently waived through December 31, 2010
The terms contained herein are not all-inclusive and are subject to change at anytime without notice.