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​​​​​​​​​​​​​​​​​​​​​​​​​For small businesses looking to acquire​ fixed assets.

Whether it is real estate, capital equipment or any other fixed assets, small businesses have the advantage of long term financing with a fixed interest rate.


Eligibility:

  • Businesses that are:

    • Owner-operated.

    • Individual or Doing Business As (DBA).

    • For-profit.

    • Organized as a sole proprietorship, corporation or professional partnership.

    • Unable to secure other credit under reasonable terms.

  • For Commercial Real Estate, the project must be at least 51% owner-occupied.

  • Business’ net income after tax must be of less than $2.5M per year for the past three years.

  • Businesses with tangible net worth of less than $7.5 million.


Features:

  • SBA participates with a debenture of up to $5,500,000.

  • In manufacturing companies.

  • SBA participates through a Certified Development Company1.

  • Term Loan.

Maximum Loan Terms:

  • Commercial Real Estate up to 20 years.

  • Commercial Equipment up to 10 years.

Interest Rate:

  • Fixed interest rate on SBA portion.

Borrower’s Equity Injection:

  • At least 10% of the total project cost.

  • Higher injection may be required for special purpose properties and new businesses.

Collateral Requirement:

  • Business Assets and/or Real Estate, depending on loan purpose.

Typical Use of Proceeds:

  • Acquisition, expansion or renovation of owner-occupied Commercial Real Estate (land or building).

  • New Construction.

  • Purchase of Heavy Machinery and/or Equipment.

  • Refinancing an existing obligation (some restrictions may apply).

Benefits:

  • Same application process as a conventional loan.

  • Longer maturity terms than conventional loans.

  • SBA fees can be financed into the loan.​​

For more information, go to: ​​http://www.sba.gov/content/cdc504-loa​n-program

Call Us 787.729.8258

​​​All loans are subject to credit approval.​​​

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​​All loans are subject to credit approval.​​​​

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