| Use |
General Purpose |
Real Estate & Equipment |
Real Estate, Equipment, Working Capital and Construction |
General Purpose |
| Loan Size |
$350,000 to $5,000,000 |
$2,000,000 to over $15,000,000 |
$500,000 to $10,000,000 |
Unlimited |
| Interest Rate |
- Variable or fixed rate
- Fully amortized through the term of the loan
- Interest rates are based on the current market conditions with various indexes up to prime and individual loan review
|
- Variable or fixed rate
- Fully amortized through the term of the loan
- Interest rates on 504 loans are set at an increment above the current market rate for five-year and ten-year U.S. Treasury issues
|
- Variable or fixed rate
- Fully amortized through the term of the loan
- Interest rates are based on the current market conditions with various indexes up to prime and individual loan review
|
Variable or fixed rate |
| Terms Available & Amortization Periods |
- 25 years: real estate
- 10 years: equipment, business acquisition
- 5 to 7 years: working capital
- All loans are fully amortized
- No balloon payments
|
- 20 years fully amortized real estate loan
- 10 years fully amortized equipment loan
- No balloon payments
|
- 30 years: real estate
- 15 years: equipment or useful life
- 7 years: working capital
- All loans are fully amortized
- No balloon payments
|
- Typically 20 year amortization for real estate with 5 year balloon
- 10 year balloon
- 5 Years: equipment
- Typically 1 year line of credit working capital
|
| Loan Purpose |
- Expand, acquire or start a business
- Purchase or construct real estate
- Refinance existing business debt
- Buy equipment
- Provide working capital
- Finance building improvements
- Purchase inventory
|
- Purchase existing building
- Land acquisition
- Ground up construction
- Expansion of existing building
- Finance building improvements
- Purchase equipment
|
- Expand, acquire or start a business
- Purchase or construct real estate
- Refinance existing business debt
- Buy equipment
- Provide working capital
- Finance building improvements
- Purchase inventory
- Non-owner Occupied Investment Properties
|
- Expand or acquire a business
- Purchase or construct real estate
- Refinance existing business debt
- Buy equipment
- Provide working capital
- Construct leasehold improvements
- Purchase inventory
|
| Loan Structure |
- Up to 90% bank loan
- 10% borrower down payment
|
- 50% bank loan
- Up to 40% CDC loan
- 10% borrower down payment
|
- Up to 100% bank loan
- 10% TBSE Requires Existing Business
- 20% TBSE Start-Up
|
- Up to 80% bank loan
- 20% borrower down Payment
- Plus closing costs
|
| Loan Fees |
- 1.75% - 2.75% of loan depending on size
- Fees rolled into loan
|
- Weighted average fees for both loans are 2%
- Fees rolled into loan
|
|
- Up to 1% origination fee
- Fees paid at closing
|
| |
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