SBA 504 & 7a Owner Occupied Commercial

Loan Mortgage Lending Program

Minimum $2,000,000

Long term first mortgage loans on various stabilized properties with the following rates and terms:

Eligible Transactions:To finance the acquisition or refinance of existing stabilized income-producing commercial real estate properties of various types – 50%+ owner occupied only. Cash-out possible.
Eligible Locations:Continental US
Eligible Properties:All industries occupying stabilized income producing commercial properties including office, retail, warehouse, industrial, hotels, gas stations, commercial condos, multifamily, mixed use, automotive, self-storage, funeral home, assisted living.  [Exclude raw land, single family, churches.]
Transaction Size:$2 million to $5 million (7a) and $1 million to $10 million (504)
LTV-LTC:Lesser of up to 90% of current “as is” appraised market value, or purchase price.
Security:First mortgage lien on the subject property(s), assignment of leases and rents, security agreement, UCC on other collateral, personal guarantees
Ownership:Individual(s), or single asset, special purpose entity (Corp, GP, LP, LLC, etc.)
Application Fee:Fee of $2,500 is due with the signed Letter of Intent
Commitment Deposit:Greater of $10,000 or ½ of 1% of loan amount payable upon acceptance of Commitment; excess applies towards Origination Fee at closing.
Origination Fee:0-1% of loan amount payable at closing – rebates possible
RatesPrime + 2.75% adjustable, (7a) or 4+% to 7+% (504) depending on fixed rate period, loan term and PPP selected
Loan Index:Prime and/or LIBOR,
Loan Term:Quarterly adjustable (7a) or 3-5-10-25 years fixed (7a or 504), with amortization up to 20 or 25 years
Recourse/CreditFull personal recourse for all principals. Minimum credit score 600
Second Mortgage:Max 85% CLTV permitted with Lender’s approval and consolidated DSC
Prepayment:Declining or static penalties
Third Party Reports:MAI Appraisal, Phase I environmental, ordered by Lender at expense of Borrower.
Underwriting:Historic federal tax returns are a major factor to evaluate cash-flow
Closing Time:45 days from accepted Letter of Intent

At no charge, a detailed loan offer will be forwarded upon completion of initial analysis..

© Sterling Commercial Capital, January 2013. Subject to Change Without Notice