sba 504: The New SBA 504 Refinancing Program May Be Just What You Need - 04/20/11 10:03 AM
← 23 Ventures Spot Factoring Refinance Checklist: Was the debt(s) to be refinanced substantially (85% or more) used for eligible 504 purposes? Has the borrower been current (no payment deferrals or past dues of more than 30 days) on the note(s) for the past 12 months? Has the debt(s) been outstanding for at least 2 years? Has the subject business been in operation for at least 2 years? With the increase in fees on a 7(a) loan, your best choice for refinancing existing debt is the SBA 504 Loan Program. The refinancing policy is now in place and 23 Ventures LLC. is … (2 comments)

sba 504: $850,000 Mixed Use Purchase-SBA 504 Loan - 03/28/11 08:32 AM
Where: San Francisco, CA
 
Type: This was the purchase of a building and land by the Restaurant that occupied it. Typically a simple 504 transaction however this deal had some wrinkles-what deal doesn’t today? The first was that the father was selling it to the children which some lenders will not consider. In addition, the restaurant had not been opened two years and it was not an SBA approved franchise restaurant. Still, it had good numbers, was very successful, and the operators had good credit and enough assets for the money down. In the end, we closed it in 60 … (2 comments)

sba 504: More Great News! SBA (504) Ref Loan - 03/10/11 09:15 AM
Under the recent Small Business Jobs Act $15 billion is now available for debt refinance under the 504 program.  It took a while for the SBA to implement it but the regs are now out.  This is huge for those doing 504 loans because it allows refinancing up to 90%!  To be eligible, the property must be owner occupied, (at least 51%), and have a non-SBA loan coming due before 1/1/2013.   For properties that have lost value over the last few years, this loan can be a HUGE!
Many property owners are getting calls from their current bank lenders saying, due to … (0 comments)

sba 504: Details on the new SBA 504 refinance program - 03/05/11 04:07 PM
Some of the program parameters are as follows:
The small business must have a mortgage loan that comes due for renewal on or before December 31, 2012 The first mortgage loan and the 504 loan combined cannot be more than 90% of the fair market value of the collateral The new refinanced loan must be structured as follows: bank – not less than 50%, CDC – not more than 40%, borrower equity – not less than 10% Eligible 504 project costs must comprise at least 85% of the original loan amount The loan must be current for the past 12 months and … (1 comments)

sba 504: What Commercial loans we are focusing on in 2011-Part 1 of 5 - 01/20/11 10:22 AM

In-house lending product. :
We closed 2 of these in December and I personally have 4 in January alone set to close. I love these deals because we have more control.   NICHES THIS PRODUCT FILLS THAT BODE HUGE IN THE MARKETPLACE:
-special purpose properties-investor or owner occupied.  We can do the odd properties that no one wants to do.  Pretty much any property other than hotels, gas stations, raw land, apartments, churches or extreme special use properties like a Golf Course,etc.  For owner occupied deals, especially SBA 504, we can CONSIDER CONSTRUCTION UP TO $6 MILLION.  -Conventional or 504 Loans-this … (0 comments)