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sba 7a loans: Small Business Financing in 2010, Part 2 of 10 - 01/20/10 05:19 PM
Negative Trends
As mentioned, in the previous blog, entitled small business real estate financingIm taking a stab at addressing the major issues facing small business owners with getting loans closed in this market.  And am discussing potential solutions to each of the major issues in this 10 part series.   
The topic here is "Negative Trends" which is now probably the main issue that kills all small business loans including unsecured, sba business loans and other commercial real estate loans. 
What underwriters mean when they talk about negative trends is declining gross sales.  They normally look at the last three years, off … (0 comments)

sba 7a loans: Closed SBA 7a Loan, In Atlanta, Georgia - 06/08/09 05:13 PM
 
Commercial Finance Advisors is pleased to announce the recent funding of an SBA 7a loan in Atlanta, Georgia in the suburban community of Buford.  The project was a combination of a commercial refinance, construction, equipment and working capital for the borrower, who is a doctor.
"There was a couple of interesting components of the loan.  One was that the borrower had already closed on the request with another bank, which after funding part of the loan backed out...   It was a construction loan.  This put the borrower in a terrible position and to say that he was frustrated and very … (2 comments)

sba 7a loans: SBA 7a Loan, SBA 7a loans - 06/02/09 07:45 AM
The SBA 7a loan has been getting a lot of press lately, as it is one of the most viable commercial real estate loans out there, and many business owners are trying to get a better understanding of the loan program.  Below are the typical questions that business owners have regarding the SBA 7a loan.    
Aren't SBA lenders the same?  Should I just work with a local bank?
Though the SBA has set guidelines, banks all have their own lending criteria, and what is considered a doable deal from one bank will not be to the next.  Many borrowers … (1 comments)

sba 7a loans: SBA 7 (a) Loans - They're Expensive - 05/13/09 09:24 AM
Due to the current credit crisis many borrower are considering SBA 7(a) loans for the first time and are surprised on how the third party fees add up.  And this is without the notorious SBA guarantee fees, as they have been temporally waived via President Obama's Stimulus Package.  The SBA guarantee fee is normally 2.75% of 75% of the loan amount...  This is temporally gone. 
Borrowers that compare a conventional commercial mortgage to the SBA 7(a) loan will find many additional fees that they may have never heard of.  For example, packaging fees, though not required are typically charged by all … (5 comments)

sba 7a loans: "Subprime" Commercial Mortgages - 07/10/08 08:21 AM
 There's three commercial mortgage programs designed for borrowers with issues on their commercial loans.  These programs include: 1. Commercial stated income loans 2. Hard money commercial loans 3. SBA 7a loans.SBA 7a LoansThe sba 7a loan program is really the best option out there for business owners (investors are not eligable)that have "hair" on their commercial mortgage.  One of the best features is the ability to go up to 90% loan to value on refinances (again, 90%) and or 90% on purchases.  In addition, though your local bank won't admit it, there are no credit score restrictions from the SBAs perspective.  … (0 comments)

sba 7a loans: Hotels and SBA Options - 06/06/08 09:31 PM
Hotels and SBA Options
Found a hotel that you plan on purchasing and are now examining options for your hotel loan?  You will quickly discover that unless you're planning on putting 35% down or more (and in the form of cash, not equity from your house for example), that the hotel has a strong flag and great historical financials your only option will be either the SBA 504 or the SBA 7a programs.
As an example on how conservative things are getting, we are currently working with a borrower that is intending to purchase a Comfort Suite.  This individual has a … (3 comments)

 
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Jeff Rauth

Birmingham, MI

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Commercial Finance Advisors, Inc

Office Phone: (248) 885-8797

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