business loan: Apartment Mortgage Loan Financing
- 10/04/09 01:21 PM
Here in the Minneapolis and St Paul Metro area community and national banks love apartment buildings and they consider them a great asset. What you have been hearing on the news, "With the current credit crisis there is no money to lend" is not true. For those experienced investors there is an abundance of money to lend to qualified, experienced real estate investors. If you need: - Refinance loans on currently owned apartment buildings - Construction financing to either build new or rehab existing apartment buildings - Purchase mortgage to buy a cash flowing apartment building In the Minneapolis or St … (1 comments)
business loan: Business Loans
- 09/27/09 05:22 AM
SBA You can use an SBA loan to refinance business debt resulting in a longer term and lower payments!!! Interest rates are at an all time low, and the program fee is currently waived !!! The SBA recently made refinancing of commercial debt much easier by lifting many of the old restrictions on taking out existing debt. SBA loans of up to $2,000,000 can be used to refinance equipment (10 years), leases (10 years), real estate (25 years), inventory (up to 10 years) and even working capital (up to 10 years). Whether you want to free up more cash to fuel growth or just … (7 comments)
These loans are for owner occupied (51% of space or more) commercial real estate. Features of the program are: The maximum loan amount is $4,000,000. The loan to value is 90%, reducing to 85% if the property is single-purpose. The rate is fixed, with an amortization period of 25 years. Rates presently range from 5.75% to 6.25%. SBA guarantee fees have been waived. Prepayment penalties are negotiable. If you need help securing financing for your business, contact us. We … (1 comments)
SBA 7A loans are variable rate with a maximum allowable rate of P+2.75%. They are used primarily for financing company operations, equipment, inventory, and accounts receivable, but may be used to finance real estate. Features of the program are: The maximum amount has been increased from $2,000,000 to $4,000,000 The gross receipts qualifying level of $7,000,000 has been removed. Companies must have book net worth of $8,500,000 or less, and after tax income of $3,000,000 or less. The 2%-2.5% guarantee fees have been waived. The loan to value is 90% of discounted collateral, with upward exceptions sometimes … (0 comments)
Here in the Minneapolis and St Paul Metro area community and national banks love apartment buildings and they consider them a great asset. What you have been hearing on the news, "With the current credit crisis there is no money to lend" is not true. For those experienced investors there is an abundance of money to lend to qualified, experienced real estate investors.;)
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