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Stated Commercial Loans are loans that do not show income on the tax returns and show their income by stating the income via P&L. It is a fast-growing and rapidly expanding part of the commercial mortgage marketplace with new sources coming to market every few months it seems. We intimately understand these loans and have become adept at closing them.
Last week we closed one for a client who could not get bank financing because of an issue with the SBA that prohibited the loan closing (and she needed 80% LTV Financing). The loan came to me from a bank that could not get it done but loved the customer. We got it closed last Monday. HERE ARE SOME OF THE PROPERTY TYPES OF THIS TYPE OF LOAN:
- Light Industrial
- Self Storage
- Mobile Home Park
- Daycare Center
- Restaurant and Bar (Expansion Only no startup)
- And much more…..
And with 5 year fixed rates that can run from 6-8%, with longer 30-year amortizations and even a 30 year fixed loan, the pricing is not that bad. Most SBA 7A loans are prime+2.5% which is 7.25% and that is adjustable, these are fixed rates! A 5 year fixed at 7.5% on a 30-year amortization is equivalent in payment to a 20-year bank loan of 5.7%! So the pricing really is not prohibitive, especially for the fact that the buyers will NOT QUALIFY for bank financing. It really is a good loan product. AND CLOSINGS TYPICALLY TAKE ONLY 35 DAYS! So it is quicker too.
At Commercial Capital, we have our own private money, and we underwrite for tons of quality low-interest-rate sources from conduit to agency to SBA and conventional. But we also have a full line of alternative lending loans that can work for both owner-occupied businesses and investor properties. If you want a loan closed, we are the ONE STOP SHOP. Give me a call today at 512-354-5949 today or get started by filling out this form!
Commercial Capital, LTD
karenschimpf at gmail.com
P.S. We now have a blanket loan product for single-family investors that requires a minimum of 2 units and a loan amount of $250,000.00 dollars. Most blanket loans have a minimum loan amount requirement of $500,000.00 dollars and 5 units, so this is an amazing product for single-family investors!
Give me a CALL TODAY at 512-354-4949 or get started by completing this form