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Real Estate Acquisition

For years, our slogan was, "Tired of Leasing?" While we have updated since then, we still believe in the importance of owning your own building. To that end, we offer low down payment, low equity, and fixed rate SBA loans specifically used for fixed asset projects such as purchasing land and improvements, including existing buildings, grading, street improvements, utilities, parking lots and landscaping; construction of new facilities, or modernizing, renovating or converting existing facilities. These funds can also be used to purchase long-term machinery and equipment.

IDEAL PROJECT Real estate or equipment projects over $500,000
PROJECT SIZE Maximum participation: $1,500,000.
Special Category Business Expansion Projects (rural based, women-owned, veteran- or minority-owned businesses; projects located in an enterprise zone; businesses that export): $2,000,000.
Manufacturing Firms Maximum Participation: $4,000,000.
QUALIFICATIONS             For profit established business with a tangible net worth of $7 million or less, and $2.5 million or less after tax profits.
TERMS 10 or 20 years
INTEREST RATES Low-interest, long-term, fixed-rate financing
REPAYMENT Level monthly payments of principal and interest
COLLATERAL Real estate or equipment required
SERVICING FEES Up to 3% of the debenture that can be financed with the loan. A servicing fee is collected monthly.
STRUCTURE Available with low equity requirements for up to 90% of the project In conjunction with primary lender. Bank provides first mortgage loan for 50% of project; SBA provides next 40%; borrower provides remaining 10% equity.
TYPE OF LOAN Low-cost, fixed-rate SBA 504 term loans
USES Purchase of: 
  • Buildings
  • Machinery & Equipment
  • New Construction
  • Renovation & leasehold improvements

Other terms and Conditions will apply. Prices, terms and conditions subject to change without notice on all loan products.

 

Last updated: June 22, 2012

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