|5 Patti Page Way, Centerville, MA 02632||directions|
|Mon - Fri 8:30 AM - 5:00 PM||about|
|508 790 2921||contact|
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|
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|
Other terms and Conditions will apply. Prices, terms and conditions subject to change without notice on all loan products.
Last updated: June 22, 2012