The SBA loan sector is active again after grinding to a near halt during the financial turmoil of the last few years. Although the number of deals is still below pre-downturn levels, the size of an average deal is bigger. Most deals we’ve seen in the last few months have been running at 6%, but we’ve seen terms for new deals running at 5.75%.
Here are some details of some recent SBA 7a and SLA deals:
Independent Restaurant startup with working capital in the suburbs of Chicago.
- SBA 7a loan program
- 70% loan to cost
- $288,000 loan amount
- 10 year term
- 10 year amortization
- Variable rate
- 6.00% Interest rate
- No call / No balloon
- No prepayment penalty
- Close inside of 30 days
Refinance of owner user Commercial Real Estate, debt consolidation and working capital. All closing costs are rolled into the loan.
- SBA 7a loan program
- 100+% loan to value
- $597,000 loan amount
- 12 year term
- 12 year amortization
- No prepayment penalty
- Variable rate
- 6.00% Interest rate
- No call / No balloon
- All closing costs financed
Start-up of a Midwest based Fitness Franchise. The loan comes with leasehold improvement money, working capital and was able to roll in all closing costs.
- SBA SLA loan Program
- 75% Loan to Project Cost
- $130,500 loan amount
- 10 Year term
- 10 Year amortization
- Variable rate
- 6.00% Interest rate
- No call / No balloon
- All closing costs financed
- No Prepayment penalty
- No SBA fees
- Close inside 30 days