There are a few specialty products, such as SBA loans, that enable occupying business to arrange for competitive financing. In certain circumstances, the acquisition and construction financing can be provided up to 90% of the total project value. Therefore, these types of jumbo loans require a specific amount of attention and focus. At Blackstone, we work directly with the client and the bank to ensure a smooth closing. These special loans fall into two categories:
Conventional Owner-Occupied Loans
- Rates are calculated as a spread over the corresponding US Treasury bill or prime. Adjustable rate products are also available.
- Terms are based on cash flow.
- Maximum loan-to-value is 80%.
- “No-document” programs are available.
- Both self-amortizing or balloon loans are acceptable.
- Banking relationships typically enhance the overall scenario.
SBA Loans
1) SBA 7 (a) Program Loans:
- These can be used for virtually any business purpose, and do not necessarily have to involve real estate.
- · Such loans range from $150,000 to jumbo loans of $2 million.
- Minimum of 51% owner occupancy is needed.
- Maximum loan-to-value is 90%.
- Amortization of up to 25 years.
2) SBA 504 Program Loans:
- Loans of this type can be secondary loans worth up to 90% of the combined loan-to-value for a maximum of $4.3 million.
- Amortization can be as long as 30 years.
The commercial real estate lenders at Blackstone Mortgage Corp. are waiting for your call. They look forward to discussing your commercial project and providing various commercial loan options. From commercial funding to jumbo home mortgages, Blackstone will find the right loan for you. To contact a Blackstone representative in your area, please call us at 1-866-879-1100 or apply now for one of our commercial loan programs.
Please apply now for one of our Owner-Occupied/ SBA Loans, or call us at 1-866-879-1100 to speak with one of our financial counselors.
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