미주부동산 커뮤니티

SBA 프로그램의 update

SBA 프로그램의 update 참고하시기 바랍니다.

7(a)와 504 프로그램의 가장 최근 가이드라인입니다.

아시는 바와같이 각 lender들마다 가이드라인의 차이점이 있으나, 보편화되어있는

information 입니다.

SBA 7(a)

 

Program Highlights

Up to 90% project financing (to qualified applicants only. Long term and conditions may vary based upon lending programs, subsidiary and applicant qualification)

Full amortized loans.

 

Use of Funds

Business acquisitions, expansions and start-ups

Purchase, construction or renovation of commercial real estate for owner-users.

Purchase of equipment

Working capital and inventory

Franchise fees

Leasehold financing

Refinancing of existing business debt.

Partnership buyout

 

Loan Amount

Up to $2 million (오바마 정부의 정책에따라 $5 million으로 올라가는것이 국회에 상정되어 있읍니다)

 

Terms

Up to 25 years, depending on use of funds and repayment ability

No prepayment penalties (except on loans with terms in excess of 15 years)

 

Fees

SBA fee

Lenders’ application fee (may vary)

Construction loans include separate fees and are based on project size.

 

SBA 7(a) Commercial Real Estate Loans

Minimum / Maximum Loan Amount:  $100,000 to $2,000,000

Maximum Loan to Value: No maximum loan to value (LTV) restriction except for restaurants and hospitality.

Equity Injection Requirement: 10% minimum cash injection / down payment from Borrower will always be required (10% 또는 그 이상의 다운페이멘트는 세금보고서에 따라서 결정됨)

Borrower’s injection may come from gift funds from close family member with evidence of giftor’s source of funds.

Loan Term: Up to 25 years fully amortized.

Debt Service Coverage Requirement: 

1.       Based on last two years Federal Income Tax Returns & current interim financial statements

2.       Stable or improving trends

3.       More flexibility underwriting available to growth companies looking to expand by increasing size of existing locations, purchasing larger facility, or adding a new location.

 

 

SBA 504

 

Program Benefit

Up to 90% project financing for commercial real estate – Low down payment allows Borrower to have greater cash reserves.

Long amortization – Allows Borrower great flexibility throughout the life of the loan.

 

Uses

Land and building – including new purchase, new construction or renovation of existing buildings.

Machinery and equipment with a minimum useful life of 10 years.

 

Typical structure (2 loans)

1st lender loan up to $5.2 million.

Certified Development Company (SBA 504 lender)/ SBA loan up to $2 million.

Borrowers cash injection typically 10% ~ 20% of eligible project costs.

 

1st Lender Loan

Up to 30 year amortization depending on property age and condition

Fixed and variable rate options.

 

SBA 504 (Certified Development Company)/ SBA loan

Typically 20 year amortization

Below market fixed interest rate.

Prepayment penalty during the first 10 years.

 

Qualifying requirements

Job creation / retention

Owner-user to occupy 51% of existing building or 67% of new construction.

Company must have a net worth less than $6 million and net income of less than $2 million.

 

Fees

1% of the 1st lender loan amount or more (depending on project size)

0.65% of the SBA/CDC loan amount. This fee is charged by the CDC and is included within the loan.

 

 

Conventional Program

 

Owner occupied property: 70% ~ 80% Loan to Value

Investment property: 60% ~ 80% Loan to Value

Land Acquisition is only available with construction.