How does it work?

1. ​Pre-qualify in as little as 5 minutes without impacting your credit score. Simply provide basic information and we’ll automatically tell you if you prequalify for an SBA commercial.

2. Provide financial information about your business and its owners.

3. You will receive a non-binding letter of intent (LOI) outlining details of the SBA commercial real estate loan so you can negotiate terms with the property seller.

4. Conduct appraisal of the property you are interested in.

5. Get Funded. Upload requested documents to complete your application. We'll work with you through the loan closing process. Funds can be wired for closing in as fast as 30 days after credit approval.

 

Restrictions:

• Developers or landlords that are not actively occupying the property

• Investment properties (for example, the majority of the property will be leased or it is a real estate flip project)

• Bankruptcies or foreclosures in the last 3 years

• Prior default on government backed loans

• Outstanding tax liens

• Construction (for example, purchasing an empty lot and building a new structure)

​

​How much down payment or equity is required?

For a purchase, 10% - 20% down is required. For refinancing, a minimum of 10% - 20% equity.

​

Do I need to provide collateral?

Yes collateral is required. The collateral is the property itself.​

​

Are there fees?

There is a packaging fee of no more than 1%, a guarantee fee paid to the SBA (between 2.25% - 2.83%), and bank closing cost add another $5,000 (it includes standard bank fees & appraisal).

Fees can be deducted from loan proceeds or can be rolled into the loan amount.

​

​