SBA
You can use an SBA loan to refinance business debt resulting in a longer term and lower payments!!! Interest rates are at an all time low, and the program fee is currently waived !!!
The SBA recently made refinancing of commercial debt much easier by lifting many of the old restrictions on taking out existing debt. SBA loans of up to $2,000,000 can be used to refinance equipment (10 years), leases (10 years), real estate (25 years), inventory (up to 10 years) and even working capital (up to 10 years).
Whether you want to free up more cash to fuel growth or just need a little more breathing room, an SBA refinancing may be your answer. We can refinance the following types of business loans:
·Long term debt structured with a demand note or balloon payment;
·Debt with an interest rate that exceeds the SBA maximum interest rate for the processing method being used
·Credit card debt - if it can be shown the card was for business use only
·Debt that is over-collateralized based on SBA's collateral requirements
·Revolving lines of credit (short term or long term) where the original lender is unwilling to renew the line or the applicant is restructuring its financing in order to obtain a lower interest rate or longer term;
·Debt with maturity that was not appropriate for the purpose of the financing (e.g., a 3 year term loan to finance a piece of equipment with a useful life of 15 years); and
Call us for more info at 612-578-9898
Apartment Mortgage Loan Financing
Here in the Minneapolis and St Paul Metro area community and national banks love apartment buildings and they consider them a great asset. What you have been hearing on the news, "With the current credit crisis there is no money to lend" is not true. For those experienced investors there is an abundance of money to lend to qualified, experienced real estate investors.
If you need:
- Refinance loans on currently owned apartment buildings
- Construction financing to either build new or rehab existing apartment buildings
- Purchase mortgage to buy a cash flowing apartment building
In the Minneapolis or St Paul, MN metro area there are plenty of banks to work with.
We can help you or your client analyze the debt service coverage (DSCR) or cash flow of an existing or new apartment complex. Our team can also help direct you to the national or community lender that can fund this deal and make it reality.
If you need additional information about apartment consulting or loan financing feel free to contact our team!
Tim Jochim
612-702-1111
The Commercial Finance Store
Located in St Paul, MN
Serving the Minneapolis and St Paul, MN Metro area!
Dax Dickson
2446 University Ave W
Suite 108
St Paul, MN 55114
612-578-9898
Our team can offer extremely competitive loans for Class A, B, C and D property types in the Minneapolis, St Paul and surrounding metro area.
These property types include:
- Multifamily of 5 units or more
- Mixed-use commercial
- Mobile Home Parks
Multi-tenant underwriting boils down to three main things:
-Debt Service Coverage Ratio, Global ratios and Loan to Value. Underwriters confirm that both the property and service the debt at a 1.25 Debt Service Coverage Ratio and the guarantor can personally service the debt as well. Most underwriters feel most comfortable with loan not exceeding 75% loan to value but with exceptions may go as high as 85%. If is a fact that highly leveraged properties are more likely to default.
For more information about applying for a commercial loan please contact:
Tim Jochim
612-702-1111
Hello ALL ActiveRainers!
I wanted to take a few minutes and reach out to all of you. Lately, there has been a lot of talk about how tough business has been. It is kind of a downer to hear all that stuff!
My Team focuses 100% on commercial client and commercial mortgage loans and we are killing it!
This have gotten so busy that Tim Jochim is now dealing with all new commercial mortgage loan clients. Tim can be reached at 612-702-1111.
If any of you out there are having some good or great success I WANT TO HEAR about it. The positive stories keep my attitude up a lot better than some of the stuff I have been hearing!
Thanks!
Learn more about commercial mortgage loan programs available in the Minneapolis & St Paul, MN Metro area.
We can help with commercial investors buying residential rehab properties but can not help with any residential mortgage loan programs.
Our Team has been working with the banks in the Twin City, MN metro area to bring you some of the best rehab mortgage solution to date.
Here are the basic guidelines for our Commercial Loan Program for Residential Rehab and Construction Mortgage Financing:
• - Minimum 660 FICO score
•- If rental, Minimum 1.25 DSCR
•- If using DTI, Maximum 45%
•· Can blend both with global calculation
•- If DTI and DSCR do not work we can use marketing plan and pledge payment reserves to bank
•- 6 Months reserves
•- Purchase plus Construction = X
•· Loan amount = 80% of X
These loans are more common sense underwriting. It is important to get accurate rent rolls, PFS, operating statements and proof of ALL assets. Once we have that we need to sit down with the borrower and work out the solution.
These loans are available for everything from Spec Homes to put on the market in the spring to the Boarded and Abandoned bank owned properties!
If you haven't been able to find the loan you need you have talked to our team.
Contact Us TODAY!
Located in Minneapolis, MN
Originating Commercial Mortgage Loans all over Minnesota
Contact Tim for more information. 612-702-1111
Learn more about commercial mortgage loan programs available in the Minneapolis & St Paul, MN Metro area that can help those looking to secure purchase rehab mortgage loans for properties that do not qualify for programs like private/hard money loans or the FHA 203K rehab mortgage loan.
We help commercial real estate investors analyze properties to prepare for purchase or finance. There are to many real estate opportunities for one investor to look at them all.
ActiveRain Corp. is not responsible for the accuracy of the site's content (which is written by members of the ActiveRain Real Estate Network) and does not endorse the views of the real estate agents, mortgage brokers, and others listed here.
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