$2,700,000 SBA 7(a) 3 Assisted Living Facility Blanket Refinance w/ $322,000 of Working Capital
SECC provided a $2,700,000 SBA 7(a) refinance of $2,377,582 of first mortgages secured by three assisted living facilities located in Santa Barbara, CA. SECC delivered $322,000 of working capital, a 5.50% quarterly adjustable interest rate amortized over 25 years, and funded this loan in 60 days!
We May Not Have the Lowest Rates or Pay the Biggest Rebates, But We Will Consider Funding any SBA 7(a) Loan Turned Down by Another SBA Lender
Past Bankruptcies OK
Past Foreclosures OK
Rural Properties OK
Credit Down to 500 OK
Blanket Loans OK
Large Working Capital Needs OK
Specialized Properties OK
Higher Risk Businesses OK
Land Used for Business Purposes OK
Business Loans Without Real Estate Collateral OK
Time Sensitive SBA Loans OK
Make More by Closing More SBA Loans & Closing Them Faster! Broker Rebates Paid up to 1.0%, Closings in 45 - 60 Days We Handle All the Paperwork for You!
SECC's SBA Parameters Loans secured by businesses and business occupied real estate (>50%) only
Loans from $250,000 to $5,000,000+
No Restricted Industries (except those the SBA deems ineligible)
No Property Type Restrictions (even land as collateral is acceptable)
No Credit Score Minimum (>580 preferred)
Past BKs, Foreclosures and Back Income Taxes on Payment Plans Ok
No Collateral Requirement, Business Only Loans Ok
No Geographic Restrictions and No Population Minimums
SECC's SBA Terms
Quarterly Adjustable Rates Starting at Prime + 2.00 (5.50%)
25 Year Fixed Rates Priced at 7.75%
25 Year Amortizations and 5%, 3%, 1% PPP on Real Estate Loans
10 Year Amortizations and No PPP on Business Only Loans
LTV's up to 90% on Generic and Semi-Generic Property Types
LTV's up to 85% on Special Purpose Properties Types (Hotels, etc.)
Submission Requirements for a Letter of Interest (LOI)*
The above guidelines are for informational purposes only, are estimates subject to change or withdrawal at any time and do not constitute a commitment on behalf of SECC or its assigns to provide the financing being described. Please apply and/or contact your SECC representative for more details.
South End Capital Corporation "SECC", founded in February of 2009, is a nationwide, non-conforming lender (CA Finance Lenders License # 603 L334) providing collateralized and uncollateralized loans to business owners and real estate investors directly, and in participation with third-party lenders.
SECC offers easy online applications, excellent service, prompt responses, generous compensation to approved partners, and custom tailored loans—we evaluate actual need, not just the application.