Industries

Medical doctors, pharmacies, dentists, veterinarians

Loan Purpose

Purchase office condo; finish construction, machinery and equipment, fixtures, furniture, inventory and other business assets. Working capital

Loan amount

SBA 7(a) $250,000 to $5,000,000

Time to close

Closing within 45-60 days of signed commitment letter

Loan to value

Up to 130%

Interest rate

Competitive variable rate based on a spread over the Wall Street Journal prime rate

Term

Up to 25 years based on the loan purpose. No balloons or calls –fully amortizing over the life of the loan

Prepayment penalty

Prepayment penalties will apply

Collateral

First lien on assets being financed

Recourse

Personal guarantees for all individuals owning 20% or more. Corporate guarantees of affiliated companies may be required

Debit Service requirements

Projected debt service coverage ratio of 1.25 times