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Commercial Finance Advisors, Inc. Announces the Closing of an SBA 504 Loan in Indianapolis - Commercial Finance Advisors, Inc. announces the recent closing of an SBA 504 loan in Indianapolis, Indiana for a 45,000 square foot medical office building
Commercial Finance Advisors, Inc. Announces the Closing of an SBA 504 Loan in Indianapolis

 

NewswireToday - /newswire/ - Birmingham, MI, United States, 2011/01/14 - Commercial Finance Advisors, Inc. announces the recent closing of an SBA 504 loan in Indianapolis, Indiana for a 45,000 square foot medical office building.

   
 
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Commercial Finance Advisors, Inc is pleased to announce the recent closing of an SBA 504 loan in Indianapolis, Indiana. This was a purchase transaction at $1,550,000 for a 45,000 square foot, 2 story class A office building. 90% loan to value financing was structured, with a 5 year reset loan. Meaning the rate re-fixes itself every 5 years until the loan is paid off – no balloon. Total time from application to funding was 44 days.

“This was an interesting transaction as the borrower was very pushed for time. He had submitted it to three major banks that all dragged their feet, while his due diligence period ran out. By the time we received the loan request he was very much under the gun and the seller threatened multiple time to not extend the purchase agreement. We were able to get traction on the loan request within days and issued a term sheet within a week.” Comments Jeff Rauth the originator on the loan.

“It was a great team effort as there were more parties involved in the transaction than normal, due to a few issues such as a late discovered deed restriction. Everyone step up from underwriting, title, the CDC, appraisal, environmental, the SBA itself on their approval, etc and got their respective job done on time. And the transaction closed right between the holidays on the 30th of December.

SBA 504 loans are perhaps the best form of financing currently in the business for small business owners that want to purchase commercial real estate to “house” their business, rather than pay rent. There are a couple of reasons for this. 90% financing and low long term fixed rates top the list. The other major benefit is that they are viable and still reliably closing. During the credit crisis it cannot be overstated that many loan programs and bank quoted transaction but could not complete them. With the backing of the United States government, the SBA 504 loans are reliable and close.
Commercial Finance Advisors, Inc. (cfa-commercial.com) does SBA loans and commercial mortgages nationwide from $400,000 to $12,000,000.

 
 
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Written by / Agency / Source: Commercial Finance Advisors, Inc.

 
 

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Commercial Finance Advisors, Inc. Announces the Closing of an SBA 504 Loan in Indianapolis

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Publisher Contact: Jeff Rauth - CFA-Commercial.com 
248-885-8797 jrauth[.]cfa-commercial.com
 
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