SBA Recovery Lending Extended Through April 30

SBA Recovery Lending Extended Through April 30

Administrator Mills urges longer-term extension for successful programs


March 29, 2010 WASHINGTON – President Barack Obama signed on Friday legislation extending through April the U.S. Small Business Administration’s ability to provide enhancements in its two largest small business loan programs. The enhancements, first made available under the American Recovery and Reinvestment Act, include a higher guarantee on some SBA-backed loans and fee relief.


The SBA estimates the $40 million extension will support about $1.4 billion in small business lending.


“Thousands of small businesses across the country have taken advantage of these Recovery loan enhancements to get the capital they need during these tough economic times,” said SBA Administrator Karen Mills. “The increased guarantee and reduced fees on SBA loans helped put more than $23 billion into the hands of small business owners and brought more than 1,100 lenders back to SBA loan programs. As a result, average weekly loan approvals by SBA have climbed by 86 percent compared to the weekly average before passage of the Recovery Act. These programs have been successful in helping jump-start our economy, which is why we will continue to work with Congress on a longer extension of the increased guarantee and reduced fees.


“Additionally, we continue to encourage the Congress to act on other proposals the President has put forward, including higher SBA loan limits and refinancing for commercial property mortgages to help thousands of small businesses avoid potential foreclosure. Small businesses need the changes the President has called for to ensure that they have the tools to drive economic growth and create jobs in communities all across the country.” Click Here for Full Article

Commercial Capital Limited

SBA Financing Program
We here at Commercial Capital Limited are experts in Small Business Administration 504 loans and are able to assist all our clients in getting SBA loans closed faster, easier and at lower costs. Don’t hesitate to call or email Commercial Capital Limitied to see how we might be able to assist you and your business in receiving some of the additional Stimulus Bill money that has been made available thru the Small Business Administration.

Give
us a call at: 863-298-8900 or

813-833-3132

Or click below to get a fast response to your loan scenario!: 

Quick Pre Qual Form

 

Financial News Update! Multi-Family Financing

This Financial News Update is brought to you by Commerciallendingpros.com

Your #1 Source for Commercial & Business Financing

The following market areas that have been designated as "preferred" areas for Small Balance ($500,000 - $2,000,000) Multi-Family commercial loans:

• Illinois - Chicago Metro area
• Indiana - Northwest Indiana; Lake and Porter County
• Wisconsin - Milwaukee, Madison and additional locations bordering Illinois
• Minnesota - Minneapolis and St. Paul
• Ohio - Cincinnati and Columbus
• Colorado - Denver
• Oklahoma - Oklahoma City and Tulsa
• Kansas - Kansas City
• Kentucky - Louisville
• Tennessee - Nashville

Commercial Capital Limited has experts in Commercial Financing. Commercial Loans, Business Loans and other types of commercial financing. We are experts in:

• SBA 7a and SBA 504 loan programs
• Multi-Family / Apartment Building Financing
• Securities Financing
• USDA Loans
• Bridge Loans
• 90%-100% Financing for Medical Professionals
• Church Financing

Whether you need to purchase or refinance our underwriters are professionally trained and are experienced in working with borrowers of all sizes. Thus, we can fund loans anywhere in the country! So please call one of our underwriters today at Commercial Capital Ltd.: 863-298-8900 or 813-833-3132! Let us help you obain the financing you need.


CLICK BELOW for a Quick Response to your Commercial Loan Scenario
Loan Pre-Qual Form


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Commercial Capital Ltd Commercial Financing Experts!


We are the #1 Commercial Mortgage shop in the country!

Financing News Update: U.S. SENATE EXTENDS 504 FEE ELIMINATIONS!

March 3, 2010 - Small Business Administration (SBA) 504 loan recipients will benefit from the elimination of most up-front program fees for at least another month, thanks to a move yesterday by the U.S. Senate.

 

The temporary extension, which expires on March 28, eliminates both the bank participation fee of 0.5% and the certified development company (CDC) processing fee of 1.5%.

 

This is again great news for small business owners looking to purchase owner-occupied commercial real estate and/or long-life machinery and equipment through the 504 loan program.  The fee relief will save borrowers approximately $10,000 in upfront, out-of-pocket costs on a typical loan.

 

A longer extension is currently in the works in Congress as part of the Jobs Bill, which contains an additional $354 million to extend the program fee eliminations through Sept. 30, 2010. That bill also contains provisions that would increase the cap on 504 loans (SBA portion) to $5 million for standard small businesses and $5.5 million for small manufacturing businesses as well as allow for the refinancing of owner-occupied commercial real estate loans under the 504 program.

If the Jobs Bill does not pass by March 28, lenders can expect the SBA to re-activate its Recovery Act Loan Queue, as it has done twice previously.  Once this occurs, loans are placed into the queue awaiting the availability of funds.

 

According to the SBA, program enhancements thus far have accounted for an additional $18.2 billion in lending to more than 40,000 small businesses with small businesses reporting that the provisions will save or create more than 500,000 jobs.

 

504 PROGRAM HIGHLIGHTS

* Up to 90% commercial financing.

* Below market, fixed interest rates.

* Long amortization terms (up to 20 years).

* Loans are assumable by qualified, acquiring businesses.

* Projects from  $125,000 to $20 million.

* Temporary elimination of most up-front program fees.

 

ELIGIBLE USE OF 504 PROCEEDS

* Buy land and construct new building.

* Buy land and existing building.

* Remodel, convert, expand or renovate existing building.

* Green initiative projects.

* Purchase of long-life machinery and equipment.

* Associated fees and soft costs

 

Our underwriters are professionally trained to keep the interest of the professional a priority.  They are experienced in working with borrowers of all sizes.  Thus, they can fund loans anywhere in the country! 

For more information call us TODAY at 863-298-8900  or email us at: loans@commerciallendingpros.com 

Click here for a Loan Submission Form

 

 

Commercial Capital Ltd.

Tel: 863-298-8900

Fax: 863-877-4456

Email: loans@CommercialLendingPros.com

Website: www.CommercialLendingPros.com

Your #1 Source For Commercial & Business Financing

 

SECURITIES FINANCING: A PERFECT ALTERNATIVE TO TRADITIONAL FINANCING!!

A Securities Loan allows investors to borrow against their securities portfolio to create liquidity while staying in the market and enjoy the benefits of dual appreciable assets at once.

• Can borrow up to 80% or more of the value of your security
• No maximum loan amount
• Interest Rate can be as low as 4%!
• Non-Recourse – no credit bureau reporting
• Response typically within 48 hours of receipt of quarterly report, securities statement, etc.
• Funding within 7 to 10 days from contract execution
• May be used to purchase real estate outright, pay off a hard money loan and more…
• Loan is NOT securitized by real estate
• Maintain ownership of stocks and gain if your securities rise.

For more information about Securities Financing contact Commercial Capital Lmiited by visiting http://www.commerciallendingpros.com/, emailing us at loans@commerciallendingpros.com or calling 863.298.8900.

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Don't be Afraid of Tax Returns that show Low or No Profits!

Many clients and brokers shy away from loan programs that require tax returns to verify business income. The reality is that these days almost all commercial lenders require tax returns. The days of "stated income" loans are long gone. But not to worry. We do "Add-Backs" as they are commonly referred to in underwriting. What that means is we look for the TRUE CASH FLOW of a business. Not the income that's reported on the bottom line of a business tax return after your CPA gets done utilizing all the deductions that are legitimately available to reduce taxable income. We will routinely add back such expenses as depreciation, compensation to officers, amortization and interest expense on almost every return. And we'll also add back any expense that will be "going away" as a result of the new loan request. For example, if the loan is to buy a new location to replace an office the business has been renting - we'll add back all the rent expense that was deducted. If the loan is being used for "debt consolidation" then we'll add back all the additional income that went to pay those debts that will be going away. You'd be surprised at just how much real cash flow most businesses have to work with when you know where to look. So don't be afraid to show those tax returns, even if they don't look so pretty at first glance.

For more information contact Commercial Capital Lmiited by visiting http://www.commerciallendingpros.com/, emailing us at loans@commerciallendingpros.com or calling 863.298.8900.
Visit the link below to get a Quick response to your Commercial Loan Scenario. Simply provide us with some VERY BASIC information: Quick Loan Pre-Qual form