House Small Business Subcommittee on Investigations Chairman Congressman Mike Coffman Promotes SBA Backed Loans

House Small Business Subcommittee on Investigations Chairman Congressman Mike Coffman Promotes SBA Backed LoansThe House Small Business Subcommittee on Investigations, Oversight and Regulations Chairman Mike Coffman (R-CO) today held a field hearing in Greenwood Village, Colorado to examine the state of small business lending, focusing on Small Business Administration (SBA) loan programs and the regulatory impediments to small business lending. Coffman said, "It is important for small business owners and community banks to hear from the Small Business Administration about government-backed lending programs that can help them, and it is equally important for legislators and government agencies, like SBA, to hear directly from small banks about how regulators have responded to the financial crisis of 2008 and how regulations have affected small business lending. Because of the importance of small banks as lenders to small companies, a proper balance should exist between an effective regulatory structure that protects depositors and a financial institution's ability to lend. Public forums like today's field hearing are very important in achieving that balance." . . . keep reading about Small Business Lending

If you are a small business looking for financing Commercial Lending Pros can help you find the financing you need.  We work with over 150 different lending sources who are lending and will evaluate your loan scenario in a prompt professional manner. We will underwrite and process Small Business Administration Loans:

• SBA 7(a)  (We are Preferred Lenders)
• SBA 504  (We are Direct Lenders)

The provisions of the Equal Credit Opportunity Act shall apply to all applicants for loans submitted under these government guaranteed loan programs. There shall be no discrimination on the basis of race, color, religion, age, sex, marital status, handicap or national origin.  It is our goal to facilitate a quick funding on all SBA loan requests. Additionally, we offer the following advantages:

• Competitive rates and terms
• Purchase or refinance of commercial real-estate, with cash out permitted 
• SBA-guaranteed fee can be financed in most cases
• Loans size starting from $100,000 to $10,000,000

Visit us at http://CommercialLendingPros.com for more information or submit a loan scenario for pre-approval at http://www.CommercialLendingPros.com/102/325

Contact Us

Commercial Lending Pros
Commercial Capital Limited
Florida Real Estate & Commercial Loans, Inc.

Tel: 863-298-8900
Fax: 863-877-4456
Email: marcos@commerciallendingpros.com
Website: www.CommercialLendingPros.com

Your #1 Source For Commercial & Business Financing

We can get deals closed. Our Company Mission Statement is this, "Commercial Capital brings funding sources from around the country to the local business owner and investor to help keep this economy moving!" WE ARE SERIOUS ABOUT IT.
WHAT WE DO IS IMPORTANT. WHAT WE DO IS NEEDED. THE OPPORTUNITY IS AWESOME.

JOIN OUR TEAM! BECOME A BUSINESS LOAN PRO TODAY! OUR TIME IS NOW!!!!

Financial News Update: Programs that are Funding

There IS money available to lend for the right kind of deals that are packaged and presented properly. Here are programs that are funding:

• New Small Balance / Short Term Bridge Loan Fund - $150,000 - $1,500,000 loan amounts (our previous minimum was $2 million)
  
• Rural Loans (for ANY town/city with under 50,000 population)
  
• SBA 7A and 504 Loans (rates are at all time lows and money IS available to lend for owner-occupied properties and small businesses thanks to gov't. Stimulus Bill)
  
• NEW fund for large development projects that qualify in one of the following categories:
  - Infrastructure (roads, utilities, bridges, etc.)
  - Humanitarian (hospitals, disaster recovery, etc.)
  - Green Energy (wind farms, bio-diesel plants, etc.)
  - Job Creation (lots of projects could fit into this category)
  
• Government Loan Programs for Multi-Family Housing and Assisted Living Facilities
  

For more information call us TODAY at 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

BREAKING NEWS: 504 Program Gets Big Boost from Stimulus Bill

BREAKING NEWS
504 Program Gets Big Boost from Stimulus Bill

The $787 billion American Recovery and Reinvestment Act of 2009 is now law. The good news for the 504 loan program is the Act contains several enhancements that will boost the program's appeal for lenders and borrowers alike.

• Most up-front fees have been eliminated, including the lender participation fee and the certified development company (CDC) processing fee, which will now be paid directly by the federal government. This change will reduce upfront borrower costs by $10,000 on a typical 504 loan.
• Refinancing with a 504 loan is greatly expanded. Existing Small Business Administration (SBA) loans are also eligible and projects that meet certain criteria may be refinanced into a low-rate 504 loan.
• The secondary market will be revived by the creation of a 100% guarantee on 504 first mortgages.

Following is a summary of the changes contained in the final bill, H.R. 1. It contains small business sections from the two bills that were initially passed by the Senate and the House.

Fee Reductions

• The Act provides $375 million for the elimination of fees for both the 7(a) and 504 programs through Sept. 30, 2010.
• For the 504 program, both the bank participation fee of 0.5% and the CDC servicing fee of 1.5% will be zero.
• What is not yet decided is how the $375 million will be distributed between the two programs, which will be at the discretion of the SBA.
• CDCs will have their servicing fees reimbursed by the SBA.

Low-Interest Refinancing
Another major change is to allow refinancing of existing government guaranteed debt, including 504 loans. Permissible debt financing includes:

(A) Any 504 project "may include a limited amount of debt refinancing."

(B) If the project involves expansion of the small business, an amount not to exceed 50% of the project cost may be refinanced, if:

• Proceeds will be used to acquire land, to construct or expand building or to purchase equipment.
• Existing debt is collateralized by fixed assets.
• Existing debt was incurred for benefit of small business.
• Proceeds will be used only for refinancing existing debt or costs related to the project.
• It will provide a substantial benefit when prepayment penalties, financing fees and other financing costs are accounted for.
• Borrower is current on all payments of the existing debt for not less than one year.
• New financing will provide better terms or interest rate.

H.R. 1 does not exclude government guaranteed debt from indebtedness that may be refinanced, thus making 504 loans and 7(a) loans eligible for refinancing.

This is a permanent addition to the Small Business Investment Act.

Establishment of SBA Secondary Market Guarantee Authority

• The Act establishes a program to provide up to $3 billion in guarantees for 504 first mortgage pools that are to be sold to third-party investors. It appears these may be existing pools of loans, or new loans that may be pooled after the date of enactment.
• The seller of these pools must retain not less than 5% of the pool amount to be sold to investors.
• The seller must absorb all losses resulting from a shortage of monthly cash flows, but gets to keep any overage in monthly cash flows.
• The fee paid to the SBA must be not more than 50 bp of the outstanding guaranteed balance per year (assumed bill change).
• The program ends two years after date of enactment.

Job Creation Goals

• The job creation ratio has been changed from one job per $50,000 to one job per $65,000. This is another permanent change to the Small Business Investment Act.

Timeline

• From here, the next step is for policy-makers at the SBA to develop the regulatory changes that will be required to fully implement the provisions of this new law. The exact timeline isn't known as of this writing but as soon as it becomes available we will forward the information to our lending partners.

Additionally, the SBA recently added new 504 public policy goals that benefit small businesses that go green.

Under the SBA's new Energy Efficiency Public Policy Goals, small businesses that go green may now qualify for up to $4 million on the SBA/FFCFC (second mortgage) portion of their 504 loan.

There is still no limit on the amount of the bank's first mortgage loan, and therefore no maximum project size. Commercial Capital, Ltd. 504 loans can be used for the purchase, renovation or construction of owner-occupied commercial real estate.

$2 Million Eligibility Requirements:

• LEED certified projects (or other rating system) that show the increased use of sustainable, low-impact design. (Examples: superior design/efficiency in a new or improved location.)

$4 Million Eligibility Requirements:

• Projects that reduce energy consumption by at least 10%.
• Projects that generate renewable energy or renewable fuels.
  (Examples: improved HVAC and improved insulation/lighting; solar; biomass; hydropower; geothermal; wind; and ocean thermal.)

For projects generating renewable energy, it does not need to be the business's primary business activity, just a method of meeting its own energy needs (for example, installing solar panels).

For more information on Commercial Capital, Ltd. and its 504 loan program, visit www.CommercialLendingPros.com, email us at loans@CommercialLendingPros.com or call 863-298-8900.

92.5% Multi-Family & Assisted Living Financing!

We have access to special government guaranteed financing programs for apartment building and assisted living facility acquisition, rehab and new construction that offer loans of up to 90% loan to cost for new construction and rehab projects and up to 92.5% total financing to appraised value for purchases with fixed rates and 35 year amortization available.

Up to 92.5%* Loan-to-ValueMultifamily – Assisted Living Acquisition

• $2 Million Loan Minimum
• 35 Year Amortization
• 35 Year Term (no balloon)
• 7.5% Seller promissory note allowed for down payment requirements
• No maximum loan amount
• Low, fixed interest rate, based on market spreads over the Ten-Year Treasury Yield
• No personal liability (non-recourse)
• Negotiable pre-payment terms
• 1:15 Minimum Debt Service Coverage
• This loan is always assumable
• Third-party expenses and loan costs are financeable.

* 85% LTV with 15% equity where we may allow 1/2 of the 15% in the form of a seller note on apartments. Thus only 7.5% equity or 92.5% CLTV.

Please keep in mind that there are more deals needing money than money to lend so only the better deals get funded. To find out if we can help you, just call us at: 1-863-298-8900. It costs nothing to see if we can help you!

So call us TODAY at 863-298-8900 or visit our web site at http://commerciallendingpros.com/