Unrestricted cash-out and no personal guarantees are compelling features of CMBS conduit loans. To make CMBS conduit loans even more attractive, a “fixed cost” option is now available for loans between $2 million and $10 million. Furthermore, loan structure has been eased, creating a more … [Read more...] about 2.2.18: IMPORTANT UPDATE: Fixed-Cost Program Available for CMBS Conduit Loans
4.5.16: SBA Close to Restarting 504 Loan Refinance Program
After years of advocating on Capitol Hill by commercial real estate industry leaders, the SBA 504 Loan Refinancing Program was permanently reinstated on December 18, 2015, more than three years after it expired in 2012. Also known as the Commercial Real Estate and Economic Development (CREED) Act, … [Read more...] about 4.5.16: SBA Close to Restarting 504 Loan Refinance Program
7.24.15: SBA 7(a) Program Shuts Down
The SBA 7(a) loan program has reached its authorized ceiling of $18.75 billion for the fiscal year ending September 30, 2015 and therefore has shut down until the new fiscal year begins on October 1, 2015 or until Congress increases the authorization level. Even though the 7(a) program operates … [Read more...] about 7.24.15: SBA 7(a) Program Shuts Down
6.13.14: ValueXpress to Offer Fixed-Fee CMBS Program
ValueXpress is putting the final touches on a fixed-fee CMBS conduit loan program for small-balance CMBS conduit loans with a banking partner. Applications are being accepted now and transactions are expected to close within 60 days. The program caps transaction costs at $25,000 and is available for … [Read more...] about 6.13.14: ValueXpress to Offer Fixed-Fee CMBS Program
3.12.14: SBA Approves Borrower-Friendly Rule Changes for 504 Loan Program
The Small Business Administration (SBA) has issued a rule that will eliminate the section of the SBA guide which limits project expenses eligible for 504 Loan Program financing to those incurred within nine months prior to receipt by SBA of a completed loan application. This change will permit … [Read more...] about 3.12.14: SBA Approves Borrower-Friendly Rule Changes for 504 Loan Program
12.5.12: SBA 504 Program Still Best Opportunity for Owner-Occupied Purchases
The Small Business Administration's (SBA) 504 loan program provides long-term, fixed-rate financing for owner-occupied commercial real estate and for the purchase of long-term capital assets. SBA 504 loans are designed to cover up to 40% of a project's costs with a maximum of $5 million in funding; … [Read more...] about 12.5.12: SBA 504 Program Still Best Opportunity for Owner-Occupied Purchases
4.16.12: AAHOA Heads to Washington, D.C. in Support of SBA Program Extensions
Asian American Hotel Owners (AAHOA) leaders met with members of Congress to discuss two legislative priorities. In recent months, discussions in Washington, D.C. have centered on eliminating the SBA 504 Loan Refinancing Program, which is scheduled to expire in September. AAHOA has asked Congress to … [Read more...] about 4.16.12: AAHOA Heads to Washington, D.C. in Support of SBA Program Extensions
4.25.11: Moving the 504 Refinance Program Forward: SBA Removes Another Roadblock
As some banks discovered as they tried to move new 504 refinance loans through the SBA regional approval centers, their loans were getting thwarted -- not by the SBA, but by the lender that held the note the new lender was trying to refinance. SBA Form 2416 was modified effective April 14, 2011, so … [Read more...] about 4.25.11: Moving the 504 Refinance Program Forward: SBA Removes Another Roadblock
8.26.10: Use HUD 221(d)4 Program for Multi-Family Rehab Loans
Many borrowers are facing a difficult time finding lenders interested in construction or rehabilitation loans right now. But multi-family owners with a need and desire to rehabilitate their multi-family properties are finding the HUD 221(d)4 program a viable alternative. “We direct clients with … [Read more...] about 8.26.10: Use HUD 221(d)4 Program for Multi-Family Rehab Loans
5.26.10: But the USDA B&I Program Has Stimulus Money — for One Week Only!
Karen McDonnell, Business Program Specialist for the N.Y. office of the USDA, reports that although the USDA B&I loan guarantee program has officially run out of stimulus money, an allocation of stimulus money will be available for applications received during the week of June 7, 2010. Ms. … [Read more...] about 5.26.10: But the USDA B&I Program Has Stimulus Money — for One Week Only!