Joseph Upson

Access to capital is always a hot topic for small businesses. LendingCon - Hospitality Investors Conference panel on How to Finance a Deal. Scott Radway of First Capital Finance/Florida First Capital speaks to SBA 504 financing in hospitality industry. #SBA #hospitality #accesstocapital

7

FUNDED DEAL: RCN Capital, a national direct private lender, funded a $262,923 1st lien position DSCR long-term rental purchase loan for a single-family home in Charlotte, NC. We funded 74% of the $350,000 purchase price, while the Borrower contributed 26% cash to the purchase at closing. This experienced Borrower plans to secure a long-term tenant after closing since they intend to hold the property long-term. The Borrower having excellent credit and financials helped them qualify for 74% loan-to-purchase price. The 1,491-square-foot subject property was in good condition and vacant at closing. It is expected to cash flow with a DSCR of 1.05. The interest rate was 6% with amortized payments, and we charged 4% origination points. The loan term was set at 30 years. This DSCR loan was funded in August 2024. Visit this page on Private Lender Link to learn more about the deal and the lender: https://pllk.io/214995 Dealmaker: Serena DeStefani, Senior Loan Officer #privatelending #privatemoney #privatelenders #privatemortgage #hardmoney #hardmoneylenders #hardmoneylending #bridgelending #bridgelenders

27

1 Comment

Navigating SBA and traditional bank loans? A precise and comprehensive valuation by Sofer® Advisors is critical to securing your loan approval. We specialize in assessments that showcase your business's financial health and growth potential, reassuring lenders of your capability to manage and repay debt. Enhance your loan success and set your business up for future stability and growth with our expert valuation services. https://hubs.li/Q02wltjc0 #Advisor #businessvaluations #businessadvice #businessowners #valuationservices #businessvaluation #leadership #mentoring #businessplanning #businessanalysis #businessculture #soferadvisors

4

Need financing to get your business started? The Small Business Resource Guide, 2024 National Edition breaks down the SBA Funding options. Read more on our blog to find out which one could work best for you:

2

"The Dangerous Second Act"- Many business owners reach a level of success then begin to assume they know everything about everything, and that can come back to bite them when they take on a second business. Learn more: https://bit.ly/3WX2Gml #TennesseeValleyGroup #BusinessIntermediary #SellABusiness

11

SBA 7a Business Acquisition Loans: Is This Your Best Option? https://lnkd.in/g5Z9_pEj Acquiring a business can be challenging, particularly regarding financing. SBA 7(a) business acquisition loans provide support to entrepreneurs seeking to purchase an existing company. These government-backed loans offer up to $500,000 in funding, making business ownership more attainable. This article examines the eligibility criteria, terms, and benefits of SBA 7(a) loans for business acquisitions. Entrepreneurs considering this option can explore the next phase in their business ventures. Key Takeaways of SBA 7a Business Acquisition Loans - SBA 7(a) loans offer up to $5 million for business acquisitions, with interest rates ranging from 11% to 14.5%. - Eligibility requires good credit scores (690+), strong business performance, and operating as a for-profit entity in the U.S. - These loans have flexible terms, including lower down payments and longer repayment periods than traditional bank loans. - Funds can be used for various purposes, such as buying equipment, hiring staff, or purchasing real estate. - SBA 7(a) loans make business ownership more accessible by providing easier access to capital for small firms. Fuel Your Business Growth with the SBA 7(a) Loan Program: Flexible Funding for Small Businesses! The SBA 7(a) Loan Program is a versatile financing solution designed to meet the diverse needs of small business owners. Whether you need working capital, funds for expansion, or resources to refinance debt, this program provides the support to help your business thrive. The SBA 7(a) Loan is tailored to empower small business owners with the flexibility and funding needed to achieve your goals. Schedule Your SBA 7(a) Loan Consultation Now https://lnkd.in/e8duBvFy #SBA7a #SBA #SBALoan #SBALoans #BusinessLoans #Financing #Lending #WorkingCapital #Credit #Funding #SmallBusiness #SmallBusinesses

3

SBA Rates Most Small Business Administration loans are going to be a variable term and will be based on the prime rate plus a spread of usually between 2.00 – 2.75. On certain instances, we can even fix rates for the life of the loan as low as prime plus 1.00. Let ICA help you determine your best option - https://ow.ly/KuOB50Ufrr5 #sba #smallbusiness #expanding #acquiring

1

In the industry of SBA-backed business acquisition loan transactions, shortcuts just don’t cut it. For a successful handover, buyers, sellers, and even some direct SBA lenders must embrace integrity and transparency. #BusinessBuyers #Entrepreneurship #SBA

2

SBA 504 Loan Closing Costs: What to Budget For https://lnkd.in/gpenW3eS Small business owners often find it challenging to comprehend the closing costs linked to SBA 504 loans. These expenses can substantially affect the total cost of borrowing for commercial real estate or equipment purchases. This guide explains SBA 504 loan closing costs, making them more understandable for business owners. It clarifies these fees for those seeking information. Key Takeaways of SBA 504 Loan Closing Costs - SBA 504 loan closing costs typically range from 3-5% of the total loan amount and include fees like CDC processing (1.5%), SBA guarantee (0.5%), and servicing (0.25%) fees. - Closing costs vary based on loan size, project complexity, and location. Larger loans and more complex projects often result in higher fees. - Some fees are fixed, like the $2,500 closing attorney fee, while others are variable, such as underwriting and third-party report fees. - Business owners can manage costs by planning ahead, budgeting 3-5% of the loan amount for fees, and negotiating with service providers. - Current SBA 504 loan interest rates are 5.76% for 25-year loans, 5.83% for 20-year loans, and 5.87% for 10-year loans, with an extra 0.025% for refinancing. Invest in Your Business with the SBA 504 Loan Program: Affordable Long-Term Financing for Big Opportunities! The SBA 504 Loan Program is the ultimate solution for small business owners ready to make long-term investments in their growth. Whether you’re planning to purchase commercial real estate, upgrade facilities, or acquire essential equipment, this program offers the tools to achieve your goals with unmatched affordability and flexibility. Unlike traditional loans, SBA 504 Loans focus on helping small business owners invest in their future with terms that prioritize sustainability and growth. Schedule Your SBA 504 Loan Consultation Now https://lnkd.in/e8duBvFy #SBA504 #SBA #SBALoan #SBALoans #BusinessLoans #Financing #Lending #Credit #Funding

2

SBA 504 Loan for Commercial Real Estate: A Smart Option https://lnkd.in/gbhPjMU4 Financing a commercial real estate purchase can be a challenge for small businesses. The SBA 504 loan program offers a solution, providing long-term, fixed-rate financing for major fixed assets. This article explains how SBA 504 loans work for commercial real estate acquisition and development. It covers eligibility, benefits, and application steps. Key Takeaways of SBA 504 Loan For Commercial Real Estate - SBA 504 loans offer fixed interest rates around 5% and terms up to 25 years for commercial real estate purchases and improvements. - Businesses must have a net worth under $15 million and average net income below $5 million to qualify for SBA 504 loans. - The loan structure involves 50% from a bank, 40% from a Certified Development Company, and 10% from the business owner. - SBA 504 loans can be used to buy land, build new facilities, or upgrade existing properties, with a 10% down payment. - These loans provide advantages over traditional financing, including lower down payments and longer repayment terms, making them attractive for small businesses. Invest in Your Business with the SBA 504 Loan Program: Affordable Long-Term Financing for Big Opportunities! The SBA 504 Loan Program is the ultimate solution for small business owners ready to make long-term investments in their growth. Whether you’re planning to purchase commercial real estate, upgrade facilities, or acquire essential equipment, this program offers the tools to achieve your goals with unmatched affordability and flexibility. Unlike traditional loans, SBA 504 Loans focus on helping small business owners invest in their future with terms that prioritize sustainability and growth. Schedule Your SBA 504 Loan Consultation Now https://lnkd.in/e8duBvFy #SBA504 #SBA #SBALoan #SBALoans #BusinessLoans #Financing #Lending #Credit #Funding

1

How does CIM navigate lending in a dynamic commercial real estate credit market? We strive to offer flexibility and tailored financing solutions that address the unique needs of borrowers. In August 2023, a CIM-managed fund provided acquisition financing for Aloft Tampa, a 130-room, limited-service hotel in Tampa, FL. The financing was earmarked for operational improvements and a new property manager hire. The borrower finalized its property improvement plan and work is set to be completed in 2025. This is just one example of a project that underscores the efficacy of private commercial real estate credit. Interested in learning more? Read our whitepaper exploring opportunities in private commercial real estate credit: https://lnkd.in/gXn-_XUn. #cim #cimgroup

30

🌟 Board Member Spotlight: Kevin Gilligan 🌟 Kevin Gilligan is the SBA Director at The Bank of Tampa. 1.    What inspired you to get involved with FLAGGL and SBA lending?  The story here is twofold. I was drawn to SBA lending early in my career when I witnessed the impact it has on small business and the power of entrepreneurship. Fortunately, I was surrounded by some great mentors that help inspired and helped grow that passion. Now, I have the privilege of working alongside and mentoring new SBA professionals, while passing along the same guidance that inspired me. 2.    What’s one piece of advice you would give to small business owners? Prioritize personal connections with your clients by providing excellent service, listening to feedback, and tailoring your offerings to meet their needs. Loyal customers are invaluable; they’re more likely to return, recommend your business, and provide honest insights that can help you improve. As a small business, this personal approach is an advantage you have over larger competitors, so use it to create a community around your brand. 3.    Can you share a fun fact about yourself that most people don’t know? I worked on President Bush’s 2004 campaign and had the opportunity to meet President Bush Sr., President Bush Jr., Jeb, and Laura Bush. 4.    What’s your favorite book, podcast, or resource for professional development? Maxwell Leadership Podcast 5.    What’s your go-to activity when you’re not working? Boating / Fishing with my family! 6. What is your favorite FLAGGL memory? Honestly, there are so many I could list here. My favorite in recent memory was the casino night at our last conference. I’ve never had more fun losing all my $$$! 7. What is your role on the FLAGGL board? Chair Elect – Communications Chair Stay tuned for our next spotlight! Follow us to keep updated on insights from leaders transforming the world of SBA lending. #SBALending #BoardSpotlight #Leadership #Innovation #Finance #BusinessGrowth

133

3 Comments