Commercial Finance
We offer expert funding for hotel/motel, office, gas stations, industrial or retail property loans. Our service-oriented brokers give you the underwriting expertise required by today's tougher lending standards. Whether you are a seasoned investor or new to the market, we're here to help you explore your best options for commercial financing.
Types of Projects:
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Conventional
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SBA 7a & 504
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USDA Loans
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Non-Recourse/ CMBS
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Bridge Loans
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Private Funding, ETC.
Types of loans:
We offer you several different loans for your project, Including: Non-Recourse, Conventional, SBA (7A and 504) loans, USDA loans, and Private Financing.
Non-Recourse Loan
A Non-Recourse loan is a type of loan that is secured by collateral, which is usually the property. The borrowers don't have to provide personal guarantee for this type of loan. Hence, if the borrower defaults, the issuer can seize the collateral, but cannot seek out the borrower for any further compensation, even if collateral does not cover the full value of the defaulted amount. In other words, borrowers do not have personal liability for the loan.
These types of loans are used for two purposes:
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Refinance the existing debts of a property
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Purchase of a property
Conventional Loan
Mortgages or commercial loans are loans that are not guaranteed or insured by government agencies and only by the banks are known as conventional loans. These loans are held by the banks and financial institutions on their own books and are called portfolio loans. Lenders set their own guidelines and do not sell to other investors. These loans may have features that other types of loans may not have.
These types of loans are used for three purposes:
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Refinance the existing debts of a property
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Purchase of a property
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Construction to permanent financing
SBA 7(a) and SBA 504 Loans
SBA 7(a) loan program's objective is to help start-up and existing small businesses with financing guaranteed for a variety of general business purposes. SBA does not make loan itself, but rather guarantees (up to 85%) loans made by participating lending institutions. In this way, taxpayer's funds are used only in the event of borrower default. This reduces risk to the lender but not to the borrower, who remains obligated for the full debt, even in the case of default.
SBA 504 Loan program is also known as the Certified Development Company (CDC) program. The 504 program's aim is to promote the development of businesses. It works by distributing the loan among three parties. The business owner puts a minimum of 10%, a conventional lender puts up 50% and the CDC puts up the remaining 40%. CDCs are entities established under the 504 program as non-profit corporations to support economic growth in the local areas.
SBA 7a maximum loan amount is $5 million. SBA 504 allows us a maximum loan amount above $10 million. This enables us to secure financing for large commercial projects with lower down payment, and better blended rate.
These types of loans are used for three purposes:
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Refinance the existing debts of a property
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Purchase of a property
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Construction to permanent financing
USDA Loans
USDA loans have been designed to improve the economy and quality of life in rural America. These types of loans are made out to businesses in areas where the total population is less than 10,000. USDA does not make out the loan itself but guarantees (up to 80%) loans made by participating lenders. You can use this link to see if your property qualifies for USDA loans: https://eligibility.sc.egov.usda.gov/eligibility/welcomeAction.do
USDA loans are used for three purposes:
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Refinance the existing debts of a property
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Purchase of a property
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Construction to permanent financing
USDA loans offer terms up to 30 years with aggressive rates, which helps with lower monthly payment.
Private Financing
Enterprise America also provides private financing to its clients. For more information on this type of financing, please contact Sharif Choudhury or Our Team for further information.