SBA Loan Program
Excellent Source of Financing for most Businesses
The Small Business Loan Program at Prime Commercial Lending is an excellent source of financing for most businesses. Prime Commercial Lending has been designated as a Preferred Financial services company by Preferred SBA lenders to have loans processed more quickly and efficiently than many others. This designation means that the SBA has delegated the approval process to our lenders which means fast and efficient processing of your SBA loan.
COMMERCIAL/INDUSTRIAL REAL ESTATE FINANCING
- Non-conforming properties
- Single-purpose buildings
- Gas stations
- Repair Shops
- Auto Dealerships
- Hotels and motels
- Convalescent hospitals
EXISTING BUSINESS ACQUISITION LOANSYour company’s Cash Flow & Management Capabilities are our primary indicators
- Up to $1.25 million a year
- Up to 15 year term
- Up to 80% financing
- Loans fully amortized, no balloons
- No pre-payment penalty
- 48 hour pre-qualification
EQUIPMENT FINANCINGCommercial printing and binding Machine tools Manufacturing Equipment Heavy Equipment Trucking Medical Equipment Laundry/dry cleaning Diagnostic Equipment
LOANS UP TO $5 MILLION
- No cost pre-qualification letters
- Competitive rates and flexible terms
- No pre-payment penalties
- Up to 90% financing
- Up to 25-year terms
- Fully amortized
- Fixed and variable rate options on both 7a and 504 programs
7(a) Loan ProgramWe specialize in providing long term permanent financing to small businesses. Our loans, including the 7(a) Loan Program, are made through the Small Business Administration (SBA) guaranteed loan programs.
Eligible Businesses and Property TypesAlmost any type of for-profit business is eligible for financing. Commercial real estate must be partially occupied by borrower and includes, but is not limited to, the following types of properties:
- Office Buildings
- Industrial Buildings
- Child Care Facilities
- Car Wash Facilities
- Automotive Repair
- Professional Buildings
- Hotels and Motels
- Gas Stations
- Bed and Breakfasts
- Single-Use Buildings
Use of Proceeds
- Real estate acquisition, construction or refinance – up to 90% financing available
- Business Acquisition – up to 80% financing available
- Equipment Acquisition – up to 100% financing available
- Debt Refinance -up to 100% financing available
- Up to 25 years for real estate financing
- Up to 10 years for equipment or business acquisition financing
- Up to 7 years for permanent working capital
- All loans are fully amortized.
- Interest Rates and Fees
- Interest rates are always market competitive. Fees are generally limited to the SBA guaranty fee and customary closing costs.
Loan AmountsLoan amounts range from $200,000 to $5,000,000
504 Loan ProgramWe specialize in providing long term permanent financing to small businesses. Our loans, including the 504 Loan Program, are made through the Small Business Administration (SBA) guaranteed loan programs.
Use of Proceeds
- Real estate acquisition or construction – up to 90% financing available
- Equipment Acquisition – up to 80% financing available
- Loan Structures
- Financing available on projects up to $12,000,000.
Terms and Interest Rates
- First Mortgage – up to 25-year term for real estate loan and up to 15-year term for equipment purchase with fixed and variable interest rates available.
- Second Mortgage – up to 20-year term for real estate and up to 15-year term for equipment purchase. Fixed rate is determined at SBA guaranteed 504 debenture sale.
- First Mortgage – fees are always market competitive.
- Second Mortgage – 2.75% + legal review fee. This fee is financed in the loan.
- Fees also include customary closing costs, construction loan fees (if applicable), and bridge fees.
Eligible PropertiesAlmost any type of for-profit business is eligible for financing. Commercial real estate must be partially occupied by the borrower.
66 South Pearl St.
Albany, NY 12207
Cash flow financing is a complex area for small businesses to delve into because much of it is built around particular business models targeted by niche lenders. Luckily, there are a few staples that are easy to navigate, with fast application processes and simple...