SBA 7a financing Tag

An attractive resource for business and commercial real estate borrowers SBA 7(a) lending is a fantastic resource for borrowers in industries including hospitality, medical, assisted living/skilled nursing, retail, manufacturing restaurants and more. Its name comes from the narrative section of the Small Business Administration Act, which authorizes the agency to fund small business. Applicants must meet certain eligibility criteria including occupancy and/or use of at least 51% of the space. The loan doesn’t come from the SBA; it comes from an approved commercial lender, and you can find those easily within a quick internet search. The attractiveness to borrowers is the range of loan sizes, long repayment terms and relatively low-interest rates. The attractiveness to lenders is that up to 75% of the...

Entering into the year, the economy was on the rise. Borrowers were expecting significant liquidity from institutionalized lenders. Private money lenders were anticipated to be most active and the LTC percentages were going to rise, indicating an overall increase in risk appetite. After the worldwide spread of COVID-19 in February and the enforced self-quarantine as a measure; the financial structures were hit abruptly and harshly. This caused a partial to total shutdown of business operations for a lot of companies. Small businesses were among those first affected especially after realizing the key statistic that according to the National Bureau of Economic Research; about three-quarters of the small businesses have the cash to cover just two months of operations at most. https://www.fiercetelecom.com/telecom/centurylink-opens-small-business-focused-150-employee-call-center-louisiana To counter...