If you’re starting or expanding your business, an SBA loan can provide lower down payments and more flexible terms.
At Pennington Consulting Group, we provide a comprehensive suite of products and services to meet all of your business lending needs. With over 50 Million Dollars in SBA funding under our belt we are the expert to walk you through the SBA process and get you funded.
SBA 504 Loans
MAX PROJECT : $22,000,000
MULTIPLE LOANS : Multiple SBA Loans Allowed (using Energy Conservation Rule)
RECOURSE : Personal & Corporate
LOAN TYPES : Purchase – Refinance, Construction
MAX CLTV : 90.0%
OCCUPANCY TYPE : Owner Occupied (> 51.0% of gross rentable square feet)
ELIGIBLELOCATIONS : Nationwide
PROPERTY TYPES : Real Estate & Equipment Exclusively
REAL ESTATE TYPES : All Property Types Considered, Including Hotels & Gas Stations
DSCR MIN. : 1.15%
CREDIT PROFILE : Credit Issue Driven – Not Credit Score Driven
INTEREST RATE : 1 st Mortgage: 4.25% – 4.75%n | 2 nd Mortgage: 3.5% – 3.75%
AMORTIZATION : 1 st Mortgage: 25 years | 2nd Mortgage: 25 years
TERM : 1 st Mortgage: 5 / 10 years | 2nd Mortgage: 25 years
LOAN POINTS : 1 – 2
PREPAY : 10 Year (Declining)
SBA 7A loans
LOAN LIMITS : $50,000–$5,000,000
RECOURSE : Personal & Business
LOAN TYPES : Purchase, Refinance, Start-Ups, Business Only, Working Capital, Construction
MAX CLTV : 90.0%
OCCUPANCY TYPE : Owner Occupied(> 51.0% of gross rentable square feet)
ELIGIBLE LOCATIONS : Nationwide
PROPERTY TYPES : All Property Types Considered, Including Hotels& Gas Stations
DSCR MIN. : 1.15%
CREDIT PROFILE : Credit Issue Driven – Not Credit Score Driven
INTEREST RATE : Prime + 2.75(Quarterly Adjustable)
AMORTIZATION : 10 Years (No Real Estate) – 25 Years (With Real Estate)
TERM : 10 Years (No Real Estate) – 25 Years (With Real Estate)
LOAN POINTS : 1 – 3.5
PREPAY : 5 –3 –1 (only with Real Estate)