Blog
Nov 16, 2010
SBA 504 Replacement Loan-CLOSED!-$525,000
Where: Fort Pierce, FL
Type: SBA 504 Daycare Purchase.
This is a loan that had initial approval from both the first mortgage lender and the SBA on the second, but the first mortgage lender did not perform. This happens when they are getting taken over by the FDIC or they are getting audited or they just are plain shut down. Unfortunately, that is happening a lot nowadays. Our loan product replaces that first mortgage using the SBA Second mortgage and get the loan closed quick. We can even use the appraisal and environmental in many circumstances! If your SBA 504 loan is dragging, maybe you should consider Commercial Capital.
We LOVE SBA 504 loans and close them every month.
Call Brett today at 800-557-0682 Ext 1