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SBA 7a Loans
SBA 7a Loans
Flow Chart
| Purchase Price: |
$500,000 |
- |
| Down Payment: |
$50,000 |
10% |
| Loan Amount: |
$450,000 |
90% |
| SBA Guarantee: |
75% |
- |
| Guarantee Amount: |
$337,500 |
- |
| Guarantee Fee: |
Waived |
** |
| Proposed Loan: |
1st TD only |
| Loan Amount: |
$450,000 |
| Term: |
25 years |
| Prime Index: |
4.250% |
| Spread: |
2.750 |
| Interest Rate: |
7.00% |
| Monthly Payment: |
$3,180 |
| Prepayment Penalty: |
5,3,1 |
Footnotes:
- No CDC involvement with SBA 7a loans
- Guarantee fee is on a scale of 2% to 3.5% subject to loan amount
- The new stimulus package has temporarily reduced the SBA guarantee fee to zero
- Stimulus package has increased the loan guarantee to the lender to 90% until the end of 2009
- Borrower pays out of pocket for SBA guarantee fee and other related costs
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RETURN TO SBA LOANS from sba 7a loans flow chart
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