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| | Do you want financial
freedom? | | Have
you ever wanted to be your own boss and own your own business or franchise, but
didn't know where to begin? We can help you! If you need assistance locating the
perfect business, we can put you in contact with a business
broker. If you have already identified a business, your next step is to apply
for the loan. Read more to find out which type of loan you will need. |
Small Business Administration (SBA) Loans...
| The SBA defines
a small business as one that is independently owned and operated and not dominant
in its field. We work with the nation's top SBA 'preferred' lenders who quickly
evaluate your application. You can Download
the SBA application for my primary SBA lender, Comerica, and get started
today. Our SBA expert at Comerica currently has a 100% pull-through ratio!!!
If you want to know if you would qualify for an SBA loan before filling out the
entire application, just commplete pages 10, 13 and 17, send back to us and we
will work with our SBA lender to pre-qualify you. Each application is evaluated
on an individual basis with consideration to the business' and applicant's financial
records, but here are some general guidelines to help get you thinking about your
potential:
- The typical interest rate is Prime
+ 2%
- Business Acquisitions can finance up to 80% of the sales price.
(20% equity required)
- New Business start-ups can finance up to 70% of
the sales price. (30% equity required)
- If Business acquisition with less
than 3 years of history and either business or borrower financials are week, it
may be treated like a start-up at 70%
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- Average closing costs on a $200k loan are $7500.
- Sellers can
provide a 2nd carryback note, but the note may only be for HALF or less of the
required equity.
- If the seller provides a 2nd carryback note, the structure
must be for no interest or principal for at least three years then followed by
interest only for two years, and the remaining term of the loan could have principal
and interest payments.
| For more information on the
SBA and their requirements, visit
the SBA Website | | | |
Large Commercial Loans ... |
Are you thinking bigger? A strip mall, appartment complex, hotel, office building,
golf course, carwash or how about a restaurant or bar? Or perhaps you don't qualify
for an SBA loan... We can still find a commercial loan for your needs. Trinity
Home Loans works with national commercial lenders to obtain financing up to $30Million
+ depending on the specific business. Listed are a few examples of the types of
loans we can obtain for you. If you don't see the business you are interested
in, contact us to see if we can help.
| BUSINESS | LOAN
$ | MAX LTV |
| Small Appartment Complex |
$200K - $3M | 80% | |
Large Appartment Complex | $2M - $30M+ |
80% | | Hotel / Motel |
$100K - $6M+ | 80% | |
Retail Shopping Mall, Strip Center, Office Building, Industrial |
$100K - $10M+ | 75% | |
Car wash, Restaurant, Bar, Auto repair, Funeral Home, Daycare, Campground, Golf
course, Self Storage, Mobile home park, Auto repair shop |
$100K - $1M+ | 75% | |
- Cash Out loans available on all property types except Churches.
- Express
commercial loans from $100K to $2M+ with quick closings available for both Stated
& Full documentation up to 75% LVT
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