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Small Business SBA Loan Program

 The Small Business Loan Program at First Merchants Financial Services is an excellent source of financing for most businesses. First Merchants Financial Services has been designated as a Preferred Financial services company by Preferred SBA lenders to have loans processed more quickly and efficiently. This designation means that the SBA has delegated the approval process to our lenders, which means fast and efficient processing of your SBA loan.

COMMERCIAL/INDUSTRIAL REAL-ESTATE FINANCING

Purchase - Build - Refinance - Renovate - Owner-occupied

  • Non-conforming properties

  • Single-purpose buildings

  • Gas stations

  • Restaurants

  • Repair Shops

  • Auto Dealerships

  • Hotels and motels

  • Convalescent hospitals

  • Veterinary

EXISTING BUSINESS ACQUISITION LOANS

  • Your company's cash flow & management capabilities are our primary indicators

  • Up to $1.25 million a year

  • Up to 15-year term

  • Up to 80% financing

  • Loans fully amortized, no balloons

  • No pre-payment penalty

  • 48 hour pre-qualification

EQUIPMENT FINANCING

  • Commercial printing and binding

  • Machine tools

  • Manufacturing Equipment

  • Heavy Equipment

  • Trucking

  • Medical Equipment

  • Laundry/dry cleaning

  • Diagnostic Equipment

LOANS UP TO $5 MILLION

  • No cost pre-qualification letters

  • Competitive rates and flexible terms

  • No pre-payment penalties

  • Up to 90% financing

  • Up to 25-year terms

  • Fully amortized

  • Fixed and variable rate options on both 7a and 504 programs

7(a) Loan Program

We specialize in providing long-term permanent financing to small businesses. Our loans, including the 7(a) Loan Program, are made through the Small Business Administration (SBA) guaranteed loan programs.

Eligible Businesses and Property Types

Almost any type of for-profit business is eligible for financing. Commercial real-estate must be partially occupied by borrower and includes, but is not limited to, the following types of properties:

  • Office Buildings

  • Warehouses

  • Industrial Buildings

  • Manufacturing

  • Child Care Facilities

  • Car Wash Facilities

  • Automotive Repair

  • Shops

  • Professional Buildings

  • Hotels and Motels

  • Restaurants

  • Gas Stations

  • Bed and Breakfasts

  • Franchises

  • Start-ups

  • Single-Use Buildings

Eligibility based on SBA size standards. Typically, retail businesses with annual sales of less than $6,000,000, manufacturing business with less than 500 employees, and service businesses with less than 100 employees. Eligible businesses include those in retail, manufacturing, and services industries.

Use of Proceeds

Real-estate acquisition, construction, or refinance - up to 90% financing available
 Business Acquisition - up to 80% financing available
 Equipment Acquisition - up to 100% financing available
 Debt Refinance -up to 100% financing available

Terms

Up to 25 years for real-estate financing
Up to 10 years for equipment or business acquisition financing
Up to 7 years for permanent working capital
All loans are fully amortized.

Interest Rates and Fees

Interest rates are always market competitive. Fees are generally limited to the SBA guaranty fee and customary closing costs.

Loan Amounts

Loan amounts range from $200,000 to $5,000,000

504 Loan Program

We specialize in providing long term permanent financing to small businesses. Our loans, including the 504 Loan Program, are made through the Small Business Administration (SBA) guaranteed loan programs.

Use of Proceeds

Real-estate acquisition, construction, or refinance - up to 90% financing available
 Equipment Acquisition - up to 80% financing available

Loan Structures

Financing available on projects up to $12,000,000.

  1. First Merchants Financial Services typically provides a first mortgage of up to 50% of the total loan-to-value. This loan can range from $100,000 to $3,000,000.

  2. The SBA, through a Community Development Company (CDC) provides up to 40% loan-to-value in a second lien position. This loan can range from $100,000 to $5,000,000.

Terms and Interest Rates

First Mortgage - up to 25-year term for real-estate loan and up to 15-year term for equipment purchase with fixed and variable interest rates available.
 Second Mortgage - up to 20-year term for real-estate and up to 15-year term for equipment purchase. Fixed rate is determined at SBA guaranteed 504 debenture sale.

Fees

First Mortgage - fees are always market competitive.
 Second Mortgage - 2.75% + legal review fee. This fee is financed in the loan.

Fees also include customary closing costs, construction loan fees (if applicable), and bridge fees.

Eligible Properties

Almost any type of for-profit business is eligible for financing. Commercial real-estate must be partially occupied by the borrower

 

The Triad  # 1 Small Business & Church Lending Resource    

855-768-0933     336-768-0936

3516 Vest Mill Rd Winston Salem NC 27103

 

email: firstmerchantsfinancialteam@gmail.com