Please read the following requirements before filling out the form:
504 loans (nationwide service):
- Owner occupied real estate of 51% unless a mini warehouse or small retail strip center which has not occupancy requirement
- In addition to real estate, equipment can be financed up to 15 years
- Total loan not to exceed $13,000,000
- Can refinance balloon loans
- Interest rates are quoted per project but generally are presently fixed at 7% for 25 years
- US citizen or green card
- Financing can be used for acquisition, refinancing, or expansion
- Credit score 680+
- No bankruptcy history
- No criminal record
- Business profitable for last two years including a positive net worth
7-a loans (North Texas and Houston-area Service):
- Total loan not to exceed $5,000,000
- Can refinance balloon loans,
- Can be used to replace factoring financing
- Interest rates are quoted per project but can not exceed P+2 3/4%
- US citizen or green card
- Financing can be used for acquisition, refinancing, or expansion of real estate, working capital, accounts receivable, inventory and equipment
- Maturities will vary depending on the type of collateral, but generally range from 7 – 20 years
- Credit score 680+
- No bankruptcy history
- No criminal record
- Business profitable for last two years including a positive net worth
