SBA question

[Bottom Line]

Can anyone confirm that the SBA is requiring that a 51% owner -occupant use by a commercial owner? We have a deal with a buyer who is purchasing urban renewal-type property. Much of the one of the adjoining buildings, which is a part of the deal, is vacant and will be used down the road. The property is a steal, and the buyer will immediate have an even cash flow for the time they were tenants, but it just isn't necessary to be using all,of this surplus space.

[Antoine Anderson]

Hello..... Hope all is well. Yes, 51% needs to be owner-occupied on a SBA Deal. I am a Private Direct Lender and also a Correspondent Lender with South End Capital. We specialize in SBA Loans. If you want to send me details on the deal I see if we can make it work. On most SBA Purchases we are around 80% LTV, borrower would need 20% down. Below is my contact information. Have a good day today.....

 

Antoine Anderson

Commercial Loan Consultant

P: 888-268-7778 Ext 3

F: 510-201-5991

[e-mail]

www.southendcapital.com