THE OFFICIAL BLOG of the SBA 504 EXPERTS

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SBA 504 Update | February 2015

SBA 504 Update | Feb 2015

About SBA 504 Loans

> Up to 90% loan-to-cost financing for owner-occupied commercial real estate
> Office, industrial, medical, flex, daycare, retail, self-storage, and flagged hotel
> Total project costs up to $15 million
> Less impact on cash flow means greater flexibility for property owners

SBA 504 loans have a three-part structure, which is ultimately beneficial for both our small business clients and for third-party lenders we work with. A typical project has a 50-40-10 structure, and we’re dealing with the total project cost which includes the purchase price of land and/or existing building(s), construction costs, soft costs, closing costs, and equipment. This means our clients’ out-of-pocket costs are kept to a bare minimum.

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SBA 504 is the Smart Choice

SBA 504 is the Smart Choice

We sometimes use the word “SmartChoice” to talk about SBA 504 loans. Maybe you’ve seen it in an email from us, or on our website. Our smartphone app is even called the SmartChoice Commercial Loan Calculator. Well, we’ve come to a decision that calling SBA 504 loans something different is confusing at best and we’re going to use the term SmartChoice a lot less going forward. Here’s some backstory on the matter…

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Two Billion or Bust!

$2 Billion or Bust

As of 12/31/14, we’ve closed loans worth $1.56 billion in total project costs. It’s taken almost 13 years and a lot of hard work by our entire team to get this far. Now we’re setting our sights on $2 billion, and we’re aiming to do it in just two years. Maybe it’s New Year optimism, maybe it’s excitement over our merger with IBERIABANK, maybe we’re just a little nuts (likely), but we’re setting a goal of getting to $2 billion in total project costs financed by the end of 2016…and we’ll need your help.

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Beginning Again

Beginning Again - 2015

Even though January’s almost over already, we still want to wish you a Happy New Year! Time flies when you’re having fun and/or working like crazy on small business commercial real estate loans, and that’s exactly what we’ve been doing. Both things — getting SBA 504 loans closed and having plenty of fun in the process. More on that in a minute. We’ve also been busy getting things ready for our pending merger with IBERIABANK. So far, any changes coming down the pike only look to be positive. We’ll have more resources at our disposal and being part of a larger, publicly-traded (and pretty darn successful) bank will only increase the opportunities for us to work with more small business owners nationwide. We’re excited to join the IBERIABANK family and we’ve enjoyed getting to know the people who make the organization work so well.

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Our Last Blog Post…

Merry Christmas 2014

In all likelihood, this is our last blog post until next year. The holidays are upon us and 2015 is coming quick, whether we like it or not. You should be spending time with friends and family, and wrapping up the year properly…not reading blogs from us about commercial real estate financing. That’s not to say we’re closing up shop until next year. No way. We’re still working on getting SBA 504 loans approved, closed, and funded. We’re still here to help answer any questions you have about smarter commercial real estate financing, 504 loans, commercial construction, or anything else. Make a note, however, that our offices will be closed on December 25-26 and January 1-2.

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