Mike McGrane is a Business Development Officer for Wells Fargo SBA Lending. Located in Roseville, CA near Sacramento. In my office, I have local access to all the loan officers and closers, which gives me a unique advantage to manage your loan at every phase.
I have specialized in both SBA 7(a) and real estate SBA 504 loans since 1995 for Business Acquisitions and Owner Occupied Real Estate. In my over 14 years in SBA lending, I was an underwriter for 3 years and on the business development side for over 11 years. I also have 6 years experience as a Senior Business Analysis for Dun & Bradstreet, so I know credit and SBA lending. My best programs are for real estate, medical professionals, other professionals, or any other type of business acquisition (with or without real estate) up to $2.0 Million. I shy away from restaurants, unless they have real estate and strong cashflow. I also still offer 90% financing on owner occupied general-purpose real estate.
I can pre-qualify broker listings or seller/buyer inquiries very quickly with a realistic answer. I don't submit a loan to credit unless I firmly believe that it will be approved and closed. Phone me today at 916-300-3470 to pre-qualify your deal or to submit a loan package.
SBA LOAN BASICS
Key Features:
* $200,000 To $2 Million Loan Amounts for SBA (7a)
* $500,000 To $8 Million Loan Amounts for SBA 504
* Low Down Payments
* Up To 25-Year Term, Fully Amortized (30/10 offered on SBA 504)
* High Leverage – Unsecured Business Acquisitions are O.K.
* Fixed and Variable Rates on real estate loans
SBA Eligibility Requirements:
* For Business Purposes (No Personal Loans)
* An Owner Occupied Business (No Investment Financing)
* For Profit Operation
* An Owner or Guarantor with Direct or Transferable Industry Experience
* Profitable Business Over The Last 2 Years (Must Show Stable or Improving Sales & Bottom Line Trends)
* Good Personal Credit
* Loans with Goodwill of other Intangibles over $500,000 are being financed with special treatment.
* Occupancy Requirements For Real Estate Purchases:
Minimum 51% or 60% For New Construction
Use Of Proceeds:
* Business Acquisitions: 15-25% Down (depending on the seller carryback portion)
* Commercial Real Estate: 10-15% Down
* Machinery/Equipment
Phone me today for a loan package or to get pre-qualified for SBA financing on your deals. I work with business brokers, agents, intermediaries, business owner/sellers, and business buyers.
Call 916-300-3470 today for more information about SBA loan financing.
