Up to $16 Million

REFG has successfully arranged long term real estate acquisition and construction financing for many businesses at competitive terms and rates using this program.

Use of Funds

• Purchase, construction and renovation of commercial, industrial, or retail business owner occupied commercial real estate
• Can be combined with major equipment purchase
• 51% of space must be business owner-occupied

Loan Structure
• Up to 65% LTV first mortgage on General Purpose Property
• Up to 50% LTV first mortgage on Special Purpose Property
• 25% to 40% LTV SBA 504 second mortgage
• Minimum 10% down payment

Terms and Interest Rates

First Mortgage

• 15, 20, or 25 year loan terms
• All loans are fully amortized (no balloon payments)
• Fixed rates available for the life of loan
• Variable rates based on Wall Street Journal published Prime rate
• Other indices available based on Treasury and FHLB yields

Second Mortgage

• 20 year loan term, fully amortized (no balloon payment)
• Fixed rate for life of loan determined at time of SBA 504 debenture sale