Loan Programs

Borrower Benefits:

  • Low down payment of only 10%
  • Long repayment terms – reducing monthly payments
  • Frees up cash flow to expand your business
  • Many rate options including long term fixed rates
  • Associated fees and soft costs may be financed in the loan

Loan Amounts:

  • Up to $10,000,000

Use of Proceeds:

  • Purchase, refinance, construction, or renovation of owner-occupied commercial real estate
  • Purchase and installation of long-life machinery and equipment

Standard Loan Structure:

  • 50% financing - first mortgage from BankUnited Small Business Finance
  • 40% financing – SBA 504 second mortgage (provided through a local Certified Development Corporation)
  • 10% minimum down payment by the borrower (15% in the case of special use properties)

Terms:

  • First mortgage
  • Up to 30 years, fully amortized
  • Competitive rates
  • Prepayment penalty applies and is set based on various factors
  • Second mortgage
  • 20 year, fully amortized
  • Fixed rate is determined at SBA-guaranteed 504 debenture sale
  • Fees set by Certified Development Corporation
  • Prepayment penalty for initial 10 years, none after the end of year 10

Pre-Screen:

  • Pre-screen service available within 24 hours with no charge or obligation by providing limited information