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Need Home Mortgage in Orlando Florida ?
FHA - VA - Conventional - HomePath - Jumbo Loan Reverse Mortgage - SBA
Licensed Mortgage Lender since 1990
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Please complete the following required information before continuing.
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We specialize in loans for Medical and all Businesses.
Loans for the purpose of business acquisition of a professional practice including Medical Doctors, Dentists, Chiropractors, and all Veterinarian practices. This type of loan can be provided with minimal cash equity investment. Below are some of the services we can provide you with. - Startup Practices
- Business Acquisitions
- Partner Buyouts
- Medical Office Expansion
- Equipment Purchase
- Office Renovation or Relocation
- Own Your Office versus Lease
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| SBA 7(A) Loans
Orlando Financial Center offers the SBA 7(A) loan program. The SBA 7(A) program is the SBA's most popular and flexible business loan program providing financing for a variety of business purposes. Many small business borrowers have utilized this program to take advantage of loans providing a low down payment, long term financing and a flexible use of proceeds with minimal to no pre-payment penalties. Typical loan sizes range from $250,000 to $2,000,000. |
| - 100% financing available for partnership buy-out
- 75% - 90% financing available for new buyers (10% seller note on standby)
- 90% financing available when done in conjunction with a seller note (10% injection required from borrower)
- Equity injection can come from Home Equity Line of Credit if covered by outside source of income
- 10 year term, more if Real Estate is part of the financing
- Loan amounts from $250k - $2M – 100% Goodwill
- Can include working capital
- Can include new equipment
- New buyer should have direct or related experience
- No bankruptcies in the past 7 years and no judgments in the past 2 years
- Positive trends, no significant concentrations
WHAT DO WE NEED FROM THE BUYER? - Complete loan application
- Personal tax returns for the last 3 years.
- Detailed resume showing direct or related experience
- Business tax returns and financial statements, if the borrower owns other businesses
WHAT DO WE NEED FROM THE SELLER? - Description of business
- Copies of accounts receivables and accounts payables
- Equipment list
- Copy of existing lease agreements
- Detailed evidence of all exceptional add backs
- Legal description of real estate, if real estate is part of loan
- Copy of the purchase agreement with an allocation of the purchase price
- Seller’s tax returns for 3 years and interim financials (profit and loss statement and balance sheet)
FOR MORE INFORMATION ON HOW TO OBTAIN AN SBA LOAN CONTACT EDDIE FERNANDEZ AT 407-839-6060 |
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