Transactions included a $4.9 million SBA 7(a) financing for the expansion of an aesthetic and wellness spa, a $350,000 SBA credit line for a freight logistics company, 0% down equipment financing for a long-haul trucking co. to purchase a new truck, a $186,359 employee retention credit refund, and more…
Thank you to all our clients and partners that helped make 2022 a banner year! We’re ready to fund even more in 2023—are you? As one of the nation’s top direct lenders and tech-enabled loan marketplaces—we’re able to offer the most competitive business, equipment, and real estate financing options available.
As one of the nation’s top equipment lenders and tech-enabled loan marketplaces—we’re able to offer the most competitive equipment financing options available.
South End Capital a division of Stearns Bank N.A., a nationwide commercial lender and tech-enabled business, real estate, and equipment finance platform, has come to the rescue of small business owners seeking an economical alternative to costly merchant cash advances. In addition to affordability, the ease of South End’s program is what makes it appealing—as often no tax returns, hard collateral, or financials are required and funding can be delivered via a streamlined application process in hours.
“South End Capital, a division of Stearns Bank in St. Cloud, Minnesota, is rolling out a nationwide Small Business Administration small-dollar Express loan product, promising to fund loans up to $25,000 within days, perhaps hours…”
South End Capital a division of Stearns Bank N.A., a nationwide commercial lender and tech-enabled business, real estate, and equipment finance platform, has announced its innovative new SBA Express program that enables businesses access to affordable working capital financing up to $25,000 in hours.
We directly funded this $2,745,000 Dairy Queen® franchise start-up and construction loan with a 6.25%, 3-year fixed rate, and 25-year amortization. We directly funded this working capital loan with a 10% rate in 7 days, and required no financials and only a few documents.
Through the 7(a) program, Grayson added, funds can be used for expenses like the purchase, refinance, renovation or ground-up construction of commercial real estate. Funds can also be used for expenses like working capital, equipment, inventory, partnership buyouts, debt consolidation, business purchases, leasehold improvements, expansions and more.
Loans usually range from $25,000 up to $5 million, Grayson said. The rates can be fixed, but most lenders offer an adjustable rate, adjusted quarterly.
Commercial mortgage terms vary greatly, especially because they cover other types of loans. According to Grayson, terms can range from a one-year interest only loan to a 30-year fixed mortgage. Interest rates also vary and can start as low as 4% or as high as 12% or more.
…With smaller loans, “a preferred SBA lender may rely on other data points beside net income, such as [small-business credit scores], time in business, business credit and repayment history — and gross income — to determine eligibility,” Grayson said.
As one of the nation’s top equipment lenders and tech-enabled loan marketplaces—we’re able to offer the most competitive equipment financing options available. Featured financing: We directly funded this 3-year term, 0% down payment freight truck purchase. We paid the referring partner an $8,000 referral fee.
Other lenders may be tightening guidelines but we’re adding more programs to help meet your financing needs! 25-year fixed commercial real estate financing up to 90% LTV for various property types, from $25K to $20M+, with rates from 5% (30-year fixed loans are available for investment residential property).
As one of the nation’s top commercial lenders and tech-enabled loan marketplaces—we’re able to offer the most competitive real estate and business financing options available. We directly funded a $2,530,000, 75% LTV, 6.75% rate, 25-year amortized SBA 7(a) loan to finance the purchase of a bar and lounge.
As one of the nation’s top equipment lenders and tech-enabled loan marketplaces—we’re able to offer the most competitive equipment financing options available. Featured financing: We directly funded this 4.58% rate, 5-year term, 0% down payment equipment purchase with a delayed payment.
As one of the nation’s top equipment lenders and tech-enabled loan marketplaces—we’re able to offer the most competitive equipment financing options available. Equipment financing is available for most industries with rates starting in the 4% range, and with terms out to 7-years.