Commercial real estate lender financing deals with pending SBA authorizations
Fountainhead Commercial Capital today announced that it is helping small business owners with pending U.S. Small Business Administration (SBA) authorizations to close commercial real estate transactions that are stalled by the government shutdown. The SBA has been closed since Dec. 22, leaving many business owners in limbo while hoping to close on commercial real estate deals with impending deadlines. Fountainhead is offering interim financing at competitive rates and terms so that small business owners can close deals which might otherwise be abandoned.
“Many small business owners have put down deposits, paid for appraisals, and spent other funds on deals which will fall apart if not finalized soon,” said Chris Hurn, CEO of Fountainhead. “The shutdown has paralyzed many real estate deals, so we are offering a way to get transactions completed now and then authorized later by the SBA. This isn’t something most federally-insured commercial lenders will offer, but with our significant experience in SBA 504 lending, we’re willing to take this minor risk and help-out America’s small business owners.”
Fountainhead specializes in SBA 504 loans for commercial real estate but also finances low loan-to-value conventional real estate loans. Having worked with the SBA for decades, Fountainhead executives understand the agency and the typical parameters for SBA 504 loan authorizations. Hurn also welcomes any business owner who is struggling with a commercial real estate transaction affected by the shutdown.
“We know that business owners have a lot questions and, unfortunately, not enough answers regarding the SBA,” said Hurn. “We will do our best to help any small business owner finalize these vital deals. We can have decisions for them within hours of receipt and close them within days.”
Fountainhead Commercial Capital, a nationwide, nonbank, direct lender specializing in the SBA 504 loan program and low loan-to-value conventional loans, was founded by some of the most experienced and awarded SBA lenders around. The company’s FastTrack504 program enables banks, credit unions and other intermediaries to fully outsource SBA 504 and conventional loans for owner-occupied commercial real estate. The company’s AI-enabled, Pronto, online loan automation and evaluation tool, can issue commercial real estate loan approvals in less than two hours.