Yesterday was another standoff in Washington and the shutdown lives on. Life in the real world continues, although I know many of you have deals that have been impacted and stopped dead in their tracks because of this impasse.
That said, Fountainhead is funding SBA 504 loans, well, basically we are. If you go to www.sba.gov, it’s closed. You won’t/can’t get an SBA authorization right now until the government re-opens and even then, it’ll take weeks for them to get through the backlog.
But, we’ve already closed unauthorized 504 loans – several times, in fact — meaning there’s no official SBA Authorization in place, but deals need to close. Our experience has taught us what deals will get authorized (and what won’t), so we’re not fearful to take on that minor risk, unlike many others, on behalf of you or one of your clients.
Fountainhead is funding conventional loans, too. We can still close your deal, alternatively, with our conventional loan product as well. We will move quickly with our under two-hour approval process using our online, AI software Pronto and make sure you and those you know can move forward as planned.
If you have a deal hung-up by the shutdown and an imminent closing deadline, like numerous others I’ve spoken to this week, please call or email me immediately to discuss. Don’t wait another moment… we all need to do right by our business owner clients.
A reminder of what Fountainhead can do for you.
Click through the program links above for the large number of properties on which we lend. Our financing options include purchases, refinancing (with cash out), renovations, and ground-up construction.
Call or email me anytime to discuss how your business or the companies of those you serve could grow by owning instead of leasing their commercial real estate.