Small Business Resource Associates recently facilitated the packaging, approval, closing and sale of an SBA 7(a) loan for a community bank resulting in a record premium of 18.955%. The loan amount was $418,600 and the proceeds were used to refinance debt and purchase real estate and equipment for an established commercial contractor. Terms were 25 years fully amortizing at Prime + 2.75% floating and the bank will earn immediate fee income of over $45,000 plus 1% annually for servicing and interest on the unsold portion.
For the past six months we have seen a steady increase in premiums for 7(a) loans sold in the secondary market and we believe that trend will continue well into 2013. We are ready to assist you in becoming a leading SBA lender in your market.