Midessa Business Lending
Midessa Business Lending is a Commercial Lending Broker in the Permian Basin area.
Partnering with over 40 lending partners, Midessa Business Lending provides consulting, deal structuring and resources to help businesses succeed.
Call us at (432) 614 - 4223
Economic Stimulus Loans for Businesses
SBA EIDL (Emergency Injury Disaster Loan) - For Existing Businesses (Feb. 15, 2020)
- Deferred Payments: No payments for 18 months
- Loan Amount: $150,000 to $500,000
- Rates: 3.75% Fixed
- Terms: 30 Year Term / 30 Year Amortization
- Prepayment: No Prepayment
- Uses: Payroll, Utilities, Rent/Lease, Interest on Mortgage (Commercial) Loans, Accounts Payable and Operating Expenses
The Economic Aid Act has unlocked stimulus for new SBA 7(a) borrowers, including:
- P&I payment relief up to $9,000/month for the first six months - This NEVER has to be repaid.
- Waived SBA Guaranty Fees - This dramatically reduces the closing costs on all Q2 loans.
- A 90% Guaranty on all SBA loans approved starting in February 2021.
Get in touch with us to learn more about how the new stimulus will benefit your business for loans up to $5 million for Commercial Real Estate, Equipment, Business Acquisitions, Partner Buyouts and/or Debt Restructuring.
SBA 7(A) - FOR ALL OWNER-OCCUPIED BUSINESSES
Loan Amount: $1,000,000 to $5,000,000
Rates: Prime + 2.25% to 2.75% Variable
Terms: 10 to 25 Year Term / 10 to 25 Year Amortization
LTV: 75% to 90%
Prepayment: Real Estate 5/3/1 – No Prepayment with <15-year Term
Uses: Business Acquisitions, Refinance, Working Capital, Equipment Purchases, Construction and Debt Consolidation
SBA 504 - FOR ALL OWNER-OCCUPIED BUSINESSES
Loan Amount: $500,000 to $5,000,000
Rates: Starts in mid 2’s for SBA Portion + Banks Rate (Variable/Fixed 1st)
Terms: 10 Year Term (1st) / 20 to 30 Year Fixed Term & Amortization
LTV: 80% to 90%
Prepayment: Declining Prepayment Penalty
Uses: Fixed Asset Purchase of Real Estate or Equipment, Construction, Refinance of debt > 2 years
SBA EXPRESS - FOR ALL OWNER-OCCUPIED BUSINESSES
Loan Amount: $100,000 to $150,000
Rates: Prime + 2.25% to 2.75% Variable
Terms: 10 Year Term / 10 Year Amortization
Prepayment: No Prepayment
Uses: Working Capital and Equipment Purchases
USDA - B&I - FOR INVESTOR AND OWNER-OCCUPIED BUSINESSES
Loan Amount: $5,000,000 to $25,000,000
Rates: Start at Prime + 2.75 (Variable and Fixed Pricing Available)
Terms: 20 to 30 Year Term / 25 to 30 Year Amortization
LTV: 75% to 80%
Prepayment: Declining Prepayment Penalty
Recourse: Yes
Uses: Acquisition, Refinance, Expansion
Other: Towns with < 50,000 in Population & Investor properties are OK
