We'll Leave the Lights On!
Business as "Unusual"

By now we all know what is happening with the government shutdown, and as you might expect it is having an impact on the SBA loan process as it relates to SBA loan approvals, third party reports, loan changes (post-approval but before closing), and anything else therein that requires agency approval.

With that said, however, we continue to process SBA loans (both 7a and 504) knowing that sooner or later they will get through to the other side!  Any loan we submit to SBA will be in the "queue" and will be ready to be processed by the SBA once the doors are open, the lights are back on, and the shutdown is over!  Let us know if you have the opportunity for an SBA loan of any type with which we can help you or your clients.  Though the process may be longer due to these circumstances, I can assure you that we have our lights on and are continuing to work hard for all of you!

Spirits Up!

In 2011, I was introduced to Gary Gordin and his wife, Ramona, who were looking to purchase a business located in Southaven, MS.  Fast forward to 2013, and after nearly two successful years with that business under his belt, Gary was looking for another venture he and his family could run.

Gary and Ramona had the opportunity to purchase Caesar's Wine & Liquor in Arlington, TN, just outside of Memphis and not far from their home.  This 8,000 SF retail wine and liquor store houses some of the rarest wines you can obtain and has one of the largest selections of spirits to be found in the southeast.

Next time you are near Memphis, look them up and stop in to browse around!  You will be amazed at the variety they carry.

We are proud to say that this was approved and closed with an SBA 7(a) loan to finance the real estate purchase as well as the business assets.

If we can be of servide to you, your clients, or your friends, please do not hesitate to contact us!

Are SBA Loans Less Attractive As Rates Move Up?

SBA Loans offer borrowers long term fixed rates that cannot be obtained through conventional bank or lending channels that business owners would generally see as the alternative.  But with rates increasing are SBA loans still advantageous over conventional loans?

That answer is a resounding, yes!  True, rates are moving up, but think about this.  The SBA Loan programs do not have balloons so as a small business owner you manage your business, not your loan every few years.  With terms out to 20 years on a 504 and 25 years on 7(a) loans and financing up to 90%, the time is still right for an SBA Loan to fuel your dream!

Alliance Capital continues to leverage our relationships to provide our clients the most efficient processing and competitive pricing available in the market.  The SBA 504 rates for the month of September are as low as 4.85% for the ten year fixed rates and 5.44% for the twenty year fixed rates.  These rates reflect the SBA or second mortgage side of the loan.  The SBA 504 loan is a participating loan that allows up to 90% financing, the lender makes the first mortgage loan at 50% of the project cost and the SBA helps fund the second mortgage at up to 40% of the project cost.  The first mortgage rate is set by the participating lender, while the second mortgage rate is a combination of the actual note rate and the applicable servicing fees.  The SBA 504 loan is designed for the purchase, construction or renovations of owner occupied commercial real estate or the purchase of equipment with a long useful life.  Call today to take advantage of rates while they still remain at favorable levels.  We all know this won't last forever!
  
Specializing in loans offered through
the U.S. Small Business Administration
Sam Renta, President
Alliance Capital Corporation
200 Office Park Drive, Suite 220, Birmingham, AL 35223
205.837.7900 (C)
205.982.7900 (O)
877.415.9180 (F)
srenta@alliancecapitalcorporation.com
SBA 7(a), SBA 504, and USDA B&I
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