- June 5, 2019
- Posted by: Michael Meyer
- Category: commercial mortgage
Northeast Financial of Connecticut, which is a small balance commercial mortgage broker, is excited to announce that it is now offering U.S. Small Business Administration (SBA) 7(a) loans. This new endeavor (SBA Mortgage Loans) will be done through Northeast’s partnership with one of the largest Commercial Mortgage Wholesale outlets in the country.
Northeast Financial is a leading provider of commercial mortgage loans in New England and the East Coast. Particularly to those who may have been turned down elsewhere due to limited credit history or other challenges specific to small businesses. With the SBA 7(a) loan program, Northeast Financial will now be able to offer borrowers government-backed loans of up to $5 million. Furthermore, with their commercial mortgage partnership, Northeast can provide borrowers with a streamlined application process.
The SBA mortgage product complements Northeast’s product offering by allowing for a larger loan size of $5 million and a loan-to-value ratio of 90 percent with similar terms and rates as the company already offers through other commercial mortgage broker programs. Traditionally, Northeast has focused on smaller loans of $25,000 to $1 million. This new product allows Northeast to serve as a one-stop-shop for anyone seeking commercial mortgage financing.
Northeast has worked for more than 10 years with small business owners to find solutions to meet their unique needs and challenges. By adding SBA 7(a) loans to our product offerings, Northeast can now truly work with all their clients every step of the way for all their financing needs.
The pre-approval process is easy. Above all, we will work with you every step of the way during the underwriting process. Please call or email us today to setup a free consultation to talk over your goals.
We look forward to working with you.