Wells Fargo Bank, N.A. -- SBA Lending SBA 7(a) vs. SBA 504 ...
Wells Fargo Bank, N.A. -- SBA Lending
Lee Kleinman, SVP Phone Number: (818) 385-2703 Cell Number: (818) 378-1325
SBA 7(a) vs. SBA 504 Comparison
Loan Amount: Loan Term: Loan Amortization: Interest Rate:* * Fixed For 25 Years
SBA 7(a)
$643,045 25 yrs 25 yrs 5.05%
Monthly Payment: Breakdown of Project Costs
$3,778
Total Cost Out of Pocket
Project Cost
$700,000
$70,000
SBA 504
Wells Fargo 1st DOT: CDC 2nd DOT:
$353,710 $282,968
Loan Term / Amortization (WF 1st): Loan Term / Amortization (CDC 2nd):
25 yrs / 25 yrs 25 yrs / 25 yrs
Interest Rate (WF 1st Mtg):* Interest Rate (CDC 2nd Mtg): * Fixed For 25 Years
4.70% 4.74%
Combined Monthly Payment: Breakdown of Project Costs
$3,618
Total Cost Out of Pocket
Project Cost
$700,000
$70,000
SBA 7(a) Guaranty Fee
$14,494
$1,449
Third Party Related Costs
$0
Total Project Costs
$714,494
Out of Pocket Cost as % of Total Project
$0 $71,449
10.0%
SBA 7(a) Loan Specifics:
Finance Up To 90% of Total Project Costs Long Fixed Rate Options [25/25] No Balloon Payment Limited Prepayment Penalty Most Loans Close In 30-45 Days
Third Party Costs Can Be Financed MUCH Simpler Process - 1 Lender vs. 2
Debenture Fees Bank Loan Fee
$9,720 $1,750
Third Party Related Costs
$0
Total Project Costs
$711,470
Out of Pocket Cost as % of Total Project
$3,042 $1,750
$0 $74,792
10.5%
SBA 504 Loan Specifics:
Finance Up To 90% of Total Project Costs Long Fixed Rate Options [25/25] Balloon Payment Possible Prepayment Penalties Apply Most Loans Close In 60-90 Days
Most Third Party Costs Can Be Financed Two Loan Closings With 2 Lenders
The above figures are for discussion purposes only and are subject to change. This is not an offer or commitment to lend. All credit decisions are subject to credit qualification
Prepared for: Roy Belson, Director - The Belson Group
March 12, 2019
? 2015 Wells Fargo Bank, N.A. All rights reserved.
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