Can I get an SBA 504 Loan to Purchase Real Estate and an SBA 7a for Working Capital?
Can I get an SBA 504 Loan to Purchase Real Estate and an SBA 7a for Working Capital?
Beau, I am looking to buy a warehouse for my remediation company. My understanding is that I can only finance the real estate with the SBA 504. I also want to purchase more inventory, hire some more employees, and get some working capital.
I have been in business for 6 years and should have sufficient cash flow & income. Walk me through your recommendations.
Thanks in advance,
Jimmy
Timestamps
[00:45] Potentially get 90 percent of financing with SBA 504
[00:51] Do you need to hire more people, more inventory, and equipment?
[01:02] Can you do a 504 with a companion 7a or some working line of credit?
[01:14] Get an SBA 504 Loan based on you as the guarantor and borrower
[01:23] What do they want to see on the sources and uses of the loan?
[01:29] Prepare a breakdown of where the money is going to go
[01:33] The money is going to be utilized quickly
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💥 Thanks for watching 💥
#SBA #SBA504 #SBA7a #sbaloans
About Beau: Beau Eckstein is a real estate entrepreneur, TV personality, and commercial mortgage advisor, specializing in construction financing and multifamily lending.
🎥 The video interviews we do on IFP will help you scale your real estate business and learn how to finance your all your projects.
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