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Mutual of Omaha Bank works in conjunction with the Certified Development Corporation (CDC) in a second lien position.
Highlights of this loan include:
- Loan size - $500,000 to $10,000,000 depending on the type of industry
- Up to 90% loan to value (special purpose entities require additional down payments in conjunction with the Certified Development Corporation-CDC)
- Up to 65% Loan To Value (LTV) on 1st mortgage and up to 40% LTV in a second lien position
- Terms:
1st mortgage up to 25 years
2nd mortgage up to 20 years
- Interest rates are always market competitive
- Qualified uses for an SBA 504 loan include: owner/user real estate and equipment.
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