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    4 Replies Latest reply on Dec 19, 2011 5:09 PM by chris1985

    SBA 7a Loans

    Jamulian Wayfarer

      Hello-

      I want to get a SBA 7a loan to start my business.  The loan would be to purchase some buildings that are on US Forest Service land.  The land is leased from the Forest Service.  Does anyone know if I can get a loan for buildings on leased land?

       

      Thanks.

        • Re: SBA 7a Loans
          CorpCons08 Ranger

          Jamulian,

           

          There is lending available for purchasing buildings on leased land. The criteria for such a loan is typically a lot higher, but then again, so are the maintenance costs and administrative fees typically. Is this a lease to own, or are you purchasing the building out right?

           

          Regards,

           

          Dan

          • Re: SBA 7a Loans
            chris1985 Tracker

            Hello Jamulian, I work in our National SBA department at our bank. The criteria might be higher as Dan said. If you want to contact me, my work info is in my Bio on my profile.

              • Re: SBA 7a Loans
                Jamulian Wayfarer

                Hi Chris-

                I looked at your web site.  What do you think about one of your USDA Rual Development loans?  These assests are on public lands.

                 

                thanks.

                  • Re: SBA 7a Loans
                    chris1985 Tracker

                    That might be something we are interested in. Couple questions; what state are you doing this in? Also, we would need to clarify a few things about the Leasehold Mortgage. I have checked into this a little more today too as it's not something I have a lot of experience with on the US. Forest Service. It sounds like it might be something similar to airport properties. I think the key question would be as I said above about the leasehold mortgage. If you want to email me at my work email that might be easier as I don't always get around to checking this site. Thanks