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| WELLS
FARGO BANK, N.A. |
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| Small
Business Administration Lending |
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| SBA
7A vs. SBA 504 Comparison vs. Conventional Fixed |
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| SBA
7(a) loan scenario |
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SBA
504 loan scenario |
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Conventional
fixed rate loan scenario |
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| (90%
Loan to Value) |
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(90%
Loan to Value) |
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(75%
Loan to Value) |
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| Project amount: |
$1,800,000 |
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Project Amount: |
$1,800,000 |
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Project Amount |
$1,800,000 |
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| Loan amount: |
$1,620,000 |
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Wells Fargo loan amount: |
$902,340 |
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Loan amount: |
$1,350,000 |
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| Amortized over: |
25 yrs |
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SBA loan amount: |
$721,872 |
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Amortized over: |
20 yrs |
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| Due In: |
25 yrs |
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Amortized: WF 1st DOT |
20 yrs |
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Due In: |
3 yrs |
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Amortized: SBA 2nd |
20 yrs |
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| SBA 7(a) interest
rate*: |
5.250% |
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Wells Fargo interest rate** |
5.650% |
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***3 yrs year interest rate: |
5.650% |
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| Variable |
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SBA 504 interest rate: |
5.530% |
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** repriced every 3yrs fixed |
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| Monthly payment: |
$9,708 |
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Monthly payment: |
$11,262 |
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Monthly payment: |
$9,401 |
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| Cash down payment |
$180,000 |
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Cash down payment |
$180,000 |
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Cash down payment |
$450,000 |
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| Estimated
Cost Summary |
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Estimated
Cost Summary |
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Estimated
Cost Summary |
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| SBA 7(a): |
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Wells Fargo & SBA: |
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Wells Fargo : |
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| Guaranty Fee |
$0 |
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Wells Fargo loan fee |
$9,023 |
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Loan Fee |
$13,500 |
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| Other Fees/Credits |
$0 |
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CDC preparation fee |
$0 |
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Other Fees/Credits |
$0 |
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| Packaging Fee |
$1,000 |
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SBA 504 loan CDC fee |
$4,680 |
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| Out of pocket costs: |
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Out of pocket costs: |
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Out of pocket costs: |
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| Title Insurance |
$1,000 |
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Title Insurance |
$1,000 |
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Title Insurance |
$1,000 |
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| Appraisal |
$3,500 |
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Appraisal |
$3,500 |
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Appraisal |
$3,500 |
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| Environmental |
$1,500 |
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Environmental |
$1,500 |
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Environmental |
$1,500 |
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| Survey, if necessary |
$0 |
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Survey, if necessary |
$0 |
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Survey, if necessary |
$0 |
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| Filing/Misc. |
$500 |
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Filing/Misc |
$500 |
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Filing/Misc |
$500 |
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Legal |
$2,500 |
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| Total Fees: |
$7,500 |
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Total Fees: |
$22,703 |
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Total Fees: |
$20,000 |
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| Cash out-of-pocket |
$187,500 |
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Cash out-of-pocket |
$202,703 |
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Cash out-of-pocket |
$470,000 |
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| SBA
7(a) Loan Specifics: |
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SBA 7(a) Loan Specifics: |
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Conventional Loan
Specifics: |
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| 10 % Down Payment |
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10% Down Payment |
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25% Down Payment |
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| 25 Year Amortization |
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Longer fixed rate
options [20/20] |
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Longer fixed rate options |
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| No Balloon Payment |
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Balloon Payment
Options Available |
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Balloon Payment
Options Available |
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| Limited
Prepayment Penalty |
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Prepayment
Penalties Apply |
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Prepayment
Penalties Apply |
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| Close in 30 - 45 days |
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Close in 60 - 90 days |
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Close in 30 - 45 days |
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| Fees can be financed |
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Fees can be financed |
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One Loan Closing |
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| MUCH
easier process - 1 lender vs. 2 |
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Two Loan Closings |
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| ·
A Bank loan commitment will only be offered
subject to applicant meeting all SBA and/or Bank conditions and
requirements. |
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The above figures are for information purposes
only and are subject to change. |
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