     
| Fidelity Mutual Mortgage SBA 504 Loan Program |
Loan Purpose:
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Real estate and fixed asset purchase including – business acquisition, business expansion, construction, partner buyout, start-ups, turn-arounds, and machinery and equipment.
Program is available nationwide to a variety of industries.
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Property Types:
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All property types
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Loan Amount:
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BLX Loan – up to $3,000,000 – First mortgage loan, or approximately 50% of project cost.
CDC Loan – up to $2,000,000 – Second mortgage loan, or approximately 40% of project cost. Loan may be higher under specific circumstances.
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Interest Rate:
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Variable and fixed interest rate.
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Loan Term:
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BLX Loan – Up to 25 years, fully amortizing
CDC Loan – Up to 20 years, fully amortizing
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Prepayment Penalty: |
Declining scale
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Collateral:
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BLX Loan – First mortgage on business real estate, UCC filings on machinery and equipment.
CDC Loan – Second mortgage on business real estate, machinery & equipment, and other collateral where appropriate.
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Personal Guarantee:
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Full guarantee of all principals who own 20% or more of the project.
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Loan to Value (LTV):
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Up to 90% |
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