Select Lender Type
SBA 504 Loan
Long-term, fixed-rate financing through CDC partnership
Processing: 60-90 days
10-25 year term, fixed rate, 10-15% down
New to commercial lending? Click here for a quick reference guide
Key Metrics Lenders Check
- DSCR - Can you afford the payments? (Need 1.25x+)
- LTV - How much are you borrowing vs property value?
- NOI - Your profit before loan payments
- Credit Score - Your personal creditworthiness (680+)
Loan Types Explained
- SBA 504/7(a) - Government-backed, lower down payments
- Bank - Traditional, faster but higher down payment
- Credit Union - Often better rates, membership required
- Private - Highest rates, fastest approval
Tips for Success
- Higher DSCR = easier approval
- Lower LTV = better rates
- Strong NOI projections are critical
- Hover over any icon for help!
Lender Requirements Check
Requirements Need Attention
Credit ScorePersonal Credit Score (FICO)Your personal creditworthiness score (300-850). Most commercial lenders want 680+ for approval. SBA loans typically require 650+. Higher scores get better interest rates.
720
Required: 650.0000
DSCRDebt Service Coverage RatioMeasures your ability to pay the loan. Calculated as: NOI ÷ Annual Debt Payments. A DSCR of 1.25x means you earn $1.25 for every $1.00 of debt payment. Lenders typically require 1.20-1.35x minimum.
1.4x
Required: 1.1500x
Debt YieldDebt Yield PercentageMeasures the lender's return if they had to take over the property. Calculated as: NOI ÷ Loan Amount × 100. A 10% debt yield means the property generates 10% of the loan amount annually. Minimum is usually 8-10%.
10.0%
Required: 0.0800%
LTCLoan-to-Cost RatioThe loan amount compared to total project cost (including improvements). Calculated as: Loan Amount ÷ Total Project Cost × 100. Important for development projects where you're adding value.
65.0%
Required: 0.9000%
LTVLoan-to-Value RatioThe loan amount compared to the property value. Calculated as: Loan Amount ÷ Property Value × 100. An LTV of 70% means you're borrowing 70% and putting 30% down. Lower LTV = less risk for lenders.
70.0%
Required: 0.9000%
Adjust Financial Metrics
Package Sections
Industry Benchmarks Comparison
| Metric | Low | Average | High | Your Value |
|---|---|---|---|---|
| absorption rate(Balanced) | 0.0500percentage | 0.0650percentage | 0.0800percentage | - |
| absorption rate(Competitive) | 0.0300percentage | 0.0400percentage | 0.0500percentage | - |
| absorption rate(Undersupplied) | 0.0800percentage | 0.1000percentage | 0.1200percentage | - |
| average stay months(RV/Boat) | 24.0000months | 30.0000months | 36.0000months | - |
| average stay months(RV/Boat) | 36.0000months | 42.0000months | 48.0000months | - |
| average stay months(RV/Boat) | 18.0000months | 21.0000months | 24.0000months | - |
| cap rate(Development) | 0.0750percentage | 0.0850percentage | 0.0950percentage | 6.0% |
| cap rate(RV/Boat) | 0.0500percentage | 0.0575percentage | 0.0650percentage | 6.0% |
| cap rate(RV/Boat) | 0.0700percentage | 0.0800percentage | 0.0900percentage | 6.0% |
| cap rate(RV/Boat) | 0.0600percentage | 0.0675percentage | 0.0750percentage | 6.0% |