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  #1  
27th March 2016, 01:26 PM
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Citibank SBA 7A Loans

Hey buddy I want some information about Citibank SBA 7A Loans offer to there customers for that will you please get the information about it?
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  #2  
27th March 2016, 01:29 PM
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Join Date: May 2012
Re: Citibank SBA 7A Loans

I will help you here to get the information about Citibank SBA 7A Loans so that you can go through the information easily.

The SBA 7(a) loan, the most common general-purpose SBA loan, offers single and multiple disbursement term and real estate loans.

Use your loan for working capital or to purchase a business, inventory, or land for construction.

Term Loans from $25,000 to $5 million.
SBA LOANS: Up to 20 years on Real Estate; Up to 10 years on Machinery or Equipment.

Terms
Working Capital: up to 7 years.
Equipment: up to 10 years (or useful life).
Real Estate: up to 25 years.

Interest Rates
Fixed or variable.
Terms less than 7 years: NY Prime + 2.25%.
Terms equal to or greater than 7 years: NY Prime + 2.75%.

Fees
SBA Guarantee Fees:
Loans up to $150,000 — 3% of the guaranteed portion of the loan.
Loans from $150,001 to $750,000 — 4% of the guaranteed portion of the loan.
Loans from $750,001 to $5 million — 4.5% of the guaranteed portion up to $1 million and then 3.75% for guaranty
above $1 million.
SBA Packaging Fee: $1,500.
Filing Fees: Minimum of $50.
Processing and Credit report: $575

Underwriting Requirements
Personal guaranties by all owners of 20% or more.
Adequate business collateral, or personal assets securing personal guaranty, i.e. mortgage on a home.
Hazard Insurance.

Financing
Loans less than or equal to $150,000 — SBA provides 85% guarantee.
Loans greater than $150,000 — Guaranteed amount is 75%.

Address:-
CITI Bank
Citibank Centre, 9th Floor, Plot No C 54, 55 & 61, Block G, Bandra East, Mumbai - 400051, Bandra Kurla Complex

Phone:-
+(91)-22-28232265, 28232484
1800222484,1800225555
+(91)-22-26535861


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