This company has requested a revolving warehouse line of credit that will be used to fund guaranteed and non-guaranteed portions of SBA 7(a) Loans. They have also requested that GCL work with GNCU, in addition to other CUs and Community Banks to participate SBA 7(a) and 504 loans (guaranteed and non-guaranteed portions alike). Participation with this company will also provide GCL/GNCU with opportunity to share in the premium derived from the sale of the guaranteed portions of loans advanced against this facility. The requested credit facility will be monitored and controlled by covenants, a borrowing base certificate, and will be further restricted to the advance rates on individual loans as follows below:

*Up to 55% advance rate towards the non-guaranteed portion(s) of SBA 7(a) loans (determined by loan amount divided by collateral value vs. sponsor’s project equity) and up to 95% advance rate on guaranteed portion(s) of SBA 7(a) loans.

**3-month Treasury Constant Maturity Rate +025%, adjusted monthly

Loan ID 0135
DSCR 2.13
LTV N/A
Note Rate N/A
Property Location FL
NAICS 522298
Guaranty Type None
Loan Term 2 yrs
Rate type Var
Note date 12/16/2020
Maturity date 12/16/2022
Participation Availability Amount $11,666,667
Minimum Participation Amount $2,000,000
Original Loan Amount $25,000,000
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