Amplio recently launched an internal loan program, designed to expand options for small businesses and their bankers. Through this program, Amplio offers two types of loans – built around the U.S. Small Business Administration 504 loan program.
Gap Loans
When borrowers are seeking an SBA 504 loan from us and need to finance a portion of their equity contribution, we can often assist with a gap loan. Gap loans come in handy when a borrower needs to retain cash for expansion, there is a larger equity requirement, or an appraisal shortfall exists. Gap loans are available between $10,000 and $100,000.
Second Lien Loans (SBA 504-like Loans)
Occasionally, owner-occupied commercial real estate or capital equipment projects are not good fits for the SBA 504 loan program. For example, the operating business may not occupy 51% of the real estate or might not be a qualifying business type.
In cases like these, where the project fits the spirit of the program, Amplio can often step in and provide the second lien loan directly. We can provide up to $150,000 in second lien financing for these projects.
We created these internal loans to better serve lenders and borrowers, to make non-traditional financing more broadly available, and to help more businesses create more jobs. Give us a call to learn more about these loans.
