Key takeaways SBA loans have set maximum interest rates, making them a flexible and affordable business lending option. It can take 30 to 90 days for SBA loan approval and funding. Beyond loans, the U.S. Small Business Administration offers mentorship and other programs for small business owners. SBA loans can be a good way to fund working capital and other business expenses if you’ve exhausted other lending options. They are partially guaranteed by the Small Business Administration and designed to be affordable for small businesses. SBA loans often have competitive rates and low down payments, and some loans come with…
Author: Private Lending Agent
Blue Owl Capital has expanded into real estate finance with the acquisition of Prima Capital Advisors for $170m (£134.1m). Prima is a commercial mortgage-backed real estate lender majority owned by Stone Point Capital that manages approximately $10 billion in assets on behalf of institutional and high net worth investors. Blue Owl also announced that Jesse Hom, previously GIC's global head of real estate credit, will join Blue Owl to lead the newly created real estate finance strategy and serve as chief investment officer of Blue Owl's real estate platform, reporting directly to Mark Saal, Blue Owl's co-president and head of…
SBA 504 and SBA 7(a) loans are small business loans guaranteed by the U.S. government and issued by financial institutions, usually banks. SBA 504 loans are used to finance real estate purchases and renovations. SBA 7(a) loans provide working capital to businesses.If you need a loan for something other than purchasing real estate or equipment, an SBA 7(a) loan is the right choice. It can be used for a broader range of purposes, such as working capital or business expansion. Real estate development can be a part of that, but it doesn't have to be.When financing the purchase of real…
Williams Equities has secured a $155 million commercial mortgage-backed securities (CMBS) loan for a 576,000-square-foot mixed-use office property in Manhattan's Chelsea neighborhood. Citi Real Estate Funding provided a five-year CMBS loan that will replace existing debt and fund renovations and amenity enhancements to the building. See also: $235 million loan approved for affordable housing development on Greenpoint Hospital site Simon Ziff and Russell Schildkraut of Ackman Ziff handled the debt negotiations, while Joe Deikman of Citigroup (C) represented the lenders. “We continue to fund great sponsors for our New York City office complex,” Ziff said in a statement. “This sponsorship…
GIC's Jesse Hom named head of real estate finance at Blue Owl NEW YORK, April 9, 2024 /PRNewswire/ — Blue Owl Capital Inc. (“Blue Owl”) (NYSE: OWL), a leading alternative asset manager, today announced it has acquired Prima Capital Advisors (“Prima”) for aggregate purchase price of $170 million to build on Blue Owl's real estate finance strategies. Prima manages approximately $10 billion in assets on behalf of institutional investors and select high net worth individuals. The acquisition is expected to close in the second or third quarter of 2024, subject to customary closing conditions. Founded in 1992 by Gregory White,…
Exploring Idaho's Symbols: From State Flower to Flag Known for its rugged terrain, vibrant culture and rich history, Idaho boasts a variety of symbols that represent the essence and identity of the Jewel State. From our state flower to our state bird to our state flag, each symbol has meaning and speaks to Idaho's natural beauty, history and values. Let's take a closer look at Idaho's state symbols and what they represent to its residents. State flower: Philadelphus Idaho's state flower is the syringa, a beautiful flower with clusters of fragrant white lilac-like blossoms. Syringas symbolize purity, resilience and the…
The Blue Business® Plus Credit Card from American Express gives you 2X points on your first $50,000 in eligible purchases each year (then 1X points). What we think: With a simple reward structure, The Blue Business Plus bypasses the need to navigate complicated spending categories. Additionally, its lack of an annual fee means there’s no expense to “make up for.” Larger businesses may be able to find more value elsewhere, but this card is solid for small businesses. Amex Blue Business Plus offers several business benefits, such as employee cards, QuickBooks® integration and the ability to designate an account manager.…
TAMPA, Fla. — Profits from home flipping have fallen to their lowest level since the 2008 housing crisis, down an estimated 29.3 percent, according to a recent study from ATTOM Data. In Florida, the average investment return from a home flip last year was $64,675. What you need to know: A recent study from ATTOM Data found that profits from home flipping have fallen to their lowest level since the 2008 housing crisis. Nicole Perry said she's been flipping homes for three years now and the market has slowed significantly. The decline is estimated at 29.3%. While prices remain high,…
The Planning Commission rejected a proposal to rezone about 19 acres near Mallory Creek for a 123-unit townhome development. (Courtesy photo) LELAND — The Town of Leland, its residents and developers were divided last month over a rezoning request to convert commercial property to residential use. Read more: City of Leland to consider 70% property tax increase for roads, public safety The Planning Commission on March 26 unanimously rejected a recommendation to rezone 18.85 acres near the Mallory Creek subdivision, where developer Thomas & Hutton plans to build 123 townhouses at the southeast end of Highway 133. The developer had…
A business loan and a business line of credit are different forms of business financing. With a business loan, you receive a lump sum of money that you pay back over time. A line of credit is a pool of money that you can access at any time, up to a limit.Generally, if you need a large amount of capital for a major purchase or expansion, a business loan is the better choice. A business line of credit is good for filling cash flow gaps or raising funds in an emergency.To better understand the unique needs of your business, we'll…