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Santa Barbara Commercial Fund
Lending

LENDING

SUMMARY

The Santa Barbara Commercial Fund offers short-term business purpose loans of $500,000 up to $10,000,000, primarily secured by residential and commercial real estate.  We provide our clients with timely & creative lending solutions that allow them to acquire, develop and/or improve their real estate holdings or grow their business.  Financing details (Purpose, Terms, Pricing, Collateral, and Process) are provided below, and we would welcome you to submit a Loan Request/Inquiry for our review.    

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If you are looking for consumer (non-business purpose) bridge financing to acquire a residence that will be owner-occupied, you can apply for a consumer bridge loan through our affiliate business, Broker Kenneth Eric Jacobsen.  Bridge loans are 11 months in term and secured by a 1st Trust Deed on the to be acquired residential property as well as a 1st or 2nd Trust Deed on the residence to be sold.  Contact Info: Kenneth Eric Jacobsen (Broker #02041417, NMLS#1707656 & #1714931) is ken@kj.capital or 805-265-1011. 

PROCESS

  1. Applicant submits loan application.

  2. Loan application is assessed.

  3. Letter of Interest (LOI) with preliminary terms offered to client.

  4. Earnest deposit is required upon acceptance of LOI. 

  5. Underwriting & due diligence is performed on completed loan application.

  6. Final loan approval & documentation & recording of necessary security instruments.

  7. Funding of Loan. (Within 30 business days of approved loan application).

PRICING

PURPOSE

SBCFund is committed to servicing clients’ business financing needs in Santa Barbara and surrounding coastal communities.  Loan purposes may include;

  • Real Estate Acquisition

  • Reposition & Improvement (Minor construction)

  • Bridge  

  • Cash Out

  • Construction & Development

  • Estate planning

  • 1031 exchanges

  • Tenant Improvements

  • Equipment & Inventory Purchases

  • Asset Base Lending

  • Permanent Working Capital

  • Partner Buyouts

  • “All In” borrower costs are typically 10-12% per annum.  Pricing offered is risk-adjusted.

TERMS

  • Up to 75% Loan to Value on Commercial & Residential Real Estate

  • Minimum “Cash In” of 20% of Project Costs on Development Loans. 

  • 6 months to 5 year maturities.

  • Repayment terms are typically interest only monthly payments with balloon payments due at maturity.

  • Loans may have loan covenants/conditions (i.e. Debt Coverage Ratios, Financial Reporting Provisions, etc.)

LOAN INQUIRY

Please fill out loan inquiry form below to submit details on your loan request

COLLATERAL

1st (Senior) Trust Deeds on real property, SBCFund will consider 2nd (Junior) Trust Deeds.  Personal property collateral will require security agreement & UCC-1 Filing. 

  • Non Owner-Occupied Residential (1-4 units for business purpose; spec or income)

  • Multi-Family (4+ units)

  • Commercial Real Estate (Industrial/Warehouse, Retail, Office, Mixed use)

  • Special Purpose (Hospitality, Mini-Storage, Senior Housing, Medical office, Mobile Home Parks)

  • Agriculture

  • Improved or Entitled Land

  • Personal Property (i.e. Acccounts Receivable, inventory, equipment, etc.)

  • Assignment of Life Insurance

Loan Request

LOAN INQUIRY

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