Sep
07
Q&A with Alexander Cohen, Liberty SBF
ByThe top executive discusses the benefits of the SBA 504 Refinance Program for small-business owners in this tight lending environment.
Alexander Cohen, CEO of Liberty SBF
In June, Liberty SBF announced it received $75 million in its Series B round of funding and expanded its credit facilities with Capital One Bank. This comes a few months after the government approved legislation to permanently reinstate the SBA 504 Refinance Program, which is designed to provide small-business owners with more options to refinance eligible fixed assets, including real estate. Alexander Cohen, founder & CEO of the commercial lending company, talked with CPEabout how the company is benefiting from the program through its own SBA 504 Wholesale Program and the newest trends in the real estate lending arena.
CPE: Tell us about Liberty SBF’s SBA 504 Wholesale Program.
Cohen: Through its SBA 504 Wholesale Program, Liberty SBF is partnering with approved banks, non-bank lenders and other SBA loan intermediaries to originate 504 loans across the country and can pay up to four points of premium to its partners. The key points of the program include that SBA 504 Refinance is now available for eligible loans, our referral partners are able to price their own loans, and there is a 90 percent loan-to-value on purchases and refinances (75 percent for cash-out refinances). Also, Liberty SBF will consider deals that fall slightly outside our credit box…
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