SBA and USDA Loans

Omni National Bank offers these services:

• Long term loans for construction, expansion, acquisition and debt refinancing of commercial businesses under the SBA 7(a), USDA Business & Industry (B&I) and SBA 504 loan guaranty programs
• Commercial mortgages for real estate investors
• Loan packaging, participations and sales in secured loan transactions
• Residential mortgage loans for housing rehabilitation and renovation
• A wide range of business loan and deposit products and services

We look forward to tailoring a program for you. Please call Patrick Tracy at (678-244-6356) for more information, or click here to send him an email.

Omni’s Program for Small Business Mortgage Loans

Borrowers: For-profit, well-established small business firms
Eligible Uses: Land and building---only for 60% owner-occupied properties
Amounts: Maximum is $3,000,000; call us for higher amounts
Rate Indexes: 1) Prime rate, variable, monthly reset; 2) Fixed 5 yr. FHLB-Seattle
Margins: 1) Prime + 2.75%; 2) FHLB + 4.00%
Amortization: monthly P&I, re-amortizing, no balloons
Fees: 1% application fee
Collateral: Property and plant, 60% maximum loan to value
Terms: Maximum is 20 years
Prepayment Premium: Yrs. 1-5: 5% flat
Guarantees: Personal guarantees of principals with 20% or more ownership
Equity: Minimum is 20%

Omni’s Program for SBA 7(a) Loans 

Borrowers: For-profit, small business firms
Eligible Uses: Land, building, machinery, equipment, and working capital; only for 60% owner-occupied situations
Amounts: Maximum amount is $2,000,000; call us for higher amounts
Terms & Conditions:
Rate: Prime rate, variable, quarterly reset
Maximum Rate: P + 2.75% over 7 yrs.; P + 2.25% under 7 yrs
Amortization: monthly P&I, re-amortizing, no balloons
Fees: Lender’s fees plus Guaranty fee of 2.00%-3.50%
Collateral: Property, plant, equipment, A/R, Inventory, and Intangibles; sufficient to support credit risk
Terms: Maximums are: 25 years for Land & Building; 10 years for Machinery & Equipment; 7 years for Working Capital; 15-20 years is Preferred Term
Guarantees: Personal guarantees of principals with 20% or more ownership; Corporate guarantees of parent, affiliates and subsidiaries
Equity: Minimums are 10% for existing businesses and 20% for startups

Omni’s Business & Industry Loan Program (B&I)

Borrowers: For-profit companies---small and large
Eligible Uses: Land, building, machinery, equipment, and working capital
Location: Borrower must be located in areas with 50,000 or less population
Amounts: Maximum is $10,000,000; Preferable amount is under $ 5 million
Rate: Prime rate, variable, monthly reset, negotiable margin
Amortization: monthly P&I, re-amortizing, no balloons
Fees: Guaranty fee of 2%; plus negotiable application fee
Collateral: Property, plant, equipment, A/R, Inventory, and Intangibles
Loan to Value: Maximums: 75% real estate; 65% equipment; 85% accounts receivable; 50% inventory
Terms: Maximums are: 25 years for Land & Building; 10 years for Machinery & Equipment
Guarantees: Personal guarantees of principals with 20% or more ownership
Credit Criteria--Equity: Minimums: 10% existing businesses; 20% for startups
Debt Service Coverage: Minimum 1.0x, pro-forma basis

Note: Terms are not all-inclusive and are subject to change without notice.