We’re happy to announce that Corbin Dangerfield has joined Grandpoint Bank’s Government Guaranteed Lending Department as a business development officer. Corbin will be responsible for marketing and originating government guaranteed loan products for Grandpoint Bank.
Grandpoint offers a variety of government guaranteed loan products that provide alternatives if a traditional credit product is not well suited for a small or medium-sized business. These include loans through the SBA, USDA and Export-Import Bank of the U.S. These government-backed loans require less cash investment up front and offer longer loan terms than conventional loans.
“Government guaranteed loans can help bridge the gap for businesses that otherwise would not have access to capital,” said Leticia Scearce, Senior Vice President/Government Guaranteed Lending Manager. “Corbin has specific expertise in this type of lending, and we’re happy to have him join our team of professionals.”
Corbin served in the same capacity previously for Meadows Bank in Las Vegas. His experience also includes serving as a vice president and business development officer at Lehman Brothers and as a commercial real estate broker at NAI Commercial Real Estate.
“Many SBA loans are made in support of real estate investments,” said Corbin. “My experience as a real estate broker combined with my expertise in banking and finance is especially helpful to my clients, regardless of the type of government guaranteed loan that suits them best. In my new position, I’m excited to offer clients the full resources and capabilities of Grandpoint’s government guaranteed lending team.”
Another reason Corbin wanted to join Grandpoint’s SBA/Government Guaranteed Lending Department was to be part of a team that can fund qualifying loan applications at the pace business moves.
“I also appreciate that our team understands larger, more complex deals, and that we are able to offer the whole array of Government Guaranteed Lending programs, not just the 7a and 504 loans.”
When he’s not working, Corbin enjoys outdoor recreational activities, especially when it’s with his kids.
We’re glad to have him on board, and we hope Corbin may be of service to your business if you’re considering a government guaranteed loan.
The SBA Debt Refinance Program is back! Does your small business have a maturing or high-cost conventional loan for real estate, buildings or equipment? The long-term, fixed rate financing available through the SBA Debt Refinance Program can help small businesses that face significant balloon payments, require financial flexibility or want to take cash out from appreciating assets for expansion.
Under the new program, small businesses that refinance into a SBA 504 loan can take advantage of lower rates, fixed for 20 years, to lighten their monthly debt payments, improve cash flow and stabilize operations.
These parameters can help determine whether this program might be a good fit for your business:
- The debt to be refinanced must be at least two years old.
- The debt to be refinanced must be current during the last 12 months.
- Eligible small businesses can obtain up to 90 percent financing for secured debt and qualified business debt.
- Eligible fixed assets include real estate and equipment.
- Cash out for operating expenses, including debt consolidation, is limited to 75 percent loan-to-value.
- Cash out can be used for eligible business expenses (salaries, rent, utilities, inventory).
- Existing government guaranteed loans are not eligible to be refinanced.
- The eligible debt being refinanced is for the outstanding principal balance.
Other conditions or qualification requirements may apply.
For those considering applying for a new loan, we offer a variety of government guaranteed loan products that require less cash investment up front and offer longer loan terms, which can help bridge the gap for businesses that otherwise would not have access to capital.
- SBA 7(a), 504 and 504 refinance
- SBA Export Express Export Working Capital International Trade
- USDA Business & Industry Loans Food Desert Rural Energy for America Program (REAP)
- Export Import Bank of U.S.
If you would like more information on the SBA 504 Refinance Program or any of our government-guaranteed loan products, please contact Leticia Scearce, Senior Vice President/Government Guaranteed Lending Manager, at email@example.com or (602) 445-6511.