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The information provided by these calculators is for illustrative purposes only and accuracy is not guaranteed. The default figures shown are hypothetical and may not be applicable to your individual situation. Be sure to consult a BLP financial professional prior to relying on the results.

This calculator does not have the ability to pre-qualify you for any loan program. Qualification for loan programs may require additional information such as credit scores and cash reserves which is not gathered in this calculator. Information such as interest rates and pricing are subject to change at any time and without notice. This calculator does not calculate the Annual Percentage Rate or Average Prime Offer Rates. BLP does not guarantee any of the information obtained by this calculator.

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Special Purpose Properties

SBA requires 15% equity injection into any project property that is considered special purpose. If the loan is the owner’s second SBA loan (7a or 504) for a special purpose property then SBA requires a 20% equity injection into the project. The SBA SOPs define special purpose as “a limited-market property with a unique physical design, special construction materials, or a layout that restricts its utility to the specific use for which it was built.” SBA does provide a list of properties it automatically considers special purpose, below. This list is not all inclusive but a great starting point for making the identification if a property is special purpose. Other triggers could be comments made by the appraiser in the appraisal report.

Special Purpose Properties Include:

  • Amusement parks
  • Car wash businesses
  • Cold storage facilities - more than 50% of total sq ft is equipped for refrigeration
  • Bowling alleys
  • Cemeteries
  • Quarries, including gravel pits
  • Golf courses
  • Farms
  • Railroads
  • Sports arenas
  • Livestock & Dairy facilities
  • Sanitary landfills
  • Swimming Pools
  • Gas stations
  • Service centers w/ pits and in ground lifts (oil and lube, brake or transmission center)
  • Tennis clubs
  • Hotels, motels, & lodging facilities
  • Hospitals, surgery centers, urgent care centers, other health / medical facilities
  • Theaters
  • Nursing homes, assisted living facilities
  • Dormitories
  • Wineries
  • Mines, Oil wells
  • Marinas

If you have any questions on whether your borrower’s property is special purpose give one of our loan officers a call and they can assist you in making the determination or completing a prescreen with SBA.

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Karmin Garstecki
Karmin Garstecki
Loan Officer
Karmin Garstecki is one of Business Lending Partners Loan Officers. Karmin conducts credit analysis and application processing for BLP. Karmin also assists in maintaining the Business loan portfolio. Karmin holds a BBA in Finance from the University of Wisconsin - Whitewater.
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