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Southern Bancorp

We are wealth builders for everyone.

Construction Loan

Property Types 2-4 Units, Agriculture, Assisted Living, Automotive, Bar, Cannabis Related, Car Wash, Church, Condo, Daycare, Entertainment Venue, Funeral Home, Gas Station, Hotel, Industrial, Land Entitled, Land Non-Entitled, Manufactured Home, Medical Facility, Medical Office, Memory Care, Mixed use, Mobile Home Park, Modular Home, Motel, Multi Family, Office, Place of Worship, Restaurant, Retail, Self-Storage, Senior Care - Commercial Property, Senior Care - Low Income, Senior Care - Residential Property, SFR, Shopping Center, Skilled Nursing, Special-Use, Strip Center, Student Housing, Warehouse
Lendding Area NATIONWIDE
Loan amount Minimum $1,000
Loan amount Maximum $30,000,000
Interest Rate Minimum 8.25%
Interest Rate Maximum 12%
Credit Score Min 600
Prepayment Penalty No Prepayment Penalty

Long Term Commercial Loan

Property Types 2-4 Units, Agriculture, Assisted Living, Automotive, Bar, Car Wash, Church, Condo, Daycare, Entertainment Venue, Funeral Home, Gas Station, Hotel, Industrial, Land Entitled, Land Non-Entitled, Manufactured Home, Medical Facility, Medical Office, Memory Care, Mixed use, Mobile Home Park, Motel, Multi Family, Office, Place of Worship, Restaurant, Retail, Self-Storage, Senior Care - Commercial Property, Senior Care - Low Income, Senior Care - Residential Property, SFR, Shopping Center, Skilled Nursing, Special-Use, Strip Center, Student Housing, Warehouse
Lendding Area NATIONWIDE
Loan amount Minimum $1,000
Loan amount Maximum $30,000,000
Interest Rate Minimum 8%
Interest Rate Maximum 13%
Points Minimum 1st TD -
Points Maximum 1st TD -
Terms 1 year, 18 month, 2 year, 4 year, 5 year, 3 year, 5 / 6 month ARM, 5 / 1 year ARM, 7 / 1 year ARM, 7 year, 7 / 6 month ARM, 10 year, 10 / 6 month ARM, 20 year, 15 year, 10 / 1 year
Typical Days Required to Fund 31-40 Business days
Credit Score Min 600
Interest Only or Amortized Amortized and Interest Only Options available
Fees Appraisal
Entities Corp - Corporation, Individual, LLC - Limited Liability Corporation, LP - Limited Partnership
Extensions Available Considered based on Performance
Cross Collateralize Blanket Yes
Lien Position 1st, 2nd
Max Points Charge by Broker No max
Prepayment Penalty No Prepayment Penalty
Intended Occupancy Tenant, Owner Occupied Business Purpose, Vacant
Fixed or Adjustable Adjustable
Recourse Recourse
Reserve Requirement 6 months

Rehab Loan

Property Types 2-4 Units, Agriculture, Assisted Living, Automotive, Car Wash, Church, Condo, Daycare, Entertainment Venue, Funeral Home, Gas Station, Hotel, Industrial, Land Entitled, Land Non-Entitled, Medical Facility, Medical Office, Memory Care, Mixed use, Mobile Home Park, Motel, Multi Family, Office, Place of Worship, Restaurant, Retail, Self-Storage, Senior Care - Commercial Property, Senior Care - Low Income, Senior Care - Residential Property, SFR, Shopping Center, Skilled Nursing, Special-Use, Strip Center, Student Housing, Warehouse
Lendding Area NATIONWIDE
Loan amount Minimum $1,000
Loan amount Maximum $30,000,000
Interest Rate Minimum 8.25%
Interest Rate Maximum 12.5%
Credit Score Min 600
Prepayment Penalty No Prepayment Penalty
Fixed or Adjustable Fixed
Reserve Requirement None

Line of Credit

Property Types 2-4 Units, Agriculture, Assisted Living, Automotive, Car Wash, Church, Condo, Daycare, Entertainment Venue, Funeral Home, Gas Station, Hotel, Industrial, Land Entitled, Land Non-Entitled, Medical Facility, Medical Office, Memory Care, Mixed use, Mobile Home Park, Motel, Multi Family, Office, Place of Worship, Restaurant, Retail, Self-Storage, Senior Care - Commercial Property, Senior Care - Low Income, Senior Care - Residential Property, SFR, Shopping Center, Skilled Nursing, Special-Use, Strip Center
Lendding Area NATIONWIDE
Loan amount Minimum $1,000
Loan amount Maximum $30,000,000
Interest Rate Minimum 8.25%
Credit Score Min 600

SBA Loan

Property Types 2-4 Units, Agriculture, Assisted Living, Automotive, Bar, Cannabis Related, Car Wash, Church, Condo, Daycare, Entertainment Venue, Funeral Home, Gas Station, Hotel, Industrial, Land Entitled, Land Non-Entitled, Manufactured Home, Medical Facility, Medical Office, Memory Care, Mixed use, Mobile Home Park, Modular Home, Motel, Multi Family, Office, Place of Worship, Restaurant, Retail, Self-Storage, Senior Care - Commercial Property, Senior Care - Low Income, Senior Care - Residential Property, SFR, Shopping Center, Skilled Nursing, Special-Use, Strip Center, Student Housing, Warehouse
Lendding Area alabama, arkansas, florida, louisiana, mississippi
Loan amount Minimum $5,000
Loan amount Maximum $30,000,000
Interest Rate Minimum 8%
Credit Score Min 600

Summary of all Guidelines

Southern Bancorp is located in Hattiesburg, MS.

These descriptions are limited information and meant for general reference purposes.
3002 Hardy Street, Suite 100
Hattiesburg, 
MS
 39401