Long-form editorial guides on CMBS, bridge, DSCR, SBA, mezzanine, data center, hotel, and NNN financing. Published by PeerSense Capital Advisory · Written by Ed Freeman, Founder. No marketing fluff. No upsells. Just the structural detail you need to make a real capital decision.
How franchise acquisition loans actually work — SBA 7(a) goodwill financing, the SBA Franchise Directory, equity injection and seller notes, brand-level default data, 2026 rates, and the 10-step plan to apply and close.
Read the full guide →Which franchises are easiest to get SBA financing for — ranked by lender appetite, default history, and FDD quality. 12 brands across QSR, service, fitness, childcare, and retail, plus the criteria lenders actually use.
Read the full guide →What a business lending advisor actually does — the assess/package/place workflow, how it differs from a broker or loan officer, fee structures, the 7 questions to ask, red flags, and the outcomes to expect.
Read the full guide →How invoice factoring works for manufacturing companies — the 7-step process, advance rates (70%-90%), fee structures, recourse vs. non-recourse, UCC lien issues, qualification, and how factoring compares to ABL and SBA.
Read the full guide →SBA loans are government-guaranteed business loans for owner-occupied real estate; DSCR loans are non-QM private-credit products for investor real estate. Owner-occupancy rules, the 1.25x floor, real cost comparison, and why most borrowers apply to the wrong one.
Read the full guide →Commercial Mortgage-Backed Securities (CMBS) explained — how conduit loans work, who qualifies, current rates, and the defeasance trap every borrower needs to understand before signing.
Read the full guide →Bridge loans solve a specific problem in commercial real estate — buying speed, capital flexibility, and timing the transition to permanent financing. Complete guide with rates, terms, and exit strategies.
Read the full guide →DSCR (Debt Service Coverage Ratio) loans let investors qualify on property income — no W-2, no tax returns, no personal income verification. How DSCR works, what multiples lenders use, and when it's the right structure.
Read the full guide →Bridge vs CMBS head-to-head — rates, terms, LTV, close speed, recourse, prepayment. The decision framework experienced sponsors use to pick between transitional bridge and permanent CMBS.
Read the full guide →DSCR vs conventional Fannie Mae investor loan — rates, qualification, LTV, speed, entity structure. Decision framework for investors scaling past the 10-loan conventional cap.
Read the full guide →SBA 7(a) vs SBA 504 for hotel acquisitions — LTV, rates, flexibility, close time, and recourse compared. Decision framework for hotel owner-operators picking between the two flagship SBA programs.
Read the full guide →Bridge and hard money are often conflated but they're different products. Bridge is institutional short-term debt for transitions; hard money is asset-based private lending for speed and credit-constrained situations.
Read the full guide →Mezz is debt (UCC pledge + fast foreclosure remedy). Pref equity is equity (priority distributions + contractual remedies only). Tax, pricing, and agency-debt rules decide which fits.
Read the full guide →CMBS conduit vs bank balance-sheet permanent debt. Rate, terms, recourse, prepayment, and relationship factors compared — with the specific scenarios where each structure wins.
Read the full guide →Equipment loan, operating lease, capital lease / $1-buyout, SBA 504, sale-leaseback. Tax treatment, Section 179 eligibility, cash flow impact — complete decision framework.
Read the full guide →DSCR is long-term institutional debt for rental holds; hard money is short-term private lending for fix-and-flip and rehab. The BRRRR pattern combines both. Here's the framework.
Read the full guide →Bridge-to-DSCR is the standard investor transition from acquisition / rehab financing into long-term rental debt. Timeline, seasoning rules, cash-out mechanics explained.
Read the full guide →Stuck on a 12-month bridge or hard money loan? The Hard Money Exit Strategy refinances short-term, high-rate debt into 30-year fixed DSCR rentals. Property eligibility, 1.05x DSCR underwriting, 80% LTV refi mechanics, timeline, and the 5 reasons banks decline these deals.
Read the full guide →Graduate stabilized commercial real estate ($2M–$50M+) from short-term bridge debt or restrictive SBA loans into 10-year fixed non-recourse CMBS conduit financing. 1.25x DSCR + 9–11% debt yield underwriting, SPE entity structure, 60–90 day close, plus the 5 reasons banks decline these refinances.
Read the full guide →Decision framework: SBA 504 wins on equity (10% down, 90% LTV) for owner-operators. CMBS wins on non-recourse + 10-yr fixed + cash-out for stabilized investor properties. Plus the SBA-to-CMBS graduation path institutional sponsors use to scale portfolios.
Read the full guide →Companies with strong commercial customers carry payroll, materials, and overhead while waiting net-30 to net-90 for AR. B2B factoring + ABL close the gap. Industry-specific underwriting (construction, staffing, trucking, oilfield, manufacturing, healthcare, government, distribution), recourse vs non-recourse, plus the graduation curve from spot factoring to ABL revolver.
Read the full guide →Branded hotels carry a structural capital-stack pattern: bridge during 24-month PIP execution, in-house brand FF&E financing, refinance into 10-year fixed non-recourse CMBS at 7.0–8.5% post-stabilization. PIP scope by flag (Marriott TID, Hilton CRP, Hyatt, IHG, Choice, Wyndham), capex per key, rooms-out-of-order management, and the 3-constraint CMBS underwriting (DSCR/LTV/debt yield).
Read the full guide →MARC ($5M revolving credit, up to 20-year term, Prime + 2.75% max) is the SBA's first 7(a) variant designed exclusively for U.S. manufacturers. But MARC underwriting is industry-specific. Working capital cycles, collateral mix, customer concentration tolerance, and certification requirements differ by NAICS sub-sector. Strategy guide across food (311), plastics (326), fabricated metal (332), machinery (333), transportation equipment (336), chemical (325), electronics (334), and miscellaneous manufacturing (339).
Read the full guide →Merchant cash advances are a structural mismatch for B2B businesses on net-30/60/90 payment terms. Invoice factoring, ABL, and SBA working capital are better. Decision framework + cost comparison.
Read the full guide →The counter-intuitive prepayment mechanism that shocks first-time CMBS borrowers. Low rates make defeasance EXPENSIVE. Here's the math, scenario framework, and how to model cost before signing.
Read the full guide →All 4 SBA programs explained — eligibility, rates, terms, LTV, timelines. Decision framework for owner-operators picking between programs. SBA MARC rural-area enhancement detailed.
Read the full guide →UCC pledge structure, capital stack positioning, pricing dynamics, and the worked example showing 8-9 percentage point IRR boost mezz delivers on typical value-add deals.
Read the full guide →Every commercial deal stacks senior debt + mezzanine + preferred equity + sponsor equity. Here's how each layer prices, risks, and sequences in default — the primer every sponsor needs.
Read the full guide →Data center capital stacks across construction, mini-perm, mezz, JV preferred equity, CMBS SASB, ABS. Hyperscaler tenancy + AI infrastructure economics + the major capital providers per stage.
Read the full guide →All 5 hotel financing structures explained — when each fits, rate ranges, owner-operator vs institutional sponsor decision tree. PIP financing paths included.
Read the full guide →Walgreens, CVS, Dollar General, Starbucks, 7-Eleven NNN financing — tenant credit drives 80% of pricing. May 2026 rate ranges by S&P rating. 1031 exchange mechanics + ground lease structures.
Read the full guide →Six equipment financing structures explained — conventional loan, $1 buyout lease, FMV operating lease, SBA 504, vendor financing, captive financing. Section 179 + 100% bonus depreciation under OBBBA 2026.
Read the full guide →May 2026 institutional snapshot — $200B+ CMBS maturity wall, delinquency by property type (office 10.5%+, multifamily 4.9% rising), 10Y/spread/all-in rate forecast, capital flowing TO vs AWAY FROM each asset class, standard $50M+ stacks.
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