OKLAHOMA CITY—First Financial Network, Inc. is offering of a portfolio containing $45 million of 1st trust deed secured performing SBA loan participations. The portfolio is being marketed on behalf of a bank and bids are due on June 3. 

FFN is offering a 15% non-guaranteed certificated participation interest in each loan in the portfolio of approximately 400 SBA 7(a) commercial real estate loans. Collateral properties are located in California, Texas, Arizona, Nevada, Oregon and Washington. Online due diligence materials will be made available to qualified investors beginning on May 5 at www.ffncorp.com. The loans will be stratified into nine pools based on geographic location.

The portfolio carries a weighted average coupon of 5.56%, that adjust quarterly indexed to "Prime Rate" as published in the WSJ and have a weighted average maturity of 286 months. The remaining non-guaranteed 10% interest in each loan, as well as servicing, will be retained by the seller.

Bliss Morris, founder and CEO of FFN, said, "In today's environment, this offering presents a unique opportunity to fulfill a requirement to grow earning assets by acquiring a performing portfolio with a strong yield and no interest rate risk. We anticipate major interest from banks, credit unions and non-bank SBA lenders."

Since its founding in 1989, FFN has defined the loan sale industry, selling billions of dollars in loans and other assets in 28 countries.