OKLAHOMA CITY—First Financial Network, Inc. isoffering of a portfolio containing $45 million of 1st trust deedsecured performing SBA loan participations. Theportfolio is being marketed on behalf of a bank and bids are due onJune 3.


FFN is offering a 15% non-guaranteed certificatedparticipation interest in each loan in the portfolio ofapproximately 400 SBA 7(a) commercial real estate loans. Collateralproperties are located in California, Texas, Arizona,Nevada, Oregon and Washington. Online duediligence materials will be made available to qualified investorsbeginning on May 5 at www.ffncorp.com. The loanswill be stratified into nine pools based on geographiclocation.


The portfolio carries a weighted average coupon of5.56%, that adjust quarterly indexed to "PrimeRate" as published in the WSJ and have a weighted average maturityof 286 months. The remaining non-guaranteed 10% interest in eachloan, as well as servicing, will be retained by the seller.


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


Since its founding in 1989, FFN has defined the loan saleindustry, selling billions of dollars in loans and other assets in28 countries.

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David Phillips

David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.