SBA 7(a) underwriting package

Preferred stack: 504 on land + building + site (~$1.75M) and 7(a) International Trade Loan on equipment, fleet, and working capital (~$3.25M). Same $5M uses. A single $5M 7(a) ITL covering the real estate is honest but a CDC will ask why land and building are not on 504. Working capital inside an ITL is capped at $2M; this file’s soft/WC stack is $1.875M.

First physical house is P-920, not the Bayou 2500. The 2,500-SF hybrid is the platform the line is engineered to repeat. Do not launch five SKUs or the Horton-fighter in month one.

Paparazzi 2500 Hybrid / The Bayou 2500 (SKU P2500-BAYOU): 2,500 SF, two stories, 4 bed / 2.5 bath / 2-car, ~1,250 SF footprint, ICF exterior both floors, engineered floor cassette, engineered wood roof with architectural shingles. Looks conventional on purpose.

Hard $5,000,000 ceiling. 10% cash equity is additional (illustrative ~$555,556 on a ~$5.56M project). If something does not fit, it is phased — the ceiling does not move.

Philbert Andre Honore is Chair / CEO. Credibility is the businesses he actually built. Terry Washington is CMO designate — documented ICF plant experience, not independently verified until Appendix B (résumé, references, signed Manufacturing Leadership Agreement). The principal’s sister (PhD, Computer Science; name not published here) is Chief Technology / Digital Manufacturing Officer — a real operating seat, not window dressing.

Factory-built ICF modular housing constructed to the IRC as adopted by Louisiana, installed on a permanent foundation. Not HUD-code manufactured housing unless later designed on purpose. Not a container home.

Paparazzi’s returns stay 541600. A formed manufacturer, if counsel later creates one, files manufacturing (candidate NAICS 327390) on its first return. Do not recode Paparazzi as 31–33 to chase the 90% ITL.

Paparazzi Marketing Group LLC is not a homebuilder and is not a Working Capital Pilot borrower. WCP requires 12 full months of operations and is not day-one factory capital.