Portfolio Investor
| Feature | Characteristics |
|---|---|
| Investor | |
| Maximum loan amount |
$20,000,000.00 * 75% office/shopping center * 60% Semi-generic * 55% Special use * 55% Unanchored retail |
| Maximum LTV (1st lien) |
20 years – 25 years* *On Exception Areas |
| Minimum personal credit | 650 – No previous bankruptcy |
| Acceptable markets | Urban/suburban areas |
| Rates | Start at 5% |
| Preferred characteristics | * Warehouse * Office * Manufacturing * Medical offices |
| Minimum equity injection | 20% |
| Minimum EDSC | 1.40X |
| Management experience | Previous ownership required |
| Minimum prepayment penalty | Declining 5% for years 1-5 |
Credit Tenant Lease Financing
| Feature | Characteristics |
|---|---|
| Eligible Property | Property is 100% leased to credit tenant and has long term lease |
| Loan amount | $ 4 Million or MORE |
| Property Type | Office, Retail, Industrial, Healthcare, Warehouses |
| Transaction Type | Acquisition or Refinance |
| Forward Rate Lock | Up to 12 months |
| Interest Rate | Starting at 4.5% |
| Tenants | S&P or Moody Investment Grade Tenants |
| LTV | Up to 100% |
| Loan terms | Up to lease term |
| Minimum DSCR | 1.05% |
SBA 7
| Feature | Characteristics |
|---|---|
| Product overview | Must be owner occupied 51%+ to qualify under this program |
| Loan amount | from $100K to $2 Million |
| Minimum Fico | 650 |
| Minimum DSCR | 1.25 |
| Loan purpose | Purchase, refi & cash out. Cash out is only accepted under this program if proceeds are for property improvement, payment of business debt and inventory |
| Loan amortization | 25 years |
| Property types | Car washes, auto repair/transmission/body shop, bowling alleys, medical/dental & veterinarian offices, liquor stores, convenience stores, supermarkets, child daycares, adult daycares, assisted living facilities, restaurants, retail/office condo/mixed use/industrial, self-storage facilities |
| Max LTV | Up to 90% |
| Interest rate | Starts at prime + 2.75% |
| Prepayment penalty | 5% in year 1; 3% in year 2; 1% in year 3 |
| Underwriting philosophy | Global cash flow underwriting |
SBA 504 (G)
| Feature | Characteristics |
|---|---|
| Loan amount | $500.000 – 7 Million |
| Minimum Fico | 660 |
| Minimum DSCR | 1.30 |
| Maximum LTV | 90% for multi-use properties (office, retail, condo, warehouse, medical office, mixed use, light industrial).85% for special use properties (automotive, assisted living, hotel, motel, restaurant, day care) |
| First Mortgage | First mortgage 50% and Second mortgage up to 40% First mortgage amortized up to 25 years and Second mortgage up to 20 years. Second mortgage rates is fixed for 20 years |
| Occupancy | Must be owner occupied 51%+ to qualify under this program |
| Loan Purpose | Purchase only |
| Underwriting philosophy | Global Cash Flow Underwriting |
| Closing time | 60 days if complete package |
| Loan programs available | 1. Adjustable (prime plus 2.75%) 2. 3 Year Fixed: Rate starts at 5.5% with 5 year declining prepayment 3. 5 Year Fixed: Rate starts at 6.5% with 5 year declining prepayment (the above two options only apply to the first mortgage) 4. The second mortgage will carry an interest rate of approx. 5.5% fixed for 20 years and amortized over 20 years 5. Seller Financing allowed by, borrower must have Minimum Equity of 10% |
Bridge Loan
| Feature | Characteristics |
|---|---|
| Loan amount | From $250K to $20 million |
| LTV | Up to 60% max |
| CLTV | May be allowed on a case by case basis up to 75% |
| Loan term | Up to 36 months |
| Minimum Fico required | None |
| Prepayment penalty | None |
| Exit fee | None |
| Interest rate | Starting at 10% |
| Lending | Nationwide lending. No rural areas(minimum population required 100K) |
| Acceptable property types | Office, medical/dental, office condo, warehouse, multifamily, mixed use, retail, strip centers, assisted living facility, day care, flagged and non-flagged hotel/motel, other property types considered on a case by case basis |
| Interest only payment | Available |
| Closing time | Can close as fast as 30 days with full package |
| Lender Fee | 2-4% |
| Broker Fee | 1-3% |