Programs

Investor Loan Program

 

  1. First lien position on commercial or industrial real property, held in fee simple (or leased fee with tenant), located in all states with the exception of AL, AR, AZ, CA , FL, GA, IN, LA, ME, MA, MI, MS, NJ, OH, OK and NV.
  2. Maximum loan $8,000,000. If the property is special use, the maximum is $5,000,000. Maximum exposure to one customer relationship will be $8,000,000.
  3. Maximum maturity and amortization will be 20 years. On an exception basis, amortization can be extended up to 25 years.
  4. Maximum LTV for multi-purpose properties is 65% with the ability to go to 75% for very strong deals. Maximum LTV for special-use properties is 50%.
  5. There must be a minimum equity in the subject real property of at least 20% of the lower of the purchase price or current appraised market value.
  6. Property type preferences include multi-use generic commercial, industrial, retail, office, and medical service properties. All other property types are considered special purpose. No gas stations, convenience stores, or car washes are permitted.
  7. Borrowers who presently neither own nor have previously owned rental income property and/or have limited or modest sources of liquidity or income other than the property being financed are not eligible.
  8. Both historical (two years) and projected EBITDA (NOI) must exhibit a DSC ratio > 1.4x on all loans. This should include adjustments for vacancy, replacement reserves and management fees if not included in historical figures.
  9. Borrower should have recurring excess income from outside sources of at least 25% of the proposed annual debt service.
  10. Appraisals for special-use properties require a “leased fee” and “fee-simple as dark” value.
  11. Properties with long-term leases and vacancy levels not exceeding current market vacancy are preferred.

 



Owner Occupied Loan Program

 

  1. First lien position on commercial or industrial real property, held in fee simple (or leased fee with tenant), located in all states.
  2. Maximum loan $8,000,000. If the property is special use, the maximum is $5,000,000. Maximum exposure to one customer relationship will be $8,000,000.
  3. Maximum maturity and amortization will be 20 years. On an exception basis, amortization can be extended up to 25 years.
  4. Maximum LTV for multi-purpose properties is 65%. Exceptions made to 75% for very strong deals.
  5. There must be a minimum equity in the subject real property of at least 20% of the lower of the purchase price or current appraised market value.
  6. Property type preferences include multi-use generic commercial, industrial, retail, office, and medical service properties. All other property types are considered special purpose. No gas stations, convenience stores, or car washes are permitted.
  7. Borrowers who presently neither own nor have previously owned rental income property and/or have limited or modest sources of liquidity or income other than the property being financed are not eligible.
  8. Both historical (two years) and projected EBITDA (NOI) must exhibit a DSC ratio > 1.4x on all loans. This should include adjustments for vacancy, replacement reserves and management fees if not included in historical figures.
  9. Borrower should have recurring excess income from outside sources of at least 25% of the proposed annual debt service.
  10. Appraisals for special-use properties require a “leased fee” and “fee-simple as dark” value.
  11. Properties with long-term leases and vacancy levels not exceeding current market vacancy are preferred.



SBA 504

 

Loan Sizes:

Up to $11,250,000.

Rate Adjustment:

Adjustable, Ten (10) and Twenty (20) Year Loan Terms Available.

Term and Amortization:

Up to 20 years, fully amortizing.

Debt Coverage Ratio:

1.25x Minimum Debt Coverage Ratio ("DCR") for the most recent FYE and Interim period. The DCR will be based on the underwritten EBITDA of the Small Business Concern.

Maximum LTV:

50% (CLTV 90%)
Recourse: All loans are Full Recourse and require the personal guarantee of any and all individuals or entities holding 20% ownership interest or more.
Loan Payments: ACH may be required.
Interim Financing: Available and funding may be required by Lender. 120 Day Term and Variable Interest Rate based upon the published Wall Street Journal (WSJ) Prime Index + 2.75%, Interest Only, to adjust QUARTERLY.
Construction Financing: Available for Multi Purpose Projects. Please call for Program Information.

 



SBA 7(a)

 

Loan Sizes:

Up to SBA limit. Currently $5,000,000.

Term and Amortization:

Up to 25 years, fully amortizing.

Debt Coverage Ratio:

1.25x Minimum Debt Coverage Ratio ("DCR") for the most recent FYE and Interim period. The DCR will be based on the underwritten EBITDA of the Small Business Concern.

Minimum Cash Injection:

Multi Purpose - 10%

Special Purpose - 20%

Recourse:

All loans are Full Recourse and require the personal guarantee of any and all individuals or entities holding 20% ownership interest or more.

Loan Payments: ACH may be required.
Construction Financing: Available for Multi Purpose Projects. Please call for Program Information.


USDA

 

Loan Sizes:

Up to $4,000,000

Term and Amortization:

Up to 25 years, fully amortizing.

Debt Coverage Ratio:

1.25x Minimum Debt Coverage Ratio ("DCR") for the most recent FYE and Interim period. The DCR will be based on the underwritten EBITDA of the Small Business Concern.

Minimum Cash Injection:

Multi Purpose - 10%

Special Purpose - 20%

Recourse:

All loans are Full Recourse and require the personal guarantee of any and all individuals or entities holding 20% ownership interest or more.

Loan Payments: ACH may be required.
Construction Financing: Available for Multi Purpose Projects. Please call for Program Information.

 

Newsticker
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