Loan Program

Loan Amount: $100,0000 to $2,000,000

Term: 6 to 36 months

Rates: 9% to 12.5%, subject to risk

Lender Fee: 2% to 4%, of the loan amount

Amortization: often interest only, negotiable

Prepayment: Flexible

Personal guarantee: Required in most situations

Security: 1st mortgage, 2nd mortgage on selective basis

Purpose: residential construction, commercial construction, bridge, land development, environmental remediation, special situations

Time line: Term sheets in 24 hours, funding decisions within 48 hours upon presentation of good information

Loan to value: Max: 75% on residential, 70% on commercial, higher loan amounts with additional real estate collateral

Eligible Properties

  • Mixed Use – Properties that integrate residential with commercial uses.

 
  • Retail and Office Buildings – includes office, convenience stores, drug stores, bakeries, and salons.

 
  • Raw Land – residential and commercial

 
  • Self-Storage Facilities –includes cold storage, RV and boat storage facilities, and truck terminals.

 
  • Warehouses/Light Industrial Properties – Single and multi-tenant facilities.

 
  • Automotive Services – Includes auto repair to retail auto shops and parts-supply stores.

 
  • Hotels/Motels –On a selective basis.

 
  • Restaurants –established owner-occupied and leased facilities

 
  • Multi-Family Housing – individual apartments for rent with common area facilities.

 

·          Other type of properties include:

Assisted care

Adult entertainment

Campground

Car Wash

Gas Station

 

 

Marina

Mobile Home Park

Private School

Church