Financing Programs
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Commercial Properties
Commercial Loan Program Term Sheet
Eligible Properties Types:
Assisted Living, Student Dormitory Housing, Office, Office Condo,
Single Tenant, Retail, Day Care, Industrial, manufacturing, Medical Office,
Medical Condo, Anchored Strip Malls, Office/Warehouse, Automotive Service,
Grocery Stores, Funeral Homes, Tire and Brake Centers, Oil/Lube Centers,
Restaurants, Churches (see Church term sheet).
Eligible Transactions:
Acquisition or refinance; rehabilitation; ground up new construction.
3 yr trailing profits at whatever new DSCR would be on a 8.5% constant
(No start-ups). Can be a for profit or non-profit 501c3 Organization.
Loan To Value:
75% purchases. 70% refinances depending upon age and condition of
improvements in a range of asset types. 60-65% retail, 70-75% nursing
homes/assisted living facilities, 65%-70% office, warehouse, $100K-$400K loan
amounts and multi tenant industrial building use properties. All MAI appraisals
are to rely on the income approach to value and employ either direct cap or
yield capitalization (Discounted Cash Flow Methodology) all based upon
reasonable financial assumptions that are market supported. In addition all
appraisal reports must contain an insurable value with a Marshall & Swift Cost
Estimate computer generated segregated cost analysis. No vacant land
analysis and reporting is required.
Transaction Size:
In certain geographical areas we can riginates small balance real estate
secured business loans of $100,000-$400,000. Closing of small balance loans
within 15-21 days. $500K to $5 million mortgage loan financing closing results
in 45-60 days.
If loan amount is over $5 million we arrange non-recourse participations up to
the required loan amount. of $35MM+ are available up to limit of $75MM, Nonrecourse
loans with equity participation typically required.
Non-Recourse:
No personal guarantees for routine loan transactions. If the project has credit
or other transaction underwriting issues, the loan may require personal
guarantees from credit-worthy members for a limited time period and then
exculpated after property income achievement is verified for a 12 month trailing
basis.
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