Product features & benefits
Owner Occupied Commercial Real Estate (51% or more)
· Nationwide loans up to $5MM for 7a, up to $15MM (total) for 504
· Project costs can include purchases, renovations, equipment, relocation expenses,
closing costs & justified working capital up to 125% LTV
· Ground up construction to permanent financing (up to $5MM) if there is historic
cash flow (80% owner occupancy required)
· As little as $10,000 down on multi purpose properties with strong credits
· Expansion guidelines (that can be supported) allow for prior year cash flow as low
as 0.75 times
· Rates – can fix at 5.99% (on stronger deals) with five year resets over a 25 year term
· Refinances – will allow a 25 year amortization for refinance projects
· Restaurants – for an existing operator looking to purchase, refinance, renovate or
expand his building, up to 100% LTV with historic cash flow
· Commercial Condos & Coops – we typically can finance them
· Fees – 50 bp’s to 100 bp’s based on pricing
Non real estate
· Medical (medical doctors, dentists, vets, ophthalmologists & pharmacists)
* practice acquisitions (borrowers can be fresh out of med school), 10 year terms
with as little as $10,000 down
* additional locations – must be supported by cash flow of primary location. No
first time start ups.
* Fees – 50 to 100 bp’s
· Medical loans with commercial real estate –
* For real estate loans that include a practice acquisition, expansion or
renovations of an existing practice, the build out of an additional practice or a
refinance…
* We do not blend terms – loan term will be 25 years (if 51% or more of loan
proceeds go towards the real estate)
· Franchise – for specific brands (such as Dunkin’ Donuts), borrower must be an
existing franchisee currently operating 1 to 5 units
* business acquisitions (re-sales), 10 year terms with as little as $10,000 down
* reimaging and/or refinance, 10 year terms
* additional locations – must be supported by cash flow of primary location. No
first time start ups.
* Fees – 50 to 100 bp’s
· Franchise loans with commercial real estate –
* For real estate loans that include an existing store acquisition (re-sales),
expansion or reimaging of an existing store, the build out of an additional store
or a refinance…
* We do not blend terms – loan term will be 25 years (if 51% or more of loan
proceeds go towards the real estate)
Commercial Real Estate Program:
A simple refinancing program for properties in need of reducing their monthly debt exposure or simply taking advantage of a discounted payoff, this program allows merchants to extract cash from equity to increase working capital, expand their business, or simply keep the operation moving forward.
We offer a couple of solutions which are typically between 1 and 10 years.
1-3 year Program
(This program is more for credit or financially challenged situations including bankruptcy &tax related issues)
Ø $200,000 to $10,000,000
Ø 40-80% loan to value
Ø 1 to 3 years
Ø 10-13%
Ø No Prepayment penalties
Ø Interest Only Payments
Ø 3-12 month interest reserves may apply on non-income producing properties
Ø 30-45 day turnaround time on average
1-5 Year Program w/ Amortized Options
Ø $200,000 to $10,000,000
Ø 40-90% loan to value
Ø 1 to 5 years
Ø 10 to 20 year Amortized
Ø 6.5-11%
Ø Prepayment Penalties may apply
Ø 30-45 day turnaround time on average
Initial Submission Requirements:
Ø Application
Ø Appraisal if one exists
Ø Use of funds
LENDING AREA
United States
COLLATERAL
All types of real estate considered
LOAN-TO-VALUE
Up to 65%
CLOSING TIME
1-2 weeks
No Prepayment Penalties
Please Call : 212-776-3045
Rehab and Commercial Hard Money plus Private Loans
Rehab Hard Money Loans
A commercial rehabber/investor can use a hard money loan for short term financing. Once a property has been renovated and sold for a profit, the funds are repaid and we can often allow the borrower to use the funds again on the next project. The average closing time for an approved loan is just two weeks!
Hard Money Bridge Loans
A bridge loan (bridging loan) is a short-term loan which bridges the Borrowers plan from one point to another. The bridge loan is useful when a Borrower only needs financing for a short time frame where a long-term fixed rate loan does not make sense. A hard money bridge loan can be used by a real estate developer, or other business entity to take advantage of commercial opportunities that don't fit into the traditional bank standards. Our typical maximum loan-to-value allowed on subject properties is 75%. Additionally, Borrowers are required to have a minimum of 10% cash or equity invested in a project when applying for a bridge loan; this is known as "skin in the game".
End of Construction Pay Off Loans
If a developer has a construction project that is at least 75% completed, they can obtain a hard money loan to pay off the construction lender and complete the project. A hard money loan can also be used to bridge the gap between a completed project and standard financing from a bank or traditional lender. With an End of Construction Pay Off Loan, A developer can use the collateral of the current project to raise capital for the next project.
Commercial Refinances
Commercial cash out refinances allow you to extract equity from real estate you already own. It can be a quick way of generating additional working capital to be utilized as you see fit.. Once all required paperwork has been submitted to our office, your hard money loan will fund as quickly as one week.
Foreclosure Bailouts (Foreclosure Prevention)
A hard money loan can be used to prevent foreclosure on a commercial property. A pending foreclosure can be stopped, if a property can be collateralized for up to 65% of its loan to value, based on the quick sale value of the property.
Purchases (Acquisitions)
A hard money loan can be used to purchase real estate if a borrower does not meet conventional bank standards or does not have time to wait for a traditional banks typically slow lending process. Hardmoney allows for things that banks never allow: low or no credit scores, incomplete construction, property in need of repairs, etc. Hard money funding can be used to quickly work around these financing problems and provides the opportunity for a savvy investor to acquire new properties.
Foreign National Commercial Mortgage Loans
This kind of hard money loan is for foreign investors who want to purchase commercial real estate in the United States. All sorts of property can be considered for hard money funding, including; commercial, industrial, residential, hospitality, rehabs, etc. Few restrictions exist for countries with notable exceptions being Borrowers from, Afghanistan, Venezuela, Iraq, etc.
Mezzanine Loans (and how they differ from bridge loans)
A mezzanine loan can be a type of bridge loan in the sense that it is short-term and not permanent financing. However a mezzanine loan is not secured by property, it is secured by an ownership interest in the company that owns the property. This occurs when the Borrower needs more money than he is able to borrow against the property, so he puts up an interest in his company as collateral.
Please Call : 212-776-3045