A conventional lending platform designed for most income-producing micro projects.

 

 

Loan Amount         $3M-$10

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Loan-to-Value       <75% Up to 100% (80% for some multifamily; debt/equity structured)

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Purpose                  Purchase Refi ADC Rehab   (Limited cash-out possible) 

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Lien Position          1st position

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Timing (estimated)    Term Sheet: 2-5 days; Closing 3-6 weeks (project variables factored)

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Term                       1-3 yrs interest only; 3,5,7,10 yr hybrid or fixed 

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Interest Rates        6.00%-9.00% -- 9.00%-12.00%   (Low rated risk/Higher rated risk)

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Lender Points        2-5 points

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Amortization         Up to 30 yrs or I/O 

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Recourse               Full Recourse & Non-recourse   ( Subject to standard “bad-boy carve outs)

 

Exit Fee                 None

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Extensions            Yes

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Prepayment          1-3% (As a percentage of balance)

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Processing Fees   $6k-$10k

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Min. DCSR              Varies (Based upon project)

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Credit Score          No minimum score (No BK, No tax liens or federal judgments allowed)