SMALL BALANCE LOAN PROGRAM

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

 

 

Loan Amount         $3M-$10

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

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

Lien Position          1st position

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

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

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

Lender Points        2-5 points

Amortization         Up to 30 yrs or I/O 

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

 

Exit Fee                 None

Extensions            Yes

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

Processing Fees   $6k-$10k

Min. DCSR              Varies (Based upon project)

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