New Commercial Loan/Bridge Loan Product

New Financing Program

1.     Non-bank long term bridge program- Nationwide

2.     Loan terms

• 5-10 years fixed @ 8% to 9.9%
• 30 year amortizations
• $500k to $10M
• 50-60% LTV
• 6-12 month prepay
• 3 points cost

3.     Property

• Apartment, office, medical office, retail, industrial, assisted living, hospitality
• Major MSA’a
• Need 1.20 debt coverage
• Lower actual occupancy acceptable if it supports 1.20 debt coverage

4.      Borrower

• 680 FICO
• Experienced owner with real estate assets

Where this program can fit:

• Borrower has limited liquidity, net worth and personal tax return income

• Traditional lender using higher cap rate than the market- we recognize the market cap

• Property’s actual occupancy below traditional lenders minimum level required

• Current lender offering to discount the note to achieve a payoff

• Borrower needs to close more quickly than traditional sources