loan amounts

$1,500,000 to $5,000,000

Investor Properties - $500,000 to $1,000,000

eligible property types

eligible special use types

Office / Retail / Industrial / Single-Tenant / Professional

Franchise convenience store, car wash; grocery store; funeral home; daycare; restaurants; health club/spa; new & used auto sales

ineligible property types

Bars; gas station; church; school; hospital; B&B; adult entertainment; vacant land

loan terms

Fixed Rate Terms: 3, 5, 7, 10 yrs; Self-amortization 30 yrs

max ltv

75% (65% for Special Purpose)

CLTV - no seller or subordinate financing allowed

Min dscr

1.25x - 1.30x EBITDA (using Global Cash Flow)

EBITDA analysis: Borrower Personal & Business Income PLUS 70% of Gross Rental Income is used for DSCR analysis

min owner occupancy

Typically 25% minimum

prepayment penalties

Typically Declining Step-Down

recourse

All loans are typically full recourse

rate lock

No available

tax & insurance escrows

Not required

assumability

Loans are typically assumable subject to lender approval; subject to a 1.0% assumption fee

msa / markets

Nationwide. MSA requirements are typically 25,000 population within a 25 mile radius

borrower characteristics

Net worth: typically equal to or greater than the loan amount
Liquidity: 3-6 months post-closing liquidity (including 1031 accommodator acct)

borrower tax returns

2 years Federal Tax Returns required for all transactions

min. fico

Typically 660 or above; lower scores may be acceptable based on mitigants