Program FICO01 Multi-Family (Apartment) Loans From $500,000 – $5,000,000: • 15 and 30 Year Amortizations • 3, 5, 7, 10, 15 Year Fixed Rate Terms • No Defeasance or Yield Maintenance • No Replacement Reserves • Monthly / Annual Leases Acceptable • Substitute Leases With Bank Statements • A, B and C Property Types Considered • No Balloon or Call Provisions • Maximum LTV 80% / 85% CLTV • Step Down Prepayment • Minimum DSC of 1.15:1 • Standard 1% Fee Closing Cost • 60 Day Rate Lock • Limited Impound Requirements • Assumable at Lender Discretion ◦ 3% Seller Concession Allowed on Purchases ◦ 10% Seller 2nd Allowed on a Case by Case Basis ◦ Mixed-Use Commercial/Residential Acceptable to 25% Commercial Use. Mobile Home Parks Eligible for Apartment Loan Program with 15+ Pads.
Property management experience is generally required for properties with 12 or more units, or property management letter and resume may be substituted.
Competitive closing costs for apartment loans to $5 million. Costs include standard third party reports including inspection, appraisal, engineering, environmental, lender fees, document fees.
Apartment Loans From $5,000,000: Customizable Fixed Rate Terms — 5, 7, 10, 15, 18, 20, 25, & 30 Yr. Terms • Defeasance, Yield Maintenance, and Decreasing Term Prepayment Options • Single or Multi-Asset Properties • Cash, MBS, or DMBS Execution • 365 Day Extended Rate Locks • Balloon or Non-Balloon Terms • Non-Recourse Above $1.5 Million • Tiered Risk-Based Pricing
Commercial (Investor): $500,000 – $25,000,000. We Also offer non-conforming, owner-occupied or investor commercial loan program providing up to 90% commercial financing and 30 year fixed rate terms, for both traditional and non-traditional commercial properties. • Owner-Occupied Properties or Investor Properties • Traditional Commercial Properties Only • 15, 20, 25, & 30 Year Amortizations • 3, 5, 10, 15 Year Fixed Rates • Up to 75% LTV / 75% CLTV • Below PRIME Rates • No Balloons or Calls • Cash Out to 40% of Loan Amount • Fixed Declining Prepayment • Minimal Impound Reserves • Recourse and Non-Recourse Options • Minimum 660 Credit Score • 2 Years of Historical Income Req. • Low Minimum 1.25 DSCR.
$100,000 – $500,000: We Also offer non-conforming, owner-occupied or investor commercial loan program providing up to 90% commercial financing and 30 year fixed rate terms, for both traditional and non-traditional commercial properties. • Owner-Occupied Properties or Investor Properties • Traditional or Non-Traditional Commercial Properties • Full Document, Low-Doc, and Stated Income Options • No Doc Owner Occupied and Investor Commercial Loans • 30 Year Amortizations • 3 Month, 2, 5, & 30 Year Fixed Rates • 85% LTV on Refinances • Cash Out Refinances to 75% • Flexible Prepayment Options • 20% Annual Prepay With No Penalty • Low Minimum 1.25 DSCR • Minimum 600 Credit Score
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APARTMENT LOANS, MULTI-FAMILY
Apartment owners with a minimum of 5 units will find a wide array of financing options to meet their individual financing needs including assorted fix rate hybrid loans and prepayment options. Purchase refinance and cash out refinance are also available.
Program APBA01 Eligible Properties: Stabilized properties with at least 5 units in major MSA’s and proven management. • Up to 40% commercial component permitted; student and senior housing eligible for financing.
Loan Amounts: $250,000 - $10,000,000
Term & Amortization: Adjustable, 3, 5, 7, and 10 year hybrid loans amortized out for 30 years.
Prepayment Penalty: Typically step-down prepayment penalties during the fixed rate portion of the loan.
Loan to Value Ratio: Maximum LTV 75% depending on the quality and program.
Debt Coverage Ratio: Minimum 1.25:1 DCR
Credit Score: Minimum middle credit score 680
Application Fee: Will be applied towards third party costs to include but not limited to Credit Report, Appraisal Report, Property Inspection.
Title/Escrow: Preferred carriers offer discounts to our clients.
Pricing: Interest rates quoted daily.
Borrower: Individuals, Trusts, Limit Liability Companies, Limited Partnerships, COPs and Corporations.
Territory: Nationwide MSA’s with minimum population area of 100,000.
Loan Features: Recourse • Assumable • Secondary financing may be allowed on purchase transactions • Layered risk-based pricing to ensure lowest rates • Several prepayment options keep you in control
MIXED USE LOANS FINANCING & MORTGAGE
mixed-use apartment/retail or apartment/office buildings. Up to 40% commercial component permitted
Program APBA02 Eligible Properties: Stabilized apartment/retail or apartment/office properties with at least 5 units in major MSA’s
Loan Amounts: $250,000 - $10,000,000
Term & Amortization: Adjustable, 3, 5, 7, and 10 year hybrid loans amortized out for 30 years.
Prepayment Penalty: Typically step-down prepayment penalties during the fixed portion of the loan.
Loan to Value Ratio: Maximum LTV 75% depending on the quality and program.
Debt Coverage Ratio: Minimum 1.25:1 DCR
Credit Score: Minimum middle credit score 680
Application Fee: Will be applied towards third party costs to include but not limited to Credit Report, Appraisal Report, Property Inspection.
Pricing: Interest rates quoted daily.
Borrower: Individuals, Trusts, Limit Liability Companies, Limited Partnerships, and Corporations.
Territory: Nationwide MSA’s with minimum population area of 100,000.
STUDENT HOUSING LOANS
Dedicated student housing loans. Our Student Housing Loan Program is a customized program that addresses the special need financing of the student housing market. Borrowers can expect flexible financing terms, including structured transactions and fast execution.
Program APBA03 Eligible Properties: Stabilized Multifamily student dwellings containing at least 5 units
•Must be dedicated student housing and located within 2 miles of the school
•University population must be greater than 7,500 students.
•MSA population of 250,000 required
•Food Service is not allowed
Loan Amounts: Minimum of $500,000
Term & Amortization: Typically 30 year terms with 30 year amortization
• 3, 5, 7, 10 fixed terms offered
Prepayment Penalty: Typically step-down prepayment penalties during the fixed rate portion of the loan.
Loan to Value Ratio: Maximum LTV equals 75% purchase, 70% refinance.
Debt Coverage Ratio: Minimum 1.35:1 DCR
Reserves: Taxes and insurance escrows required
Pricing: Interest rates quoted daily.
Borrower: Strong single and multi-asset borrowers with proven track record in student housing.
Recourse: Yes
Loan: Historical occupancy minimum of 90%
MOBILE HOME PARK LOANS
Wide array of financing options for Mobile Home Parks. flexible and economical financing programs in markets throughout the United States.
Program APBA04 Eligible Properties: Three-Star rated parks or better
• Minimum of 50 pads or sites
• Minimum of 50% of coaches to be double-wide or better.
• Paved roads and skirted coaches
• No more than 10% Park owned coaches.
Loan Amounts: $750,000 - $5,000,000
Term & Amortization: Adjustable, 3, 5, 7, and 10 year hybrid loans amortized for 25/ 30 years.
Prepayment Penalty: Typically step-down prepayment penalties during the fixed rate portion of the loan.
Loan to Value Ratio: Maximum LTV 65% on Purchase Transactions, 60% refinance
Debt Coverage Ratio: Minimum 1.35
Credit Score: Minimum middle credit score 680
Application Fee: Will be applied towards third party costs to include but not limited to Credit Report, Appraisal Report, Property Inspection. Approved Mobile Home Park appraisers only.
Pricing: Interest rates quoted daily.
Borrower: Individuals, Trusts, Limit Liability Companies, Limited Partnerships, COPs and Corporations.
Territory: Nationwide MSA’s with minimum population area of 100,000.
Loan Features:
•Recourse
•Assumable
•Layered risk-based pricing to ensure lowest rates
•Several prepayment options keep you in control
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HUD FINANCING: Multi-Family, Assisted Living/Healthcare, Hotel, Church, Apartments, and Construction, Substantial Rehab:
Program 1: Loan Amount: No programmatic minimum or maximum loan size • LTV/LTC: For Profit: Up to 90% of cost, including the “As is Value” of the land. For Non-Profit: Up to 100% of cost • Loan Term: Up to 40 Years • Amortization: Construction period-Interest Only • DSCR: 1.11:1 • Rate: Interest rate locked prior to construction for the full loan term • GinnyMae securities are priced daily • Assumability: Fully assumable with HUD and Lender’s consent • Recourse: Non recourse, except for standard carve-outs required by HUD • Fees and Costs: Borrower responsible for market study, appraisal, PCNA, Phase I Environmental and survey • HUD Fees: HUD Application fee, HUD Inspection fee, and HUD mortgage Insurance • Closing: 4-5 Months • Fico Score: 620 and above. Click here to learn more About HUD and Details about Their Programs. (TV1SAMCA)
Program 2: Multi-Family - Acquisition/Refinance:
HUD 223(f) – Acquisition, Acquisition and Moderate Renovation of multifamily projects nationwide. 35 year, fixed rate, non-recourse, assumable. Allow 7.5% second mortgage. 83.3-90% LTV.
HUD 223(f) – Refinance, Refinance and Moderate Renovation of multifamily projects nationwide. 35 year, fixed rate, non-recourse, assumable, cash out up to 80%, rate and term 83-90%.
AGENCY - Acquisition, Refinance and Moderate Renovation of multifamily projects nationwide. 30 year, fixed rate, recourse & non-recourse, assumable, cash out up to 75%, rate and term 80%.
HUD a7 (existing HUD loans) - Financing for existing apartment HUD loans. Refinance up to 12 years beyond remaining term. Maximum term is 35 years. No cash out, non-recourse, assumable.
HUD 241(a) (existing HUD loans) - Provides insured second mortgages to finance repairs, additions and improvements to existing multifamily properties already held or insured by HUD.
83-90% of replacement costs. Up to 40 years, non-recourse, assumable.
Multi-Family - Construction/Substantial Rehab:
HUD 221(d)(4) - New construction or substantial rehab for market rate and affordable apartments nationwide 40 year, fixed rate, non-recourse, one closing, assumable. Allow 10% builders profit credit. 83-90% loan to replacement cost.
HUD 221(d)(3) - New construction or substantial rehab for non-profit borrowers 40 year, fixed rate, non-recourse, one closing, assumable. Allow 10% builders profit credit. 95% loan to replacement cost.
HUD 220 - New construction or substantial rehab for projects located in Urban Renewal Areas 40 year, fixed rate, non-recourse, one closing, assumable. Allows more commercial income than HUD 221(d)(4) and 221(d)(3) programs. Allow 10% builders profit credit. 83-90% loan to replacement cost.
USDA 538 - New construction or substantial rehab for communities or cities with 20,000 or less population. 40 year, fixed rate, non-recourse, one closing, assumable. Allows developer’s fee. 90% LTV. 97% for Non Profits.
Health Care - Acquisition/Refinance:
HUD 232/223(f) - Refinance/acquisition for skilled nursing, assisted living, and board & care. 35 year fixed, non-recourse, assumable. 80-85% secondary financing up to 7.5%.
AGENCY - Refinance/acquisition for skilled nursing, independent living, assisted living, Alzheimer's units. 30 year fixed, non-recourse, assumable. 75-80% LTV. TWEAK.
Government Finance Program - Refinance/acquisition for skilled nursing, assisted living, and board & care. 25 year fixed, recourse. 80-85% LTV. TWEAK.
HUD a7 (existing HUD loans) - Financing for existing healthcare HUD loans. Refinance up to 12 years beyond remaining term. Maximum term is 35 years. No cash out, non-recourse, assumable.
HUD 241(a) (existing HUD loans) - Provides insured second mortgages to finance repairs, additions and improvements to existing healthcare properties already held or insured by HUD.
83-90% of replacement costs. Up to 40 years, non-recourse, assumable.
Health Care - Construction/Substantial Rehab:
HUD 232 - New construction/substantial rehabilitation for skilled nursing, assisted living, and board & care. 40 year, fixed rate, non-recourse, one closing, assumable. 75-90% LTV.
Hospital:
HUD 242, USDA Community Facilities Program, Rated and Non-Rated Bonds, HUD 241, Rural Development Bonds.
202 Programs:
HUD 202 - Refinance & Acquisition, Acquisition, Refinance and Moderate Renovation 35 year, fixed rate, non-recourse, allows for developer's fee, can complete improvements.
Mobile Home - Construction/Substantial Rehab:
HUD 207(m) - This program is used to finance the construction or rehabilitation of manufactured home communities. 40 years, 90% financing, non-recourse, assumable. (TVBELE)
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Commercial Real Estate Financing (Retail, Industrial, Hospitality):
Program 1: $500,000 & Up • Owner-Occupied Properties or Investor Properties • 15-30 Year Amortization • 3-15 Year Fixed Rates • Up to 75% LTV • Low Rates • No Balloons • Fixed Declining Prepayment • Recourse and Non-Recourse Options • Minimum 660 Credit Score • 2 Years of Historical Income • Minimum 1.25 DSCR.
There is also a non-conforming, owner-occupied or investor commercial loan program providing up to 90% commercial financing and 30 year fixed rate terms.
From: $250,000 - $5,000,000 • Owner-Occupied Properties or Investor Properties • Full Document, Low-Doc, and Stated Income Options • Owner-Occupied Stated Income Commercial Loans to 90% LTV • 30 Year Amortization • From 3 Months-30 Year Fixed Rates • 90% LTV on Purchase • 85% LTV on Refinances • Flexible Prepayment Options • 20% Annual Prepay With No Penalty • Minimum 1.25 DSCR • Minimum 600 Credit Score.
Program 2: Minimum: $1,000,000
Short term first mortgage on select commercial real estate properties with the following rates and terms:
Eligible Locations: Nationwide - MSA of 50k or greater preferred - other locations case by case
Eligible Properties: Stabilized income producing commercial real estate - office, retail, warehouse, industrial, owner occupied, single tenant and mixed use.
Eligible Transactions: Acquisition or refinance; rate and term - some cash-out possible
Not Eligible Not eligible: land, subdivisions, infrastructure, A&D, single family, health care, nursing home, rural or agricultural, restaurants, gas stations. No hotels loans
Transaction Size: $1 million to $10 million
LTV-LTC: Lessor of up to 65% of appraised as-is value or actual purchase price. Retail max 50%. Owner Occupied max 75%.
Security: First mortgage lien on the subject property(s), assignment of all permits and approvals, assignment of leases, pledge of partnership interests, personal guarantee of principals, UCC on other collateral
Ownership: Single asset, special purpose entity.
Prepayment: 3 year - none; 5 year - YM or 5-4-3-2-1%
interest Rate : 4% to 6% fixed, depending on fixed rate period preferred
DSC: 1.25 - 1.40x depending on program preferred
Recourse: Full personal recourse to each principal of the Ownership entity.
Loan Term: 3 years, 5 years, 10 years
Amortization: 25 years
Second Mortgage: Possible with permission of Lender
Line of Credit : Up to $500k; Prime + 1.75% interest only
Third Party Reports: MAI Appraisal, Phase I environmental, property condition, ordered by Lender at expense of Borrower.
Closing Time: 30 - 45 days from completed Application (TVSTCOCA)
Program 3: Permanent financing on owner-occupied property for successful cash-flowing businesses where the owners have good credit ratings.
Eligible locations: Continental US
Eligible properties: Owner-occupied (51% or more), single or multi-tenant, commercial real estate properties. Industrial, warehouse, retail, office, mixed use, special purpose and more.
Business type: Established, cash-flowing business. Start-up businesses are not eligible.
Occupancy: Multi-tenant is permitted, but owner must occupy at least 51% of the property
Eligible transactions: Acquisition or refinance
Transaction size: $1 million to $7 million
The lesser of : “As Is” appraised real estate value or actual purchase price:
Purchase - LTV/LTC: 75%, (sba 504 loan program ) 90%, FICO: 650+
Higher LTV's with additional pledged collateral
Refinance - LTV Based on "As-Is" appraised market value: 75% cash-out case by case, FICO 650+
Index: Prime or LIBOR
Adjustments: Fixed or Quarterly
Term: 3-5-7-10-25 yrs
Amort: 20-25 yrs
Prepayment Penalty 5,4,3,2,1% or 5% for 5 years
Security: First mortgage lien on the subject property, assignment of all permits and approvals, assignment of leases. Possible security interest in receivables, inventory, fixtures, equipment, furnishings or other collateral.
Ownership: Single asset, special purpose entity.
Prepayment: Up to 20% of principal balance may be repaid annually without penalty.
DSC: Minimum of 1.25 - Net business income (EBITDA) plus rents from other leased spaces, if any.
Recourse: Full Recourse.
Credit Enhancement Secondary lien on additional collateral may be required for credit enhancement
Escrows: Real estate taxes, hazard insurance. Optional
Second Mortgage: Permitted with permission of Lender based on consolidated DSC (excluding loans over 80%).
Third Party Reports: Appraisal, Phase I environmental and others if required, ordered by Lender at expense of Borrower.
Closing Time: 45 - 75 days from completed Application. (TVSTCOCA)
Program 4: (Non-Recourse) Minimum Loan Amount: $2,000,000
Eligible Locations: Strong primary markets - 100,000+ population in Metro area.
Eligible Transactions: Acquisition or refinance of existing quality stabilized income-producing properties
Eligible Properties: Multifamily, multi-tenant office, retail (with credit anchor occupying no less than 45% on rentable space); warehouse, industrial, credit single tenant, mobile home park (3 - 5 star), self storage.
Properties that are NOT Eligible : Hotels, land, single family, etc.
Transaction Size: $2 million to $20 million
LTV Up to 75% depending on property type. [The lesser of as-is appraised value or purchase price]
Security: First mortgage lien on the subject property, assignment of leases and rents, UCC on other property collateral, [NO personal guarantee].
Ownership: Single asset, special purpose entity (Corp, GP, LP, LLC, etc.)
Principals Requirements At least 650 FICO, sufficient liquidity to cover 12 months of debt service.
Interest Rate 6.90% to 7.00%, fixed
Loan Spread: Like-term Swap Yield, rounded to nearest 1/8%
Amortization 25 - 30 years
DSCR 1.25x depending on property type
Loan Term: 5 year term - balloon at end of loan term.
Non-Recourse: No personal recourse to principals for loan. Traditional "Bad Boy" carve-outs are required for waste, hazardous substances, etc.
Minimum Occupancy 85% stabilized occupancy
Prepayment Penalties Locked years 1 and 2 - Yield maintenance thereafter
Rate Lock Two days before closing for a 2% refundable fee
Subordinate Financing Not permitted
Assumability Assumable to qualified borrowers for 1% fee
Closing time: 45 days from completed Application. (TVSTCOCA)
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Commercial Land Loans:
This program is designed to provide a business loan for a Borrower purchasing a commercial lot or refinancing current commercial lot loan. Commercial lots must be eligible for present or future commercial construction. Construction financing is also available.
Fast pre-qualification, typically between 3 to 5 business days • Loans are available to Borrowers with excellent to less than perfect credit • No minimum acreage requirements or maximum limitations • Commercially zoned land with entitlements • Up to 3 year terms(longer terms available on an exception basis) • Loan amounts up to 55% of the purchase price • Interest only payments in the first year (payments after the first year to be determined) • Full income documentation and limited income programs available • Loan amounts from $50,000 to $1,000,000.
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SBA 7(a) Loans:
Loan Size $150,000-$2 Million • Real estate up to 90% • Business acquisition, up to 85% • Equipment acquisition, up to 90% • Debt refinance, up to 100% • Business start-up, up to 80%.
Maximum Term: Real estate purchase and refinance, 25 years • Business or equipment acquisition, 10 years • Working capital and inventory, 7 years. Collateral: Business assets, business or personal real estate.
SBA 504 Loans SBA 504 loans:
Program 1: Loan Size • $250,000-$5 Million • General purpose real estate, up to 90% • Special purpose real estate, up to 85% • Equipment financing, up to 90%. Maximum Term: • Bank first trust deed, 25 years • SBA second trust deed, 20 years.
Program 2: $200,000-$4,000,000 Purchase, Refinance & Cash out Refinance • 90% Owner Occupied Purchases (SBA 504) • 65% Purchase (Non-SBA, up to 90% CLTV) • 65% Refinance / 65% Cash Out Refinance • 25 years fully amortized • 20 years fully amortized • 15 years fully amortized (Car Washes Only) • Fast closings • Declining pre-pay No-lock out • Rate locks available at no cost • Years of Business and Personal Tax Retruns Required.
Up To 90% LTV Owner Occupied: Buy or Improve Commercial and Industrial buildings with Minimal Investment Finance the Purchase of Owner Occupied Commercial and Industrial Properties Lower Down Payment Requirements • Up to 90% financing safeguards cash reserves for working capital • Longer Repayment Terms • 20 Year fully amortized – Improves cash flow as monthly payments are more affordable • Fixed Rate Financing – Below market interest rate is fixed for the term of the loan • No Extra Collateral Taken – 1st and 2nd loans are secured by the subject property only; no need for borrower’s personal residence or other collateral • Projected Income Consideration – Look beyond historical cash flow and consider projected income of borrower’s growing business • Amortization: 20 years fully amortized • Interest Rate is fixed for the 20 year amortization period once the bond is sold • Interest Rate is closely aligned to the 10 year U.S. Treasury • Up to 90% LTV Loan amounts vary with project type and credit quality • Loan sizes from $100,000 to $1,500,000 for regular 504 program - $2,000,000 for loans that meet a public policy goal - $4,000,000 for small manufacturers • Program Requirements: 51% Owner Occupancy required for building • Business must be for profit • Business must be organized as a sole proprietorship, corporation, partnership, or LLC • Business net worth < $8.5M and net profit < $3.0M • Personal guaranty from principal owners with > 20% ownership • Property Types: Most commercial property types considered, No Land. (TVNEENCO)
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Commercial Construction Loans:
Program 1: Maximum loan to cost: 75% • Maximum loan to value: 80% of completed value • Term: Generally 1 to 2 years with extensions as necessary • Amortization: Interest only • Typical Rates: 6% & up • No prepayment penalty.
Projects: All commercial property types can be financed. Developer and contractor must have experience at this type and scale of development.
Recourse: Typically recourse. Possible non-recourse construction financing for larger loans.
Closing costs: Borrowers are responsible for all due diligence and closings costs (e.g. Appraisal, Phase 1 Environmental, site inspection, title, etc).
we offer both construction and long-term financing (Construction to Perm). This one-stop shop will save you time and money and provide a smooth transition from construction to long-term financing.
Program 2: This program is designed to provide a business loan to a Builder constructing a commercial property (Office Buildings, Retail Stores, Shopping Centers, Warehouse/Flex Space, 5+ Multi-Family units and most other income generating properties). Upon completion, the loan may be converted to a permanent loan.
Fast pre-qualification, typically between 3 to 5 business days • Loans are available to Borrowers with excellent to less than perfect credit • Flexible draw schedules • Owner and Non-Owner Occupied Commercial properties are eligible • Self Build/Owner Builder Borrowers are allowed • Land purchase may be included in the construction loan, up to 55% of the lot purchase price • Up to 18 month terms available (longer terms available on an exception basis) • Loan amounts up to 75% of the appraised value based on the income approach • Interest only payments based on funds drawn • Full income documentation and limited income programs • Loan amounts from $75,000 to $2,500,000 (TVNO)
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Multi-Family Construction Loans:
Program 1: Minimum Loan Amount: $4,500,000
Eligible Locations: Major markets in Continental US
Eligible Properties: Apartment properties located in virtually any area.
Eligible Transactions: To finance ground-up construction of new, and substantial renovation of existing, market rate apartment properties.
Transaction Size: $4.5 million - no maximum
LTC: Up to 90% of total project costs. .
Security: First mortgage lien on the subject property(s), assignment of all permits and approvals, assignment of leases, pledge of partnership interests, personal guarantee of principals, UCC on other collateral
Ownership: Single asset, special purpose entity.
Builder's profit Up to 10% of allowable costs, payable at closing of construction phase One Loan- One Closing Construction and permanent loan in one closing
Prepayment Negotiable
interest Rate 5.5% - 6.5% fixed at time of closing on construction loan for 40 year loan term
DSC: 1.20x
Recourse: None - not even carve-outs
Borrower Qualifications: Knowledge and experience; significant liquidity; no minimum credit; completion guarantees and bonding of GC required
Loan Term: 40 years - no balloon
Reserves: Mortgage interest, real estate taxes, hazard insurance, others if required
Second Mortgage: Not permitted
Demonstrate Demand Heavy concentration on local demand based on Lender's commissioned feasibility study
Assumable To qualified borrower for 1% fee
Closing Time: 4 to 6 months. (TVSTCOCA)
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Mezzanine Financing - Preferred Equity:
Mezzanine Financing and Preferred Equity give owners access to greater proceeds than available through conventional financing and can be used in conjunction with new or existing financing.
Program 1: Loan Amount: Generally $2,000,000 minimum • No maximum • Single asset special purpose entity • Loan Term: Generally 1 to 5 years • Sponsorship: Good overall credit with sufficient liquidity & demonstrated experience completing similar transactions • Amortization: Interest only or fixed principal paydowns • Security: Pledge of partnership by Lender/Investor or preferred equity position. Additional credit enhancement (recourse, other collateral, letter of credit or other guarantees) to be determined • Minimum DSCR: 1.10 • Required Reports: Narrative MAI Appraisal, Property Condition Assessment and Phase I Environmental • Maximum LTV: 90% • Prepayment: Generally permitted • Interest Rate: Floating rate over LIBOR index. Spread varies based on risk and terms • Lender Fee: Origination and exit fees to be determined • Eligible Property: Nationally located Apartments, Office, Retail, Hospitality, Industrial. No land development or special use projects.(TVUNCO)
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Bridge Loans:
Program 1: Loan Amount: Generally $2,000,000 minimum • No maximum • Loan Term: Generally 1 to 5 years, Extension options available • Tax And Insurance Escrows: Monthly deposits required • Amortization: Interest only or fixed principal paydowns • Replacement Reserves: Monthly deposits required • Minimum DSCR: 1.10 “As-Is”, 1.20 – 1.25 at Exit • Security: First mortgage lien on subject property. Additional credit enhancement to be determined • Maximum LTV: 90% “As-Is”, 75% – 80% at Exit. Required Reports: Narrative MAI Appraisal, Property Condition Assessment and Phase I Environmental • Interest Rate: Floating rate over LIBOR index, Spread varies based on risk and terms • Prepayment: Generally permitted • Eligible Property: Nationally located Apartments, Office, Retail, Hospitality, Industrial. No land development or special use projects • Subordinate Financing: Mezzanine provided by Same Lender/Investor or financing may be provided by an approved 3rd party lender • Eligible Borrower: Single asset special purpose entity • Lender Fee: Origination and exit fees to be determined.
Program 2: $200k-235 million +, High LTVs • True equity based lending. No income check available.
Nationwide - All 50 States • All situations considered including: Bad credit, bankruptcy, foreclosure • 24-48 Hour Approvals / Emergency Mortgage Closings • Quick Closings • Standard Rates: from 10.99 & up • LTVs up to 70% • based on actual property/project value • Updated Appraisal Ok • Immediate Site Visits.
Program 3: Loan Amount: $250k - $10MM • Documentation: No Doc • Index: N/A • Locations: Most Metro Areas • Min DSCR: N/A • Purchase & Refi • Amortization: Interest Only • Recourse: Full • Prepayment: Yes, Varies. (TVMR)
Program 4: Minimum Loan Amount: $1 Million, Eligible locations: Continental US
Eligible properties: Income producing commercial real estate properties including apartments, office, retail, self storage, hotels, mobile home park, light industrial and warehouse. Busted condo deals. Completion of construction on a partially built project if the project is substantially finished.
Eligible transactions: Acquisition or refinance, debt buy downs, D-I-P, BK. loan portfolio purchase financing, completion of construction (Will consider high vacancy depending on circumstances). A good FICO score helps but we will look at sponsors with lower scores.
Transaction size: $1 million - $50 million
LTV-LTC: Up to 65% of lesser of “As Is” appraised value or actual purchase price/project cost
Security: First mortgage lien on the subject property(s), assignment of all permits and approvals, assignment of leases, pledge of partnership interests, personal guarantee of principals, UCC on other collateral
Ownership: Single asset, special purpose entity.
Exit Fee: Negotiable
Prepayment: Permitted at any time but 6 months interest requirement
Interest Rate: Floor rate 10% up to 15%
DSC: Depends on transaction or interest reserve required.
Non-Recourse: Non-recourse is possible for quality deals; -otherwise recourse depending on transaction.
Loan Term: 12-36 months, negotiable
Partial Releases Releases for sold units at to-be-negotiated release prices.
Reserves Real estate taxes, hazard insurance, and mortgage interest if required
Second Mortgage: Possible with permission
Exit Strategy: Heavy concentration on value creation, market analysis and exit strategy.
Third Party Reports: MAI Appraisal, Phase I environmental, feasibility and others if required, ordered by Lender at expense of Borrower.
Closing Time: As short as 1 week based on complete file. 2-3 weeks for routine transactions. (TVSTCOCA)
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Hedge Fund Loans:
Loan Amount: Up to 80% of the Completed Value (Closing cost included) • Minimum Loan Amount: 10 Million • Terms: 3-7 years Bridge • No Prepay
Require Hedge Fund Bond to offset the Lenders risk • Bond acquired through xxxxxxx and loan guaranteed through one of Lending source: Bank of xxxxxxx(info available once client signs agreement) • Once the Insurance Company approves the Bond, Borrower will immediately wire 2% of the Bond amount • Rate: 12.99% • Closing Time:2-3 Months • Appraisal, Financials, and full file required.
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Private Money - Hard Money:
Program 1: Guidelines: Individual or Business Must pledge Real Estate and/or Financial security. Flexible Rates and Terms etc. Low FICO (sub 500), Minimum Loan Amount: $50,000 – Max. $100 Million, Rates: Minimum 8.99%, Interest Only, Points: Minimum 2, Term: Minimum 6-months, Maximum LTV 70%, Maximum LTC 50%, Turnaround Time: approximately 2- 3 weeks after LOI. Process: Application, Review, Acceptance, LOI, Closing. Please Contact our office for specifics.
Program 2: Loan Amount: 70% LTC or 75% LTV • 30% Equity required • Terms: 3-10 years or 25 years • Rate: 4.55%-8% • Construction, Bridge, Hard Money • Closing Time: 30-65 days • Full File required • No Lender fees, until Loan Contract is issued and Underwriting completed • Fully refundable • No Prepay • Fico Score not a factor • 30-40% Equity, Liquid Assets.
Bridge Construction and Income Stabilized Projects • Term:1-3 Years Interest only • Rate: Approx. 12.99% • LTV 50% (Finish Value) or 70% LTV For non-construction • Loan amount: 5 Million 1.5 Billion • Underwriting completed prior to issuance of LOI • Closing: 25-55 days • 25-35% assets.
Program 3: Hard Money International Loan, Minimum Loan $50,000,000 USD, USA and International.
Term: 10-15 yrs • LTV: Up to 100% • Funding Time: 3-4 weeks • No Upfront fees, except escrow and third party reports • Require: 10% Down, remains in escrow until closing.
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Commercial Joint Venture Funding:
Program 1: Loan Amount: 3mm-500mm • LTV: 100% Equity Financing • Term: 1,3,5,15 Years • Property Types: All Property types with 10-30% Equity gain • No Appraisal Required, BPO Accepted • Guaranteed Funding • Closing: 30-45 days • Prepay: None • Equity Split: 35-40%.
Program 2: Joint Venture (100% Funding) USA All Property Types:
Required Cash Injection (10-20%) • Loan Amount: $650,000-$1,500,000,000b USD • Profit Sharing: Starting at 28% • Closing Days: 30-120 days • Subject to Background check, Project’s Profitability, Exit plan and Net worth • Term: 3 yrs • Repayment Schedule: Profit sharing only • Due Diligence: Compliance, background, and escrow • Approval in 24-48 hrs.
Joint Venture Financing Structure:
Construction & Builder Financing • Land & Development Lending • Specialized Apartment Building Lending • Bridge & Short Term Lending • Term Financing Facilities • Conventional & Non-Conventional Financing • Short Term Bridge Lending • Equity & Participating Mortgage Loans • Joint-Venture Capital for Investment Properties • Joint-Venture Financing for builders & developers • Mezzanine & Subordinated Debt for long term acquisitions • Work Out & Debt Restructuring Loans • Special Situation Loans & Convertible Debt • Distress & Performing Mortgage Loan Purchases • Loan Syndication & Capital Market Investments • Equity Capital for Acquisitions & Restructuring • Debt Acquisitions.
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Commercial Loan, Construction, Sub Division, Apartment, Hotel, Office Building Warehouse and other All Property Types,:
Loan Amounts: $1,000,000 - $100,000,000 • Down Payment: 10-20%, remains in escrow until funding • No payments for first 24 Months • 5% thereafter • Prepay: 1 yr • Term: 10 yrs • LOI Presented within 72 hrs. Proof-of-Funds (10%-20%) Required.
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Business Loans - Business Lines of Credit:
NEED TO FUND YOUR BUSINESS? We’ll give you the help you need to accelerate your growth, solidify your revenues, and handle a broad range of legal issues small businesses face on a regular basis. And if you qualify we’ll acquire for you business lines of credit, and a government backed SBA loan. SBA loans are a great way to grow your business with low interest and easy monthly payments.
The Staff here at The Venture Capital Group NY Inc. understands that starting or growing a business is an exciting time, yet it can be stressful. We keep it exciting for you by taking care of one of the most difficult aspects, by obtaining your business finance. We quickly and easily guide you through a complicated lending process, and obtain the most money possible at the best terms available.
For years we have been helping people just like you legally structure their companies, find the right franchises, get the funding they need – and to achieve the American Dream of owning your own successful business.
From business reports to personal credit, from loans to lines of credit, from government programs to conventional banks, lending is a puzzle. If you do not understand the programs you risk denials, poor results, and high APRs. Setup the lending incorrectly and you jeopardize your assets such as your home and vehicles. Lucky for you our vast knowledge of business laws, banks, and lending programs will get you money fast, at the best rates, and spare you from worries in the future.
We consistently track a wide range of lending guidelines, criteria and matrices. Our extensive database tracks changes on a monthly basis. Variables we monitor include, but are not limited to:
- Amount of Funding Available Per Lender
- Regional and Industry Specific Lenders
- Special Offers & Promotions (such as 0% interest rates)
- Relationship banks willing to work with you when times get rough.
Our knowledge and experience gives us a distinct advantage over working alone. This knowledge guides our pre-application predictions, which have proven to be over 85% accurate – some of the most difficult times in lending ever for our country. With our help you’ll get your funding and have your business growing right away.
Funding Type:
Business Credit Cards:
Our most accessible funding type
• No business financials required (“No Doc” program)
• Variables used to determine eligibility: Personal credit, Industry Code, State/Location of business/officers
• Results will total $25K-$150K based on your prequalification review.
• Primary component of our Unsecured Business Finance Program
SBA Community Express:
• No business financials required (“No Doc” program)
• Variables used to determine eligibility: Personal credit, Industry Code, State/Location of business/officers
• Results will total $5K-$25K.
• Typically included with our Unsecured Business Finance Program
Bank Lines of Credit:
Business financials REQUIRED (“Full Doc” program)
• Variables used to determine eligibility: Business Tax Returns, Business Cash Flow, Personal Credit History, Industry Code, State/Location of business/officers
• Results will total $50K-$250K per line of credit acquired.
• Often included with our Enterprise Business Finance Program
SBA Loans (504 & 7a):
Business financials REQUIRED (“Full Doc” program)
• Variables used to determine eligibility: Business Tax Returns, Business Cash Flow, Personal Credit History, Industry Code, State/Location of business/officers, & Collateral
• Results will total $250K-$5M per loan acquired.
• Often included with our Enterprise Business Finance Program
Equipment Loans/Leases:
• Start-up companies typically get $10,000-$25,000
• Existing businesses can achieve much more
• Nearly all equipment qualifies, our list of approved equipment is extensive
Additional:
• IRA rollovers/cash-outs
• Vendor credit
Program 1: Conventional, FHA, SBA, Lines of credit, Proof of funds service, Leverage loans, land loans and Merchant Cash advance:
for small to large business • USA only • Up to 97% funding • Flexible terms.
Prefer income producing property, Min. fico 620. No Derogs past 2 yrs
Start Up Business Loans up to $200,000.
Secured Line of Credit up to $10,000,000 • Low Points and Rates • 65% Real Estate Value (Commercial Property Only) • Fast three week funding.
We offer customized financing solutions From A variety of Lenders/Investors for commercial investors nationwide. our Loan Programs are updated Periodically.
Program 2: Monthly processing: $750 per $1,000,000 in receviabes managed • Interest: 7.5% on outstanding balance • Amount lines: up to $1,500,000 • Terms: 12 months • Provide AR Aging, customer list and sales history to get started • Timing: Decision in 5 business days • Business line of credit • Receivables management services • including: credit approval and monitoring, payment tracking and collections, account reconciliation and bank deposit functions • 7x24 website access for transaction processing and all reporting • Customer support 8-5PM ET Works best for Business that sells on terms to other businesses and have quality receivables.
Can Not Approve: any company under $500,000/yr in pre-tax revenues/sales • any amount under $50,000 • Bankruptcies are usually a deal-breaker • any company that deals in B2C (or has a majority of its sales in B2C) • Construction and Sub-contractors are hard; they’re impossible to help if their contracts have “pay on pay” language (meaning that they are only paid when the General Contractor is paid) • Lender's Wheelhouse companies are Manufacturing, Wholesale/Distribution, Staffing, Consulting, Government, Telecom and Transportation companies. Lender will happily accept companies outside wheelhouse as long as they meet the stated requirements. TV-AR
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Standby Letter of Credit:
Loan Amount: Up to 100% Financing • Require a Standby Letter of Credit • from a A1/P1 Rated Bank • Direct Pay letter from Client’s Bank • Irrevocable LOI to Client for 100% of Loan Amount with Key Text Number (1 week Verification) •Letter of Credit Negotiable • • Terms: 1-3 Years • Rate: Approx. 3.55% • No Appraisal or Financials required. Borrower’s Bank confirmed through US Banking System.
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Proof of Funds:
We Offer Via our Lenders/Investors Proof of Funds for our clients who need to finish their business acquisition or other transaction and would like to indicate greater financial strength.
Accounts available from $100K to $5 billion • Money Market and Bank account options • No Credit Check Required • Client participates as account holder • Low monthly rates.
Stock (Security) Based Loans:
You can Borrow against the value of Your securities at below-market rates of 2.5% to 4.5%. We can help you obtain a favorable securities backed loan (not to be confused with a margin loan) substantially below the cost, rates and liabilities of a traditional mortgage or margin loan.
Below Market Interest Rates – fixed rates from 2.5% to 4.5%
No maximum loan amount - $100,000 minimum loan amount
High Loan Values – loan to security value ratios up to 80%
Non-Taxable event – as the securities are not sold
No Credit Reporting – nor is it reported to public records
Borrower Retains All Market Appreciation - borrower receives the benefit of any dividend or interest that the securities generate
This is a Non-Recourse Loan – a loan with no personal liability
Open to Foreign Nationals
Loan Proceeds May Be Used For Any Purpose - personal, business, etc.
Eligible Securities Include - publicly traded stocks, bonds, options and mutual funds.
Flexible Terms at Loan Maturity - the borrower may renew the loan, refinance, extend the terms or pay off the loan
Prompt Response to Your Loan Inquiry - usually within one business day of receiving the security information. Funds can be deposited into the borrowers account in five to ten business days once the contract is signed and the transfer takes place.
loans to Foreign Nationals
Great for Developer financing
Great for Fractional and Shared ownership properties
Borrower retains all beneficial ownership - NO NEED TO LIQUIDATE!!!
Borrower Retains All Market Appreciation
Borrower receives the benefit of any dividend or interest
Guidelines: Eligible securities are publicly traded stocks, mutual funds, fixed income securities as well as foreign positions on certain international exchanges.
Ineligible securities are securities owned in a privately held company and securities held in retirement accounts. (SEBAFUIN)
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