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This came in from Jim H. a Commercial Banker whom I have worked with for several years on small transactions. This arrived June 10, 2009
We are CLOSING Deals
OWNER–OCCUPIED/OPERATED PURCH. or NEW CONST. to 90% LTV
|
Property Type
|
Loan Amount
|
LTV-SBA
|
Floating
|
3-Year Fixed
|
5-Year Fixed
|
Term
|
|
Office Bldg./Condo.
|
$100,000 to $5,000,000
|
90% Max.
|
5.75%
|
7.45%
|
8.15%
|
25 Years
|
|
Office-Warehouse
|
$100,000 to $5,000,000
|
90% Max.
|
5.75%
|
7.45%
|
8.15%
|
25 Years
|
|
Light Manufacturing
|
$100,000 to $5,000,000
|
90% Max.
|
5.75%
|
7.45%
|
8.15%
|
25 Years
|
|
Multi-Store Retail Ctr.
|
$100,000 to $5,000,000
|
90% Max.
|
5.75%
|
7.45%
|
8.15%
|
25 Years
|
|
Newer Flagged Hotel
|
$100,000 to $5,000,000
|
85% Max.
|
6.00%
|
N/A
|
8.90%
|
25 Years
|
|
Heavy Manufacturing
|
$100,000 to $3,000,000
|
80% Max.
|
6.00%
|
8.20%
|
8.90%
|
20 Years
|
|
Charter School
|
$100,000 to $3,000,000
|
80% Max.
|
6.00%
|
8.20%
|
8.90%
|
20 Years
|
|
Day Care Center
|
$100,000 to $3,000,000
|
80% Max.
|
6.00%
|
8.20%
|
8.90%
|
20 Years
|
|
Auto. Service Garage
|
$100,000 to $3,000,000
|
80% Max.
|
6.00%
|
8.20%
|
8.90%
|
20 Years
|
|
Assisted Living Home
|
$100,000 to $3,000,000
|
80% Max.
|
6.00%
|
8.20%
|
8.90%
|
20 Years
|
|
Retail Store
|
$100,000 to $3,000,000
|
80% Max.
|
6.00%
|
8.20%
|
8.90%
|
20 Years
|
|
Day Spa/Salon
|
$100,000 to $3,000,000
|
80% Max.
|
6.00%
|
8.20%
|
8.90%
|
20 Years
|
|
Funeral Home
|
$100,000 to $3,000,000
|
80% Max.
|
6.00%
|
8.20%
|
8.90%
|
20 Years
|
|
Restaurant
|
$100,000 to $3,000,000
|
80% Max.
|
6.00%
|
8.20%
|
8.90%
|
20 Years
|
NON-OWNER–OCCUPIED PURCH./CONST. & ALL REFI’s up to 60% LTV
|
Property Type
|
Loan Amount
|
Max. LTV
|
Floating
|
3-Year Fixed
|
5-Year Fixed
|
Term
|
|
Office Bldg./Condo.
|
$100,000 to $4,000,000
|
60%
|
6.00%
|
7.70%
|
8.40%
|
20 Years
|
|
Office-Warehouse
|
$100,000 to $4,000,000
|
60%
|
6.00%
|
7.70%
|
8.40%
|
20 Years
|
|
Light Manufacturing
|
$100,000 to $4,000,000
|
60%
|
6.00%
|
7.70%
|
8.40%
|
20 Years
|
|
Multi-Store Retail Ctr.
|
$100,000 to $4,000,000
|
60%
|
6.00%
|
7.70%
|
8.40%
|
20 Years
|
|
Newer Flagged Hotel
|
$100,000 to $4,000,000
|
55% to 60%
|
6.25%
|
N/A
|
9.15%
|
25 Years
|
|
Heavy Manufacturing
|
$100,000 to $2,500,000
|
50%
|
6.25%
|
8.45%
|
9.15%
|
20 Years
|
|
Charter School
|
$100,000 to $2,500,000
|
50%
|
6.25%
|
8.45%
|
9.15%
|
20 Years
|
|
Day Care Center
|
$100,000 to $2,500,000
|
50%
|
6.25%
|
8.45%
|
9.15%
|
20 Years
|
|
Auto. Service Garage
|
$100,000 to $2,500,000
|
50%
|
6.25%
|
8.45%
|
9.15%
|
20 Years
|
|
Assisted Living Home
|
$100,000 to $2,500,000
|
50%
|
6.25%
|
8.45%
|
9.15%
|
20 Years
|
|
Retail Store
|
$100,000 to $2,500,000
|
|
|
..
MINIMUM Credit Requirements (ALL Loans/Properties):
– Guarantor(s) MUST show proof of 9 – 12 Months Reserves and Credit Card Balances UNDER $65,000.
– N.O.O. Borrowers Must have Outside Income to cover Personal Living Expenses AND 25% of Mortgage.
– Property held less than 5 Years will be Valued at Purchase Price plus Paid Capital Improvements.
– Owner Occupied Business –OR– SINGLE Tenant MUST be Profitable on 2007 & 2008 Tax Returns.
– 660 Minimum (720 for ANY Construction) Experian FICO on Owner Occupied or N.O.O. Properties.
– Mortgage Payments, Property Taxes and Payroll Taxes must be Current PRIOR to Underwriting.
– NO Cash-Out Available EXCEPT for Property Improvements and/or Loan Costs ONLY.
– MINIMUM Population Base of 40,000 (City/Town/County).
– NO Bankruptcies or Foreclosures for 10 Years.
Properties we just Can NOT Finance-
ANY RESIDENTIAL Development/Subdivision/Project/Condos/Fractionals/etc.
– NEW Business Start-Ups as Primary Tenant (Except Major Franchises)
– Any VEHICLE DEALERS (Cars/Trucks/Motorcycles/RV’s/Boats/etc.)
– Warehouse/Industrial Over 60,000 sq.ft – OR – Over 60 Years Old.
– Car Washes, Convenience Stores (w/ Gas) and Gas Stations
– ANY Hotels/Motels/Bed & Breakfast Built BEFORE 1989.
– CHURCHES and most Church-Owned Facilities
– Multi-Family and APARTMENT Complexes
– Mobile Home Parks and R.V. Parks
One reply on “Small Balance Commercial Loans $100,000 to $5 million”
If you need a small commercial loan and you banker has said, “NO!!!: This is the way to go. I have known this banker for several years. Meet his rules and you’ll be funded just as hundreds of others have.