Multi-Family 5 Plus Units: We offer Stated Income programs that do not require personal or business tax returns. Our minimum debt coverage ratio is 1.15%. Property rent roll and 2 years income and expense statements are required. We offer 3, 5, 7 and 10 year fixed/adjustable programs with a 30 year amortization.
Shopping Center, Strip Center, Strip Mall: Please provide the rent roll, personal financial statement and 3 years personal tax returns for all guarantors. We also require the last 3 years business tax returns, when applicable, for borrowers. Other documentation will be requested based upon the type of transaction.
Office Building, Industrial, Warehouse, Retail: We offer financing for office buildings, industrial, warehouse and retail properties. Our minimum debt coverage ratio is 1.25%, and minimum loan amount is $350,000. We have 3, 5 and 7 year fixed/adjustable loans with a 30 year amortization. Loan to value ratio cannot exceed 70%.
Gas Station: Please tell us if you have direct management experience and if there are any known environmental issues for the property. Please provide a personal financial statement and 3 years business tax returns. A current financial statement on the business will also be helpful.
Commercial Construction: We can assist in the financing of construction for multi- family units, commercial and industrial buildings. Our minimum loan amount is $350,000. The term is usually 12 months. An optional 6 month extension may be available. Loan to value ratio between 60% to 70%.
Mixed-Use: Mixed-use properties typically contain a combination of commercial (most often retail space) as well as residential units. The documents needed are a current rent roll, income and expense statement, summary of all commercial leases, personal financial statement and last 2 years personal tax returns.
SBA loans: SBA loans provide long term financing. These loans can be used for the purchase of owner occupied business real estate. Commercial, industrial and retail type properties are eligible. The SBA program often provides loans for businesses that would not qualify elsewhere. For real estate, properties financed by the SBA must be at least 51% occupied by the owner’s business. New construction must be at least 60% owner-occupied. SBA loans can also be used to acquire a business with or without real estate.