Commercial Loans Small Wholesale Mortgage

Commercial Loans Small Wholesale Mortgage
Small Wholesale Program ($1 Million to $5 Million)

Commercial Loan Direct offers a very competitive and flexible smallcommercial wholesale loan program.
LOAN ELIGIBILITY
Loan Criteria for Owner Occupied and Investor Properties
Satisfactory loan payment history
Fixed rates and variable rates
Fixed rates tied to SWAPS, variable interest rates tied to the Prime Rate
Loan-to-value up to 75% stand alone and 90% with SBA-504 companion
Loan maturity and/or amortization not to exceed 20 to 25 years
Loan amounts could go up to $6,000,000 (case by case)
First mortgage on owner occupied and investor commercial properties
Credit Approval Criteria
First lien position on commercial real estate
All loans fully amortizing (no balloons) up to 25 years for multi-use properties, up to 20-25 years for special use properties, 15 years for car washes
Lender retains 0.50% of the SBA 504 first mortgage loan fee for the SBA "fee" on direct funding situations
Cash Flow/Debt Coverage
Minimum DSC of 1.20x on all existing and proposed debt as of last FYE
Loan to Value
(*) Multi-use <= 90% SBA 504 (warehouse, manufacturing, office, retail, medical office)
(*) Multi-use <= 75% (warehouse, manufacturing, office, retail, medical office)
(*) Special Use <= 65% (new auto dealers, automotive repair shops, grocery stores, funeral homes)
(*) Special Use <= 60% (restaurants, daycare, car washes, assisted living centers, etc.)
(*) Hotels/Motels Up to 85% with SBA Companion. Stand Alone LTVs up to 65% for newer, flagged, interior corridor properties with fewer than 100 rooms and a minimum 1.4x DSC for the past two years <= 55% on most older properties (according to Lender's valuation method)
(*) Gas Stations <= 50% (according to Lender's valuation method)
Investor Properties

The eligibility criteria for investor loans are the same as for owner occupied loans for collateral, maximum loan amounts, pricing, and LTVs. Differences are as follows:
Minimum 20% equity of the lower of purchase price or appraised value
No gas station/c-stores or car washes
Borrowers must be current or previous owners of investor properties
Minimum 1.2x DSC for past two years
20 year maximum maturity and amortization

Call for detailed eligibility, underwriting, and valuation criteria.
Start-Up Businesses
Prior industry management and ownership experience
20% equity of hard project costs plus working capital and inventory
Outside sources of cash flow to service > 30-50% of proposed debt
Non-Eligible Properties

Ground leases, 1-4 family residential properties, mobile home parks

Availability: Nationwide

Apply for a Small Wholesale Commercial Loan

(*) LTVs could be higher if loan qualifies and is done with a SBA 504companion.