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Complete a free evaluation form (only takes about 10 minutes) and have an initial funding decision within 24 hours.

Small-Balance Commercial Real Estate Loans

Small Balance Commercial Real Estate Financing

This lending program is for borrowers seeking less than $10 millionIf you are looking for more than $10 million, please click here for more information.

To apply, simply complete the Project Summary Form, provide an executive summary of your project, and submit the $500.00 application fee using the Pay Now button to the left.

If you would like us to conduct a free preliminary evaluation of your project to insure that it meets our lender's criteria, click the FREE EVALUATION button to the left, and return the completed form.

Loan Types:  Commercial real estate acquisition, refinance and construction/rehabilitation, new development, etc.

Geographic Area: U.S., Canada, Mexico and the Caribbean

Financing Amount: Minimum loan amount is $500,000, maximum loan amount is $10 Million.

Property Types (in alphabetical order): Apartments, Assisted Living, Auto Malls/Auto Repair, Bed and Breakfast, Campgrounds, Car Washes, Convenience Stores/Gas Stations, Churches, Day Care, Dry Cleaners, Funeral Homes, Grocery Stores, Hospital/Medical, Hotel/Motel, Light Industrial, Medical/Dental Office, Mixed Use Properties, Mobile Home Park, Multifamily, Nursing Homes, Office, Restaurants/Bars, Retail, RV Parks, Senior Housing, Self Storage, Warehouse, Working Farms/Agricultural, etc.

Loan Terms: Terms will be determined by property type, loan amount and findings during formal underwriting.  Representative loan terms are 5-10 year term, amortized over 25 years.

Rates: Rates are usually calculated from cost of funds against Prime.  This is determined based on property type, loan amount and findings during formal underwriting. For new construction, rates are typically in the low to mid 8%'s.  For refinancing and/or acquisitions, rates are typically in the mid 6%'s.

Loan to Value: Up to 70% LTV on new construction and 80% - 90% LTV for refinancing and acquisitions, depending on property type, loan amount and other factors.

Debt Service Coverage Ratio (NOI/debt service):  Minimum 1.25x, varies by property type.

Recourse/Non Recourse:  This can only be determined through formal underwriting.

Turnaround Time: Usually a week or two to issue a Letter of Interest.

Underwriting Fee: $2,500 - $9,500 (depending on loan size) to cover underwriting costs; paid only after/if an LOI has been issued.

Application Process (typically 90-120 days from receipt of a full loan package):

  • Submit a Project Summary Form and executive summary or detailed description of the project;
  • Pay the $500.00 application fee using the Pay Now button to the left;
  • You will either receive a rejection or a Letter of Interest (LOI).  The LOI will articulate an initial rate and term that will be refined during underwriting.
  • If you are interested in moving forward you must submit the underwriting fee, as specified in the LOI, along with the signed LOI.
  • Once your project is placed in underwriting, you will be billed directly for any third-party reports that are required, i.e., appraisal, environmental analysis, feasibility study, etc.  However, we will attempt to insure that the deal fundamentals are sound before ordering any third-party reports.  This will help you avoid incurring additional costs unless absolutely necessary.
  • Approximately one week after receipt of the signed LOI and due diligence payment, you will receive a welcome letter.
  • Approximately one week receipt of the welcome letter you will receive a conditions letter that will provide a list of documents that must be submitted.

 

Ready to get started? Click here to download the Small Balance Loan Application.

Referrals: Click here if you have a commercial client you would like to refer.

Contact: For more information email us at info[ at ]gideongroup.net.

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