The continued challenges facing the commercial real estate lending markets and the significant reductions in SBA 504 real estate loans have left many commercial real estate borrowers with fewer funding solutions.I have reached an agreement with one commercial bank to help fill some of that void for commercial real estate loans between $1 million and $4 million.
While the underwriting guidelines are tight, they reflect the current market for credit conditions.
This nationwide lender will consider a wide variety of multi-purpose commercial real estate property types - industrial, warehouse, office (including medical office) and manufacturing - for both owner occupied and investor owned properties. Sorry, no gas stations, car washes or convenience stores.
In general, expect advance rates up to a maximum of 65% loan to value, fixed rate terms up to ten years and amortizations as high as 25 years. Debt service coverage ratios start at 1.20 times for owner occupied and 1.40 times for investor owned property.
All loans are full recourse to the borrowers. The interest rates are very competitive with commercial real estate loans offered by other banks.
These loans can be use for both commercial real estate acquisition and re-finance opportunities. Even "cash out" is permitted if certain criterion are met.
Need help finding the right commercial real estate lender or telling your story the right way for your California business? Read "Matchmaking for Business Loans" and give me a call!
Tags : commercial real estate loans , commercial real estate , real estate bridge loans , private money loans
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