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loans for Existing and Start-up Businesses
Eligible properties include but are not limited to:
1 Properties (up
Energy-Green Projects - Financing
for the construction and development of any qualified green energy
project, construction and development
Not For Profit
Projects - All churches and Christian Schools nationwide
requiring $150,000 or more in financing with a 3 year operating history.
Universities, Colleges and Hospitals requiring $500,000 or more.
Mixed-Use - Mixed-Use properties must contain at least one commercial unit (retail, office etc.) and at least one residential unit. If the primary use at the property is for commercial purposes, the property will fall under our mixed-use Tier 2 guidelines. The mixed-use property type can be classified in any tier depending on the percentage of the multi-family component and the type of commercial use.
Automotive - Automotive is a somewhat broad category and encompasses a variety of uses that support the automotive segment. Included within this category are auto repair shops, new and used car lots, part supply stores, quick-lube facilities, car wash, tire repair shops, etc. The type and size of building will vary with the use. Many buildings are designed specifically for the auto trade characterized by overhead doors, car lifts and usually a small office area.
Mobile Home Park - Mobile home parks are considered as long as not more than 25% of the total spaces are used for RVs. Mobile home parks vary in quality and amenities and all will be considered unless the RV component is too high.
Hotels/Motels With our industry knowledge and expertise, we feel we understand the non-flagged world of hotels and motels better than most lenders. Our valuation assumptions are based on facts relative to the specific property.
Office - Office buildings are buildings designed for general commercial occupancy and are normally subdivided into smaller units. Office use implies a general business use that does not include retail, manufacturing or warehouse type operations.
Retail - Retail buildings includes stand-alone buildings designed for retail sales and display and usually have display or decorative fronts. This retail classification encompasses a wide variety of uses including, but not limited to: markets, convenience stores, drugstores, department stores, big box retailers, barber shops, laundromats, offices, supermarkets, bakeries, and beauty shops - as well as strip centers, and neighborhood and community shopping centers, etc.
Self Storage - Mini-warehouses are warehouses subdivided into a mixture of cubicles of generally small size, designed primarily to be rented for small self-storage or noncommercial storage and may include some office-living space. This category also includes cold storage, RV and boat storage facilities, and truck terminals (transit facilities).
Warehouse - Warehouse buildings are designed primarily for storage purposes. An amount of office space included is usually commensurate with the quality of the building but typically rages from 3% to 12% of the total area. Plumbing and lighting are usually limited due to anticipated light personnel load. The design of the building usually includes a light frame with large open interior areas. Cold storage and transit warehouses (truck terminal) are included in this category.
Tier 3 Properties (up to 90% financing available)
Home - Funeral homes include
those used for viewing purposes as well as those that include embalming
Rooming House - Rooming houses are similar to that of multifamily but the nature of the occupancy is more transient. Rooms are rented on a daily, weekly or monthly basis and usually only include a bedroom. The residents share the bathroom and the kitchen. Rent paid usually includes all utilities and units may be furnished. Most rooming house properties contain less than 20 units.
Tier 4 Properties (up to 70% LTV and 90% CLTV financing available)
Day Care - Day Care Centers are early childhood, handicapped, adult, and senior care facilities; or developmental centers, such as kindergartens, nurseries, or childrens pre-schools. They have light kitchen facilities, activity rooms and multiple rest rooms, and are more residential in character than schools.
Health Care - Included in this category are all Assisted Living or Nursing Home types of operations where a license is required to operate the business. Quality and service levels vary considerably. Also included in this category are hospitals and medical treatment facilities, such as outpatient care or walk-in emergency medicine.
Restaurants - Restaurants are constructed for the purpose of preparation and sale of food and/or beverages, which include cafeterias, bars, and taverns, where design is of restaurant type. We offer competitively priced financing for a wide range of properties, including owner-occupied and leased facilities as well as fast-food and full-serve restaurants in neighborhood settings or urban.
RV Park - RV parks are those that are designed for recreational vehicles. May include mobile home pad rentals but will be considered an RV park if 25% or more of total park is for RV. Transient type occupancy is common.
Living Facilities and Adult Congregate Living Facilities -will
be considered for SBA, conventional and high LTV funding available.
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