TERM:
Our offer is usually 24 months with an option for 12 additional months.
PREPAYMENT:
Most offers come with a 12 month prepayment penalty
USE OF PROCEEDS:
Loans are made for business purposes only.
LOAN TO VALUE:
Loan amounts can be up to 55% Loan to Value. This is based upon an investor ordered MAI appraisal based upon a complete marketing time. If the loan is used for renovation or construction, the loan amount can be based on the improved value, and would be disbursed in stages.
RATES:
Rates start at 3% over prime, interest only, depending upon collateral and loan structure.
EQUITY:
We do not take equity positions
LOAN SIZE:
$1,000,000 up to $75,000,000
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