Bridge Loans

Commercial Bridge Loan Lending
Structured financing, customized for value-added projects nationwide.
Property Type
Class I: Multifamily (5+ Units) & Mixed-use
Class II: Office, Retail, Warehouse, Self-Storage, Automotive Services
Transaction Type: Property Acquisitions, Repositioning & Recapitalizations
Loan Amounts: $1,000,000 to $10,000,000
Max LTV/LTC: 70% / 75%
Minimum FICO: 650
Rate: start from 7.99% (depends on loan size and LTV)
Fixed Period: 2 & 3 year options
Amortization/Term: Interest only / 2-3 year initial term, with 12 month extensions
Extension Terms: WSJ Prime + 4.50 %, floored at initial fixed rate
Rate Caps: 2 % first adjustment, then 1 % periodic 2 % annual – 6 % life over start
Prepayment Penalty: 5 % for 1 year. No penalty thereafter.
Future Advances: Yes, available for all related hard & soft property improvement costs
Proforma DCR Requirements: Class I: 1.20x, Class II: 1.25x
Recourse: Generally required, depending on leverage, sponsorship, & capital structure

Other Bridge Program Guidelines:
– Experienced sponsorship required
– Good Faith Deposit required for third party reports
– Lender to order all appraisals through preferred network
– Impounds for property taxes and insurance required
– No secondary financing allowed
– Extensions subject to no events of default & property review
– Nationwide program, major metro areas preferred

Eligible States:
Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Idaho, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, Texas, Utah, Virginia, Washington, West Virginia, Wisconsin, Wyoming

Minimum population is generally 25,000 unless the town is within 25 miles of a city of 100,000 population.