A complete initial package must be provided in order to review projects. Our typical loan amount is $100,000 to $25 Million.
A loan package includes:
-Loan application with supporting documents.
-Last 3 years tax return and current year to date financial statements.
-Appraisals if available.
-Digital photos of the property and buildings (and any properties to be acquired through the financing).
-Estimated use of funds (as detailed as possible).
-Maximum Loan to Value: 80%
-Maximum Debt Service: 33%
-Minimum Debt Coverage: 1:1