| Eligible Locations: |
The U.S. excluding: Alaska, Hawaii |
| Property Types: |
SBA 504 eligible property types |
| Loan Amount: |
Same as CDC 2nd loan |
| Loan Term: |
120-180 days |
| Loan to Value: |
Up to 90% LTV on commercial real estate acquisitions and refinances. |
| Typical Situations: |
Acquisition financing, light renovation and construction |
| Property Types: |
Hospitality, Single and Special Purpose |
| Processing Fee & Expense Deposit: |
Expense deposit required to cover 3rd party reports and underwriting fees |
| Reserves: |
TI&LC / CapEx Reserves. |
| Sponsor/Borrower: |
Personal credit score of 675 or better. |
| Borrowing Entity: |
Operating entity occupying the property or special purpose entity. |
| Recourse: |
Full recourse. |
| Assumability: |
Not assumable. |
