Tel: 800-497-8606


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Main Office
    9008 McFarland Way
    Keller TX 76248

New York Office
    131 South Herman Avenue
    Auburn, NY 13021

Louisiana Office
    2930 Banks Street
    New Orleans, LA 70119

Tel 800-497-8606


Owner-Occupied Business/Real Estate Loans
Minimum $1,000,000

Permanent first mortgage loans on select commercial real estate properties with the following rates and terms:
Objective Provide permanent financing on owner-occupied property for successful cash-flowing businesses where the owners have good credit ratings.
Eligible locations: Continental US
Eligible properties: Owner-occupied (51% or more), single or multi-tenant, commercial real estate properties. Industrial, warehouse, retail, office, mixed use, special purpose and more.
Business type: Established, cash-flowing business. Start-up businesses are not eligible.
Occupancy: Multi-tenant is permitted, but owner must occupy at least 51% of the property
Eligible transactions: Acquisition or refinance
Transaction size: $1 million to $7 million
The lesser of : “As Is” appraised real estate value or actual purchase price:
Purchase - LTV/LTC:
FICO LTV/LTC
650+ 75%
Higher LTV's with additional pledged collateral (sba 504 loan program ) 90%
Refinance - LTV Based on "As-Is" appraised market value:
FICO LTV
650+ 75% cash-out case by case
Adjustable rates:
Index Adjustments Term Amort
Prime Quarterly 25 yrs 25 - 30 yrs
Prepayment Penalty
5,4,3,2,1% or 5% for 5 years
Security: First mortgage lien on the subject property, assignment of all permits and approvals, assignment of leases. Possible security interest in receivables, inventory, fixtures, equipment, furnishings or other collateral.
Ownership: Single asset, special purpose entity.
Application Fee: Fee of $1,500 to $2,000 is due with the signed Application, depending on property location and transaction size.
Origination Fee: 1% to 3% payable at Closing
Prepayment: Up to 20% of principal balance may be repaid annually without penalty.
Commitment Deposit ½ of 1% of loan amount or $10,000, payable upon acceptance of Loan Commitment depending on loan program for 3rd party costs, legal and closing. Balance applied towards Origination Fee or refunded at closing.
DSC: Minimum of 1.25 - Net business income (EBITDA) plus rents from other leased spaces, if any.
Recourse: Full Recourse.
Credit Enhancement Secondary lien on additional collateral may be required for credit enhancement
Escrows: Real estate taxes, hazard insurance. Optional
Second Mortgage: Permitted with permission of Lender based on consolidated DSC (excluding loans over 80%).
Third Party Reports: Appraisal, Phase I environmental and others if required, ordered by Lender at expense of Borrower.
Closing Time: 45 - 75 days from completed Application.

At no charge, a detailed loan offer will be forwarded upon completion of initial analysis.
BROKERS ARE PROTECTED

© Sterling Commercial Capital,May, 2010 Subject to Change Without Notice