Money for housing and commercial loans is coming back!
Until recently, commercial loans were pretty tough to come by. But I am happy to say, that now I am receiving emails looking for projects to lend on. That is certainly a sign of us pulling out of this recession. While job losses lag a recession econcomy by 6-8 months (meaning job losses continue for 6-8 months after the recession is ended), residential real estate leads it by 4 months (if recession ends Dec 31, housing starts recovery Aug 1st!). And it looks like there is some glimmer of hope that commercial may be trying to come back. Here is the info I just received about the availability of commercial loans.
Commercial Real Estate, Business & Construction Loans!
TYPE(S) OF PROJECTS: Apartment, Industrial Building, Office (Multi-Tenant), Office (Single-Tenant), Retail (Anchored), Bridge Loan, Interim Construction Loan, Land Acquisition, Joint Ventures, Mezzanine, Assisted Living Facility, Congregate Care Facility, Independent Living Facility, Medical building, Medical Practice, anything Medical, Gas Station, Church, Restaurant, Car Wash, Mixed Use, Warehouse, Storage Yard, Student Housing, Parking Garages, Golf Courses, Casinos, Senior Citizen projects, Marinas, Ranches, Oil, Gas, Coal, Carbon Credits, Commercial 2nd TD’s
SBA: 10% Down, Owner Occupied; also Construction and Business Loans
Private Money: Rates starting at 8.85%, interest only.
Capital Markets: Multi-family, retail office, hotel, industrial, medical office, self storage; 5 million minimum in excess of $25 million.
Private Investment Banking: $500,000,000
Conduit Loans: No Limit
Security Based Lending: “The Equity Alternative.”
Below Market Interest Rates – fixed rates from 2.5% to 4.5%, High Loan Values – loan to security value ratios up to 80%
Hard, Hard Money: Property Types 1 Multi-Family, Office, mixed use, general purpose industrial/warehouse, mini-storage 2 Light industrial, manufactured home parks, commercial condos, convenience store, retail 3 Residential condos, flagged hotels/motels, churches, RV parks, assisted living facilities, auto related, heavy industrial, SFR’s 4 Non-flagged hotels/motels, B&B’s, land, bowling alleys, equestrian facilities, gas stations, agricultural properties, taverns, restaurants, any other special use.
Hot: funding SBA 7a and USDA B&I loans: SBA loans to $ 2,000,000.00
B&I loans to $ 5,000,000.00: Hotels/ Motels, Medical/ Dental, Commercial/ Industrial Manufacturing Auto Repair Facilities, Gas Stations, Care Homes.