- $50,000 to $500,000 credit line
- No application fee; no appraisal fee
- 1% origination fee, maximum $5,000
- Up to 75% loan to value
Great For
- Funding property improvements
- Purchasing property or large equipment
- Expanding your business
Other Features
- Low closing costs
- Competitive rates
- Rate and fee match assurance so you are confident with the offer you are provided
Fees
Annual fee. Waived the first year, then 0.25% of the line amount during the 5-year draw period (with a minimum of $250 and maximum of $1,000)
Early closure fee. $3,000 if closed within the first 3 years
Eligible Property Types
- Office
- Retail
- Warehouse
- Light industrial
- Mixed-use
- Multi-family (5+ units)
- Commercial Condo (first lien position only)
- Special purpose (first lien position only)
- Auto repair
- Convenience store
- Convalescent home
- Health club or gym
- Assisted living facility
- Gas station (<10 years old)
- Self-storage
- Daycare or preschool
- Nursery
- Theater
Generally accepted special purpose
