COMMERCIAL
LOAN
DEPARTMENT
The
Commercial
Loan
Department
offers
Commercial
Loans,
Construction
Loans
and
Mezzanine
Loans.
The
Commercial
Loan
Department’s
customers
are
developers
or investors
that require
short-term
financing to
efficiently
leverage
their
investment
in real
estate
properties.
These loans
have
maturities
linked to
the
projected
completion
of the
borrower’s
business
plan for the
property.
The majority
of these
loans have
initial
terms of six
months to
two years.
Commercial
Loans are
interim
loans
secured by
mortgages on
real estate
such as
land, income
producing
commercial
buildings,
or
multi-family
apartments
to be
maintained
as rental
units or to
be converted
and sold as
condominiums.
The income
producing
properties
have often
suffered
from weak
management
and are
often being
repositioned
in the
market
through a
change of
tenancy,
renovation,
or apartment
to
condominium
conversion.
Land loans
are usually
made to
facilitate a
period of
transition
whereby the
land is
being
rezoned,
entitled or
in some
other stage
of
development
process
prior to a
construction
period.
Contact us
for more
information
on our
Commercial
Loans.
Construction
Loans are
interim
loans
secured by
land and the
building
being
constructed
on it.
The
Company’s
Construction
Loans
include
residential
for sale
housing
projects,
multi-family
housing as
well as
commercial
property.
The Company
looks for
experienced
and
creditworthy
developers
capable of
supporting
and
completing
their
developments.
The Company
underwrites
to the
necessary
criteria for
projects to
be sold or
refinanced
upon
stabilization.
Contact us
for
information
on our
Construction
Loans.
Mezzanine
Loans are
subordinate
to a first
mortgage
loan
(Commercial
or
Construction
Loan) and
senior to
the
borrower’s
equity in a
transaction.
Mezzanine
Loans can
incorporate
a variety of
equity and
debt
combinations
and can be
structured
to emphasize
debt or
equity
characteristics.
The primary
repayment
source for
Mezzanine
Loans is the
sale or
refinance of
the real
estate
property.
Mezzanine
Loans are
often
beneficial
to borrowers
in that they
provide
increased
leverage on
the
borrower's
investment
at a lower
cost than
an
additional
equity
partner
would
command.
Contact us
for more
information
on our
Mezzanine
Loans.
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