Commercial Loan Options & Eligible Properties 

 

Contact Commercial Lending
MON-FRI: 8:00 a.m. - 5:00 p.m. CST Kansas City area: 816.316.4000, option 5, option 2
All other areas: 800.677.6272, option 5, option 2


         

 

      GENERAL TERMS & PRICING

 

Loan Amount $500,000 - $2,500,000
Interest Rate Fixed interest rate, or spread versus U.S. Treasury security, to be determined based upon individual project risk
Rate Lock Locked at commitment
Term 3 to 10 years
Amortization 5 to 20 years; 25 years may be available with newer properties or certain property types
Loan-to-Value Up to 70% of appraised value; Credit tenant properties according to tenant.
Application Fee None
Asset Types Single Tenant/Credit Tenant, Office, Quick Serve Restaurants/Casual Dining with long term corporate leases, Multifamily with very low leverage
Debt Coverage 1.25x based on stabilized net operating income; exceptions on lenderís approval
Prepayment No lockout; Fee is typically from 1% to 3% depending on rate and term
Operating Reserves Typically none; determined on individual project/loan structure
Security First lien position, lease assignment; other collateral upon lenderís approval
Recourse Non-Recourse
Subordinate Debt No
Standard Provisions Third party reports (appraisal, survey, etc); Escrows for taxes and insurance; Minimum occupancy requirements; Annual financial reporting on property operations and borrowers
Assumption Subject to lenderís consent and payment of assumption fee
Underwriting Underwriting decisions made within 48 hours of submission of complete package
Closing 60-day allowance; Typical closing within 48 hours of submission of all third-party reports and appropriate documentation

 

        

  

      RECENT TRANSACTIONS
 

.
$1,725,000

Acquisition

Walgreens

Byron, MI
.
$1,470,000

Acquisition

GSA Office

Kemmerer, WY
.
$1,250,000

Acquisition

Burger King

Summersville, WV
.
$1,070,000

Acquisition

O'Reilly's

Visalia, CA
.
$620,000

Acquisition

Dollar General

Van Buren, AR
.
$590,000

Refinance

7 Ė Eleven

Pineville, WV
 
$350,000

Acquisition

Multifamily

Olathe, KS