Small Balance Loans
Thank you for your interest in a our Small Balance Commercial Loan Program. If you seeking a Small Balance Commercial Loan we encourage you to fill out our Small Balance Quick App .
Small Balance Basic Criteria:
The following information is not all inclusive and subject to change.
Minimum Loan Amount:
$100,000
Maximum Loan Amount:
$8,000,000
Maximum LTV:
Purchase: 80% on most Property Types – up to 90% for Offices-Condo/Medical Buildings, Light Industrial or Warehouse, Retail/Stand – Alone Stores (55% on Multi-Use)
Refinance: 55% on most Property Types – exceptions to 60 depending on Property Type
Up to 65% on Offices-Condo/Medical Buildings, Light Industrial or Warehouse, Retail/Stand-Alone Stores
Minimum Debt Service:
1.25% on Owner Occupied Properties
1.40% on Non Owner Occupied Properties
Available Terms:
Quarterly Adjustable – adjusts every 3 months
3 Year Fixed – resets every 3 years
5 Year Fixed – resets every 5 years
Amortization:
Most Properties have a 20 Year Amortization with the exception of the following: All Offices-Condo/Medical Buildings, Light Industrial or Warehouse, Retail Centers/Stand-Alone Stores which will allow for up to a 25 year term.
Territory:
Nationwide for Owner Occupied Properties
No Non Owner Properties in the following States: AL, AR, AZ, CA, FL, IN, LA, MI, MS, NV or OH.
Acceptable Property Types:
All Offices-Condo/Medical Buildings, Light Industrial/Warehouse, Retail Centers,Stand Alone Stores, Heavy Industrial including Factory and Manufacturing, Schools/Day-Care Centers, Vehicle Dealers (no boats), Car/Truck/Vehicle Auto Center, Funeral Homes (no cemeteries), Salons/Spas/Barber Shop, Retail Dry Cleaner/Laundromat, Restaurants (no clubs without food), Oil/Lube Service Centers, SFR Conversion (Commercial Use only), Any/All Metal Buildings, Assisted Living Centers (39 States only), Self Storage (39 States only) and Mixed -Use (with 40% Minimum Commercial/Apartments).
Non Acceptable Properties on this Program:
Any Non Owner Occupied Properties in AL, AR,AZ,CA,FL,IN,LA,MI,MS,NV or OH.
Car Washes, Convenience Stores with Gas Stations and Gas Stations, Hotels or any Hospitality, Churches or Church owned Properties, Multi-Family and Apartment Complexes, Junkyards, Mines, Recycling Facilities, Mobile Home Parks and R.V. Parks or anything on Leased Land.
Loan Costs:
Typical Costs include the following:
$500.00 Processing Fee to Alliance Business Capital – only payable on loans that actually enter into processing – non refundable.
Investor Fees:
$2500 “Good Faith Deposit” – Application and Underwriting fee – ($1500.00 for loans under $200,000). Partially Refundable, maximum of $1000 if and only if the Complete Loan Package is received within 30 days and is then declined by the Bank.
Bank Closing Costs: $1300.00 Estimated
Property Survey/Inspection: $1000 to $1250 (if required due to age/use)
Appraisal Costs: Typically $1000 – $3000 (varies widely depending on property type, location etc)
Closing Fee: Determined by Closing Agent and varies by State/Location
Origination Fee:
The Bank charges a 2.00% Origination Fee on this program. Additional Fees to Alliance may also be applicable.
Prepayment Penalties:
Typically 5%,4%,3%,2%,1%
Please fill out this online questionnaire on all Small Balance Commercial Loans or if you just have a quick question please use our contact form.
PDF