Asset Financing Group, Inc. provides the following loan programs:
Apartment Loans: We offer full- and non-recourse fixed and adjustable rate loans for the purchase or refinance of apartment buildings (5+units). Our Apartment Loan Program ranges in loan size from $500,000 to $5,000,000. Balloon loan terms of 5, 7, 10, or 15 years with amortizing periods up to 30 years or fully amortizing loan terms up to 15 years are available. Non-ballooning, fixed interest-to-floating rate loans are also an option. Properties must demonstrate 90% occupancy for 90-days to qualify and borrowers must be able to show proof of liquid assets to service the loan payments for a minimum of 6 months. Borrowers need to be experienced operators of multi-family properties.
Commercial Real Estate Loans: Long-term, fixed-interest rate commercial real estate financing is available for high-performing properties with very strong borrowers. Typical commercial property types include stabilized office buildings, retail centers, mixed-use properties, light industrial buildings, hotel/motel, and churches, to name a few. Borrowers must provide documented commercial real estate experience, strong financials, and good to excellent credit. Our Commercial Real Estate programs start with a minimum loan size of $1,000,000 and go up to $50,000,000.
Commercial Bridge Loans: Since commercial financing is more difficult to come by these days, many borrowers are turning to shorter term, bridge loans to purchase and/or refinance commercial properties. Our Commercial Bridge loan program will not consider collateral related to raw land, development deals, ground-up construction (except owner occupied - see below), or one-of-a-kind type properties also known as special purpose.
Our Small-Balance Bridge Loan program is geared towards small- to medium-sized loans in the range of $250,000 to $2,000,000. Our Jumbo Commercial Bridge Loan program is for loan sizes between $2,000,000 to $50,000,000. For either Commercial Bridge loan program, the maximum loan-to-value is 65% with a combined loan-to-value of 85% on selected property types. Loan terms are for 3 to 36 months with interest-only payments. For these Commercial Bridge loan programs, borrower's credit and income are less important than property equity and quality.
Owner-Occupied Commercial Real Estate Financing: We offer loans to small business owners for the purpose of buying or refinancing owner-occupied real estate; owner-occupied ground-up new construction or expansion; purchase of machinery and equipment in conjunction with real estate; and working capital when financed with a real estate purchase. Small business financing is primarily available through Small Business Administration (SBA)-guaranteed loan programs. The loan size ranges from $250,000 to $5,000,000. Owner-occupancy is defined as the borrower's business must occupy a minimum of 51% to 60% of the gross square footage of the property. In some cases depending on the loan size and purpose, a first and second mortgage combination might be offered. Fixed and adjustable interest rate options exist. The maximum loan-to-value is 90% for established businesses that have been in existence for at least two years.