From $500,000 to $10 million; preferred loan size between $2 million and $7 million
Up to 70%; typical LTV is 60-65%
1-5 Years; preferred term is 2-3 years
For lease-up costs and earn-outs
First Deed of Trust or mortgage on commercial property
Other collateral or liquid assets may be pledged as credit enhancement for the loan
Typically non-recourse with standard carve-outs
Variable or fixed
Variable: LIBOR + Credit Spread
Fixed: Swap Yield + Credit Spread
Based on property and loan characteristics, typically from 7% to 10%
Typically starts at a couple of points depending on transaction,, and can be wrapped into the loan so that it is not out of pocket
Typically waived after a short lock-out period
Nationwide