Commercial/Construction Loans - MetroCity Capital Group

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Commercial/Construction Loans

Loan Types

The Advantage
Fast pre-approvals within 3 to 5 business days
Deal directly with the Loan Officer/Underwriter
Fast closings
Loans available to Borrowers with excellent to less than perfect credit

We Offer Non-Conforming (Non-Bankable)
Loans on Commercial Properties for:

Bridge Loans
Short Sales / Bank Workouts
Bankruptcies / Foreclosures
Limited Income
Weak personal financials
Foreign Nationals

Property Types
Multi-Family (5 – 25 Units)
Retail Building
Light Industrial
Office Building
Mobile Home Parks
Other types considered

General Terms
Loan Size: $100,000 to $2,500,000
Rates: 8.95% to 10.95%+
Loan Fees: 1.50% to 2.50%+ (Based on overall Borrower qualifications)
Pre-payment: Allowed without penalty
Application Fee: $450
Underwriting Fee: $450
Term: 1 to 5 Years
Loan to Value: Typically 55% to 70%, however, up to 75% possible on high quality properties and/or high quality Borrowers. (Cross collateralization allowed on other properties, if needed, for maximum or greater loan amounts)
Maximum Broker Fee: 1.50% to 2.00% (subject to Broker Compensation option)
Minimum cash down from Borrower: 25% down on the purchase price plus closing costs
Owner and non-owner occupied commercial properties are eligible

*Subject to change without notice

Loans available in the following states: AK, AL, AR, CA, CO, CT, DE, FL, GA, HI, IA, ID, IN, KS, KY, MA, MD, ME, MI, MO, MS, MT, NC, NE, NJ, NM, NY, OH, OK, OR, PA, RI, SC, TN, TX, UT, VA, WA, WY

Commercial Construction Loan

This program is designed to provide a business loan to construct a commercial property (Office Buildings, Retail Stores, Shopping Centers, Warehouse/Flex Space, 5+ Multi-Family units and most other income generating properties).

The Advantage

Fast pre-qualification, typically between 3 to 5 business days
Deal Directly with Loan Officer/Underwriter
Fast Closings
Loans are available to Borrowers with excellent to less than perfect credit
Flexible draw schedules

General Terms
Loan Amounts: $100,000 to $2,500,000
Rates: 7.95% to 10.95%+
Loan Fees: 1.50% to 2.50%+ (Based on overall Borrower qualifications)
Pre-payment: Allowed without penalty
Application Fee: $450
Underwriting Fee: $450
Term: Up to 18 months (longer terms available on an exception basis)
Loan to Value: Up to 75% of the appraised value based on the income approach. Cross collateralization allowed on other properties, if needed, for maximum or greater loan amounts.
Interest only payments based on funds drawn
Land purchase may be included in the construction loan
Full and limited programs available
Maximum Broker Fee: 1.50% to 2.00% (subject to Broker Compensation option)
Owner and non-owner occupied commercial properties are eligible
*Subject to change without notice

Loans available in the following states: AK, AL, AR, CA, CO, CT, DE, FL, GA, HI, IA, ID, IN, KS, KY, MA, MD, ME, MI, MO, MS, MT, NC, NE, NJ, NM, NY, OH, OK, OR, PA, RI, SC, TN, TX, UT, VA, WA, WY

Land Development Loan
This program is designed to provide a business loan to purchase and/or develop unimproved raw land for a residential or commercial subdivision. Construction financing is also available.

The Advantage
Fast pre-qualification, typically between 3 to 5 business days
Deal Directly with Loan Officer/Underwriter
Loans are available to Borrowers with excellent to less than perfect credit
Flexible draw schedules

General Terms
Loan Amounts: $100,000 to $1,000,000
Rates: 9.95% to 10.95% (Based on overall Borrower qualifications)
Loan Fees: 1.75% to 2.75%
Application Fee: $450
Underwriting Fee: $450
Term: 1 to 3 years
Loan to Value: Up to 50% of the appraised value, not to exceed 70% loan to cost. Loan to value could be less subject to a full underwriting and market review of the project.
Land purchase up to 55% of the purchase price. Cross collateralization allowed on other properties, if needed, for maximum loan amounts.
Maximum Broker Fee: 1.00% to 2.00% (subject to Broker Compensation option)
Loans available to qualified Developers with less than 5 years experience

Commercial Lot / Land Loan
This program is designed to provide a business loan to purchase a commercial lot or refinance a current commercial lot loan. Commercial lots must be eligible for present or future commercial construction. Construction financing is also available (See appropriate construction loan link above for more information).

Fast pre-qualification, typically between 3 to 5 business days
Deal Directly with Loan Officer/Underwriter
Fast Closings
Loans are available to Borrowers with excellent to less than perfect credit
Flexible draw schedules
Loan Amounts: $50,000 to $1,500,000
Rates: 8.95% to 10.95%+
Loan Fees: 1.50% to 2.50%+ (Based on overall Borrower qualifications)
Application Fee: $450
Underwriting Fee: $450
Term: Up to 36 months (longer terms available on an exception basis)
Interest only payments
Land purchase up to 55% of the purchase price. Cross collateralization allowed on other properties, if needed, for maximum loan amounts.
No minimum acreage requirements or maximum limitations
Commercially zoned land with entitlements
Maximum Broker Fee: 1.50% to 2.00% (subject to Broker Compensation option
*Subject to change without notice

Loans available in the following states: AK, AL, AR, CA, CO, CT, DE, FL, GA, HI, IA, ID, IN, KS, KY, MA, MD, ME, MI, MO, MS, MT, NC, NE, NJ, NM, NY, OH, OK, OR, PA, RI, SC, TN, TX, UT, VA, WA, WY
*Subject to change without notice
Loans available in the following states: AK, AL, AR, CA, CO, CT, DE, FL, GA, HI, IA, ID, IN, KS, KY, MA, MD, ME, MI, MO, MS, MT, NC, NE, NJ, NM, NY, OH, OK, OR, PA, RI, SC, TN, TX, UT, VA, WA, WY

 
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