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Small Balance Plus™ Commercial Loans

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Small Commercial Loans
Crefcoa can help. Our Micro Equity Series program provides commercial mortgages for self employed borrowers or borrowers with credit challenges.
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Small Balance Plus Commercial Mortgage Loan Program Underwriting Guidelines

Crefcoa's Small Balance Plus Commercial Mortgage program general underwriting guidelines.
Commercial loans and apartments loans availability under the Small Balance Plus Commercial Mortgage program may vary depending on property type, state, population, economic conditions, exposure, and other variables that may negatively influence risk. Minimum loan size varies depending on asset type and location.

 

To determine if your property is eligible for financing under the Small Balance Plus program, complete the Quick Quote loan request summary and one of our commercial mortgage specialists will determine eligibility.

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Small Commercial Mortgage Loan Program Guidelines

Eligible Properties
  • Office Building
  • Multifamily 5 Plus Units
  • Bed and Breakfast
  • Mobile Home Park
  • Retail - Shopping - Out Parcel
  • Office Condominiums
  • Sales Distribution
  • Medical/Dental Office
  • Auto Repair
  • Health Care
  • RV Park
  • Warehouse - Distribution
  • Self Storage
  • Automotive
  • Flagged and Non-Flagged Hospitality
  • Mixed-Use Commercial/Residential
  • Light Industrial
  • Professional Centers
  • Restaurant
  • Convenience Store (No Gas)
  • Strip Center
  • Funeral Home
Commercial Mortgage Loan Size $250,000 - $2,000,000.
Fixed Term 3 year and 5 year fixed rate terms available.
Rate Adjustments At the end of the fixed term, the loan converts to an adjustable for the remainder of the loan term. Maximum adjustments equal to 2% for the first adjustment, 1% periodic and a 6% lifetime cap.
Pricing WSJ Prime + 3%-5%.
Prepayment Penalty 3% for 3 year fixed term and 5% for 5 year fixed term. No prepay after fixed term ends and loan converts to an adjustable.
Personal Guarantee Full-Recourse including all individuals with 20% or more ownership in the operating business for borrowing entity.
Amortization 30 years.
Minimum DSCR 1.20-1.30 depending on property type.
Maximum LTV 70% LTV and 80% CLTV.
Rate Lock Available.
Assumable Yes, subject to lender approval.
Impounds Tax and insurance required.
Credit Score 640 minimum credit score
Eligibility Commercial loans and apartments loans availability under the Small Balance Plus Commercial Mortgage program may vary depending on property type, state, population, economic conditions, exposure, and other variables that may negatively influence risk. Minimum loan size varies depending on asset type and location.
Documents Required for Initial Review
  • Two years and year-to-date income and expense statement for the subject property property.
  • Personal financial statement.
  • Schedule of real estate owned.
  • Interior and exterior photos.
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