A200 - Credit Challenged Loans
Many Small Business Owners are unable to obtain traditional Bank Financing for a variety of reasons. Alliance understands this and will work hard to fully understand the situation and provide you with a financing solution whenever possible.
A200 - Credit Challenged / Storied Loans General Guidelines
| Minimum Loan Amount: | $75,000 |
| Maximum Loan Amount: | $400,000 |
| Rate: | Starting at 11.25% |
| Loan Term: | Up to 25 years fixed rate |
| Amortization: | Up to 25 years |
| Maximum Loan to Value: | 60% - varies by property type |
| Minimum DSCR: | 1.25 |
| Prepayment Penalty: | 5,4,3,2,1 declining |
| Credit: | We will consider credit scores under 600 or other credit challenges on a case-by-case-basis |
| Property Types: | Apartment Buildings, Office Buildings, Multifamily, Retail, Mixed-Use, Hotel/Motel, Day Care Facilities, Hair Salons, Auto Repair, Auto Body Shop, Funeral Homes, Office/Warehouses, Garage/Storage |
| Alliance Fees: | Typically 3-5 % if the loan amount |
| Appraisal: | You will have to put up money for an appraisal once a conditional loan approval has been issued and accepted |
| Property - Tier 1 | Multi-family (2+) Mixed-use |
| Property - Tier 2 | Retail Owner Occupied Office Warehouse Light Industrial |
| Property - Tier 3 $500K Maximum Loan Size and/or 60% Maximum LTV | Daycare Center Mobile Home Park Self-Storage Automotive Restaurant/Bar Hotel/Motel Investment Office Condominiums Funeral Home |
