First National - CE - Small Loans Program

Small Loans Program
First National’s Small Loans Program is ideal for clients seeking up to $3 million in conventional commercial mortgage financing for up to 65% of the property value. Funds can be used for acquisitions, refinances, equity take-outs or capital improvements. Ideal property types include: multi-family, storefront, mixed use, retail, industrial and office.

Loan proposals are typically provided within 48 hours, with timely closings and quick funding.

Our Experts
Our Small Loans experts have worked with thousands of clients to understand their needs. We will guide you through the commercial mortgage process and develop a customized proposal detailing your loan strategy, preferred terms, best rate solution and optimum financing recommendation.

The next time you have a small commercial mortgage opportunity, make First National your first call at 1.800.465.0039

Quick Facts - Commercial Small Loans Property Lending Program
Loan Parameters
Loan Sizes	$200,000 - $3,000,000
Property Types	Apartment, storefront, retail, industrial and office
Lending Areas	Locations with a population over 25,000
Loan Purposes	Acquisitions, refinance existing debt, capital improvements, equity takeouts
Loan Types	Conventional first mortgages only
General Criteria
	Apt	Storefront	Retail	Ind	Office
Maximum LTV	65%	65%	65%	65%	60%
Minimum Equity Required	15%	15%	15%	15%	15%
Minimum DCR	1.25	1.25	1.25	1.35	1.35
Max. Amort. (Yrs.)	25	20	20	20	20
Reports Required	Appraisal and Phase I Environmental Report or Environmental Questionnaire (on exception)
Lender Fees	0.5% - 1.0% (depending on property type)
Broker Compensation	Can be included in the mortgage commitment
Interest Rates	Fixed and Floating
Available Terms	Floating and 1 - 5 years
Available Amortization	Up to 25 years (varies by product type)
Personal Guarantees	Full guarantees are required with a minimum beacon score of 680. Applications with beacon scores lower than 680 considered on an exception basis
Typical Information Required to Obtain Detailed Loan Proposal	- Loan Amount Required and Purpose - Rent Roll / Leases - Project Operating Statements - Ownership Details - Pictures / Property Description - Details of Registered Debt or Purchase and Sale Agreement
Escrows	Tax escrows are required

For commercial financing over $3 million, please call the local office for specific rates and criteria.

View our recent financings.