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Bridge Financing
Immediate Funding for your project
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At Advanced Funding Solutions, our primary focus is to provide borrowers with short-term financing for situations that need immediate funding. Typically, our borrowers are seeking a faster closing than would be possible through a bank or conventional lender. The loan request may also be "unbankable" for one or more reasons.
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LOAN SIZE: $1,000,000 to $50,000,000. Primarily first mortgages.
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PROPERTY TYPES: Multi-family, Mixed-use, Retail, Office, Light industrial, Single tenant occupancy, Hotels, RV Parks, Restaurants, Gas stations, Commercial Condominium & Co-operative units, Residential Condominium & Co-operative units, Jumbo residential and Raw Land.
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LOAN TO VALUE: Up to 70% of property value. This program is designed to lend based on the asset value. Therefore, we focus primarily on comparable sales to derive value. We can use Broker Value Opinions or appraisals to confirm value. |
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LOAN TO PURCHASE PRICE: Up to 90%. This applies to cases where the borrower can justify why they are buying below market price. Loan to value restrictions still apply. |
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SELLER MORTGAGES: : Seller subordinate financing is allowed with the restriction that borrower makes a down payment of no less than 10% of purchase price in cash. Loan to value restrictions still apply.
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INTEREST RATES: The rates are fixed for the term of the loan between 8% and 14% per annum depending upon the application's strength. |
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LENDER POINTS: 2% to 8%
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TERMS: Interest only with 1-2 year balloon.
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TIME FRAME: Loans typically close within 2-4 weeks.
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PROCESS: Complete loan submission form and submit with required documents. A conference call with the borrower will take place to discuss terms and exit strategy. Upon verbal agreement, a term sheet will be issued. If the term sheet is accepted, due diligence will be completed and, if successful, closing documents are generated.
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APPLICATION COSTS: All third party reports and application fee shall be quoted. All third party report costs and Legal fees will be quoted in the Term Sheet. All reports are to be ordered by AFS. Application fee is $2,500 and the processing fee is $1,500 for all applications.
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LOCATION: Mainland USA.
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Our success is measured by our clients, and our mission is to be your source for the most appropriate - and advantageous - financing solution that helps you achieve your goals.
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Make Advanced Funding Solutions a part of your commercial finance team. Submit your confidential loan request here for quick review, or call our executive team directly in our offices at 212-295-2148.
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1-800-622-6384