Standby Commitment

 

$10,000,000 and up to $150,000,000.

Higher Loan Amounts are considered on a case by case basis

Apartments – Retail/Shopping Centers – Office/Warehouse – Industrial Properties – Nat’l Chain Hotel/Motel – Assisted Living/Medical – Self Storage – Manufactured Housing/Mobile Home Parks – Leisure (Golf Courses)

Term of Commitment : Typically 12 months with options to extend.
Commitment Fee : One point for first 12 month period, with options to extend for one point for each six-month period.
Funding Fee : Case by case basis.
Endorsements : In most cases, joint and several personal liability is required.
Geographical Area : Continental U.S., territories of the United States, and Canada. Caribbean, West Indies, Costa Rica. Preferably metropolitan areas of +200,000 or more.
Additional Collateral : In some cases, additional collateral may be required in the form of real estate or a letter of credit.