Special Purpose Properties usually consist of: single tenant assets, which may or may not be owner operated and the property is usually limited or restricted to a particular use or set of uses.
LOAN LIMITS $250,000 to $5,000,000
PROPERTY TYPES
Automobile Dealerships Automotive Service and Repair Assisted Living Facilities Grocery Stores and Markets Educational / Day Care Car Wash (Full Service and Coin Op) Funeral Homes
Restaurants
Bowling Alleys Properties with excess land RV Parks
UNIQUE COLLATERAL
Hotels/Motels
SFR as Commercial
Restaurants/Bars
Office Condo's
Non-Profit Orgs.
Golf Courses
Charter Schools
Mixed-Use
LOAN TYPES
Purchase Refinance
Cash Out Refinance
MAX LTV
90% Owner Occupied Purchases (SBA 504) 65%-75% Purchase (Non-SBA, up to 90% CLTV) 65%-75% Refinance / Cash-out
LOAN TERMS
25 years fully amortized 20 years fully amortized 15 years fully amortized (Car Washes Only)
Points 2.0%-5.0%
Upfront Cost $10,000.00-$20,000.00 NON-REFUNDABLE
Rates 350-650 bps plus 5 YR T-Bill Index
MINIMUM CREDIT SCORE
650
AVAILABLE PROGRAMS
5 YR Fixed SBA 504 Adjustable Conversion
THE PALM TREE FINANCIAL DIFFERENCE
No Balloon Payment Broker or referral source 100% protected Flexible Underwriting Quick Closings Simple Documentation Rate locks available at no cost
Initial Documentation Required to proceed to a Term Sheet/Letter of Interest:
Sponsorship Package -Bio's for all Principals (must include a list of current owned or previously owned real estate) -Financial Statements for Principals -Credit reports for all Principals (within the last 90 days) A completed Financing Request Form (see "Forms" tab at the top of this page). Executive Summary on the business Offer Memorandum on the subject asset if the transaction is an acquisition Color Photos of the subject property (color rendering if new construction) Detailed Sources & Uses of Funds Detailed Construction Plans Detailed Construction Budget Five Year Detailed Performa Feasibility Study (if available) Business complete tax returns for the last three years Personal complete tax returns for the last three years on all Principals Current Business Balance Sheet and Profit and Loss Statement Previous Third Party Reports -Environmental -Engineering (property solutions report) -Appraisal -Owners Title Policy -General Inspections (roof, termite, etc.) -Survey Current Insurance Policies (copy of declaration page) Any other information you believe to be of importance please include
Palm Tree Financial cannot complete a proper review and ultimately produce terms and or a quote we can stand behind without a complete submission package from you. Kindly submit a complete package electronically, we prefer all packages to be submitted via email/electronically, we do have the capability to receive large files electronically. If you are not able to generate some of the required documentation, Palm Tree Financial does offer documentation services (e.g. Performas, Executive Summaries, Source & Uses of Funds, etc), please visit the tab at the top of our website "Documentation Services Offered" for more details.
If you are a referring Broker you must complete the PTFC Referral Agreement and accompany the Referral Agreement with your submission (this agreement is only required on your first submission). You can find PTFC's Referral Agreement under the "Partner with Us" tab at the top of this page). PTFC will not review any financing submission without an executed referral agreement by the referring Broker and or Third Party referring source.
General pre-screen turn times are 3-5 business days. PALM TREE FINANCIAL WILL NOT REVIEW ANY PROPOSAL FOR FINANCING THAT IS NOT A COMPLETE SUBMISSION FILE.
