(1) Is Advance Commercial Finance “ACF” a Direct Lender?
ACF is both a Direct Lender and an Intermediary. Our borrowers are given an alternative form of financing with regards to our pool of investors and/or capital partners. As a Direct Lender we serve as principal in all our closings whether they are portfolio loans, securitized or agency transactions.
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(2) What are ACF’s minimum and maximum loan amounts?
ACF only provides commercial financing and as such does not provide residential loans to consumers. For most asset classes our minimum loan amount is $1MM and we have no maximum loan amount. Loans that exceed 100MM will require Syndication or Participated Out with approved lenders. Listed below are property types and the lending limits:
• Multifamily: A minimum of $1MM to $50MM on this asset class.
• Retail: A minimum of $1MM to $100MM on all retail assets.
• Office: A minimum of $1MM to $100MM for Suburban and Central Business District Class A office. Class B space considered with a strong sponsor.
• Industrial: A minimum of $1MM for Industrial Properties.
• Hospitality: A minimum of $1MM minimum to $200MM for Flagged Hospitality Assets.
• Construction: A minimum of $1MM to $100MM.
• Mezzanine: A minimum of $1MM to $15MM. BCF requires a minimum sponsor co-invest of 5%-10% based upon sponsorship suitability and project strength.
• Equity: ACF will consider equity requests of $5MM of more for the aforementioned asset classes.
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(3) What fees does ACF charge?
ACF offers par pricing on all institutional quality permanent financing. Construction loans, Structured transactions or deals with underwriting issues may incur loan fees above par. Additionally ACF does not charge upfront fees (advisory services notwithstanding) for its loans. There is absolutely no cost or obligation to the sponsor. However before we even get to the issuance of a Loan Application and assuming that we or our network of investors have an interest in your transaction, investors will issue a Letter of Interest or Term Sheet which serves as a soft quote on pricing and sizing.
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(4) What are ACF’s Loan Terms and Rates?
Each transaction is priced and sized based upon the unique underwriting characteristics of the project. One of our strongest value propositions is that we are both a Direct Lender and Intermediary. We can provide non-recourse long term fixed rate pricing, short term floating rate pricing or float to fixed options.
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(5) Does ACF work with Mortgage Brokers?
ACF offers select mortgage brokers access to capital. ACF has one of the largest approved broker networks in the industry. However we only work with approved brokers and who have completed our application process to insure submission of qualified projects.
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(6) How long does it take for ACF to close my loan?
All commercial projects are unique with different characteristics. We can close most transactions and will fund within 45 days to 60 days of a signed Loan Application being received by ACF. We understand all issues with regard to expeditious processing and closing and have solid quality assurance programs in place to insure that we meet all execution goals and maintain operational excellence.
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(7) How do I contact a loan officer?
ACF loan officers are divided into teams based upon asset classes, loan amounts, and loan types. We maintain a full time business development officer to insure that all origination inquiries are routed to the loan officer most qualified to address your needs. Our business development officer can be accessed via our toll free number, local direct dial numbers or via e-mail. For more information please view our contact page.
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