 | Stated Income Commercial Financing. This program is designed for the small business owner that cannot prove income in the typical way. The rates and terms offered are slightly more strict than a conventional lender, however it allows for borrowers to qualify. Unlike most bank loans, this is a stated income/stated asset program. That means full document paperwork isn’t required – and you or your clients will enjoy greater flexibility and faster turnaround times. | - No T1s, T4s or NOAs required.
- No income verification
- Unrestricted equity take-out
| Loan amounts up to $1.2 million. Secured on commercial properties like:
| - multifamily
- mixed use
- warehouse
- office
- retail
- industrial
- automotive
- rooming houses and more.
| | We Can Provide Financing For A Wide Variety Of Properties. |  | |
|  | | | Frequently Asked Questions Q: Which clients are candidates for our Easy commercial Financing? A: Perfect candidates for our program are those who need financing for an income producing or commercial property, but are unable to qualify for traditional bank financing because they are unable or unwilling to verify income or assets. Business owners who want to take cash out of their property. Entrepreneurs and self-employed people who want to purchase a site for their business. Real estate investors who wish to put as little as 10% down (we allow CLTVs up to 90 percent) Q: What type of income verification do you require? A: Unlike banks and other conventional lenders that verify the borrowers personal income, we can pre-approve your clients with a completed application that simply states the borrowers income and assets. The only income verification required is on the property being financed. We require rent rolls and leases on properties with more than four units certified by the borrower. Our easy stated income/stated asset process allows your self-employed clients who cannot verify all of their income to qualify for financing through us. Q: Can you finance environmentally sensitive property types such as auto repair shops? A: Yes, but the owner may need to complete an environmental questionnaire that must be submitted with the loan package. The information is reviewed by an insurance company in order to determine whether or not the property poses an environmental risk. The cost of the premium varies depending on the loan amount and property type. The cost is approximately the same as a typical Phase I environmental report. By offering this environmental screening process, We can finance riskier properties that many other lenders will not. | | | | | Eligible Properties We Can Provide Financing For A Wide Variety Of Properties. Use the expertise of our real estate professionals to determine the proper value for your commercial property and take advantage of the simplicity and speed of our programs to simplify your financing. Mixed Use: These properties integrate residential spaces with commercial uses, such as retail or office space.
Self-Storage Facilities: Now one of the most competitive building classes in the country.
Retail/Office Buildings: Designed for retail or office sales and display.
Warehouses/Light Industrial: Single and multi-tenant facilities.
Automotive Services: Includes everything from auto repair facilities to retail auto shops and part supply stores.
Special Purpose/Unique Properties: Our lender will consider all commercial and unique properties.
Hotels/Motels: Our valuation assumptions are based on facts relative to the specific property.
Restaurants: We offer competitively priced financing for a wide range of properties.
Multi-Family Housing: We fund residential structures that contain five or more dwelling units in the same building | |
What else do you need to know? 
- The property must be located in an active resale and rental market where current market rents exist for comparable properties, and where the property is readily marketable
- Mortgages require a current appraisal (AACI-qualified, bank approved appraiser; CMHC guidelines apply for CMHC insured mortgages), a passing environmental report (phase 1 ESA) and may need a report on the building condition
- Variable and fixed rate options are available. Variable rate option (prime-based) can be converted to fixed rate option
- Mortgages are available for a maximum of 5 years (10 years for CMHC-insured properties)
- Multi-residential buildings may be amortized over 25 years (CMHC-insured may be up to 35 years). Other types of property may be amortized over 20 years
Multi-Family Residential - 1-4 Units can be financed up to 100% with fully discounted rates. These rates are typically well below bank posted. There is also very little cost to the client in terms of 3rd party reports (Appraisals, environmental etc)
- 4-6 Units can be very tricky to finance as many lenders view these properties as a commercial mortgage. Typically these can be financed upto 75% at residential rates.
- 6-30+ Units are treated as a commercial mortgage requiring full appraisal, environmental and sometimes engineering reports. These can be financed upto 85% LTV. Rates will vary greatly depending on loan size from Posted to Discounted residential.
- Rooming houses are viewed by the lenders as a business. Typical LTV range from 50-65% with rates posted – posted plus 2%.
Mixed – Use (Store Front Apartment Buildings) - Mixed use properties will vary on LTV and rate greatly with a maximum of 80% ltv.
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