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Commercial Real Estate Loan

Commercial Real Estate Loan

Corporate Builidng

Commercial real estate is a property used for business purposes. Most often, commercial real estate is leased to tenants to conduct business, or the landlord is conduct business in collecting rental income. This category of real estate ranges from an apartment building to a shopping center or hotel.

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Commercial properties may refer to:

  • retail buildings

  • office buildings

  • warehouses

  • industrial buildings

  • apartment buildings

  • hotel and motel

  • student housing

  • one to four family investment property

  • “mixed use” buildings, where the property may have a mix, such as retail, office and apartments.

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Investing in commercial real estate can be rewarding. Investors can make money on a monthly basis by collecting the rental payment but also through property appreciation when they sell.

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Investors can invest directly in the property as investments and become landlords with active management. People best suited for direct investment in commercial real estate are those who either have a considerable amount of knowledge about the industry or who can employ firms who do. Commercial properties are a high-risk, high-reward real estate investment. 

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Detail Instruction

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Essencap offers commercial real estate loan at a competitive rate/program. We can provide solution in a variety of situations.

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To start the process, please follow the below instruction and provide the information.

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1) For investor greater than 20% ownership,​

  • Please fill out the attached 1003 application (personal financial statement)

  • 3 years of personal tax return

  • If the borrower owns other business.

  • Please provide 3 year tax returns on the business.

  • Year to date financial on the business

  • Debt schedule per attached, please includes all credit card, mortgage, car loan

  • Please provide most recent statement to support the debt schedule.

 

2) 3-month bank statement

 

3) Please provide investment summary

 

4) Rental income per each unit, and lease term

  • Annual expense (Tax, Insurance, Utility, Management Fee)

 

5) Purchase Contract

 

6) Copy of Leases

 

7) Please disclose credit condition for any judgement, late payment and if you know you estimate credit score.​

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Any question please contact us at fax/phone 888-269-1033

Small Busiess Owner Loan
Small Business

Businesses needs funding for many different purposes: purchasing fixed assets (equipment, machinery and commercial real estate);  refinancing existing debt; buying another business (we can offer business only loan); bolstering working capital.

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Industry covers:

  • Assisted living Facilities

  • Motel, Hotels, and Bed and Breakfast 

  • Restaurant 

  • Nightclub and Bar 

  • Retail stores

  • Business Services and Office-based Companies

  • Auto repair shops

  • Auto and RV dealership

  • Car wash facilities

  • Childcare and Preschool

  • Self-storage facilities

  • Gas station or convenience store 

  • Importer and wholesaler

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Detail Instruction

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1) To further understand your situation, can you provide the following information. 

  • 3-year personal tax return.

  • 3-year business tax return.

  • Year to date financial statement, balance sheet, income statement, AR, AP and inventory report.

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2) Personal financial statement (1003 or SBA 413 form) (per attached)

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3) Debt Schedule (per attached),

  • Please provide the most recent debt statement.

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4) Three months bank (computer screen shoot is not acceptable)

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5) If this is real estate acquisition, business target location, address, the purchase price.

  • Is the business use more than 50% of the space?

  • Is the business operating in the location already? Please provide copy of the lease.

  • If there are other tenants, please provide lease and rental income.

  • Please provide real estate tax and insurance.

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6) If this is a working capital or inventory funding request, please explain how the loan will help you.

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7) A one-page summary of your business.

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8) Loan request, ideally what is the amount of financing would you like to obtain.

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9) Please provide your credit condition, if you know of any judgment, late payment..etc.

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Small Business Owner Loan

Construction Loan

Construction Loan

Construction Sites

Essencap offers construction loans for owner business occupant, apartment and condo construction projects. Please find our checklist requirement below.

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1) For investor greater than 20% ownership,

  • Please fill out the attached 1003 application.

  • 3 years of tax return (both personal and business (if the borrower own any other business)

 

2) Debt schedule per attached

 

3) Please provide a project summary

  • Budget

  • Land acquisition cost

  • The hard cost of material

  • All legal, architecture, and labor cost.

  • Down Payment Amount

  • A brief explanation of the timeline 

 

4) Description of the project,

  • # of the unit, price point, permit status…etc.

 

5) Market Study

  • Rental rate – need projected rental roll

  • Sale Price – need projected sale price

  • Comps 

 

6) Builder / Investor resume

 

7) An estimate of the borrower's credit score. Any credit condition that we need to aware of.

 

8) Any recent appraisal /environment report

 

Tele/Fax: 888-269-1033                  wecare@essencap.com

Direct 1 to 4
Small Business
House

• Full 30 year terms, no balloons

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• Streamlined qualification process emphasizing property level  cash flow 

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•  No tax returns required; No DTI calculations 

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• Up to 80% LTVs

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• Simple, haggle-free pricing you can depend on

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• Protect your identity and other assets by borrowing in a corporate entity

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Detail Instruction

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  • Copy of Driver License and Passport

    • For the non-US citizen, please provide a green card.

    • Foreign nationals please provide a travel visa.

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  • For two of the past five years, do you own any other investment property? Will require an questionnaire.

    • Is the subject property under management by a Property Management Company.

    • If self-manage, can you provide 24-month deposit prove with cancel check or bank statement, or Schedule E

      • Please note, it does not impact our ability to lend. There is a Loan to Value adjustment.

      • Is the subject property under management by a Property Management Company.​

        • Will provide Management Questionnaire

  • For purchase, provide a purchase contract

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  • For refinancing, provide the most recent bank statement

    • Will need a payoff letter at the time of closing.

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  • If the property is part of the HOA association

    • Confirm the number of units sold, % of ownership

    • Require HOA by-law

    • Please provide the most recent HOA statement​

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  • Most recent real estate tax statement

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Then we need

  • appraisal,

  • entity document,

  • insurance,

  • 2 month bank statement to close (to show down payment, 9 month liquidity)

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Direct Lending
1 to 4 Family
Investment Property

Bridge

Bridge / Fix & Flip Loan

Construction Site

Fix and flip loan is designed to provide leverage for an investment property that needs works. The plan for our borrower is to fix the property and sell it. And most importantly you keep all of the profit. We make the financing easy, we typically close on the funding transaction in under 10 to 15 days. Our loan is to provide funding for the property purchase plus funding for the renovation. So you don't have to worry about investment capital.

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Essencap is the direct lender in the fix and flip. The funding process simple and strength forward. 

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1) Contact us. Best for us to understand your project scope. Keep in mind we are here to serve you.

 

2) Document Collection & Review. We conduct credit & background check. We gather Real Estate Experience & Personal Financial Statement. We order the Appraisal Report, the final value is based on your scope of work. 

 

3) Underwriting and title process. ​

 

4) Funding

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Detail Instruction

 

1) For pre-approval please fill out the intake form. 

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2) For process we need the application. 

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3) Copy of ID -Driver License/Passport

  • For the non-US citizen, please provide a green card

  • Foreign nationals please provide a travel visa.

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4) Please disclose the borrower's credit condition such as credit score and condition

  • borrower is require to e-sign e-consent and credit authorization

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5) If this is a purchase, please provide a purchase contract.

  • Refinance, provide the most recent mortgage statement.

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6) Review of borrower experience, please fill out the below track record link. 

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7) Line items of the renovation budget. Per attached budget

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8) Borrower assessment of current property value and as completed value.

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9) We request third party report such as appraisal, feasibility study, title, and insurance. 

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10) We fund!

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