What documentation is needed for a loan?

For most loans we will need an appraisal performed by an MAI appraiser, title report from Stewart Title Co. or Chicago Title Co. and a survey.

How long does it take to close a loan?

For most loans we will need an appraisal performed by an MAI appraiser, title report from Stewart Title Co. or Chicago Title Co. and a survey.

What is your minimum and maximum loan size?

$200,000 up to $3 million. Minimum loan size may be lowered to $100,000 in special cases.

Do you run my credit report?

No. All are loans are asset driven; the property value, cash flow, and experience and reputation of the borrower are the basis for our underwriting decisions. However, we usually ask for the borrower to obtain their own online credit report, to determine their credit likelihood to obtain a “take-out” in 12-24 months.

What is the maximum loan to value (LTV) ratio?

We generally lend up to 65% of value and can consider adding equity to the capital stack, potentially bringing 100% of funds to a project on a case by case basis.

What do you need to make a preliminary decision?

Obviously, the more information you can provide the better. We will need an executive summary of the proposed loan, identifying the property, approximate value, loan amount desired, length of ownership if refinanced, copy of purchase contract if a purchase, last 12 months operating history and a proposed budget for any property improvements.

What happens after you make a preliminary decision?

If your proposed loan fits our criteria, we will issue a contingent letter of commitment outlining terms and conditions for closing.

What are your usual terms?

Interest rates are 10 – 13%, terms of 1 to 2 years, interest only and 3-5 points at closing.

Do you charge any upfront fees?

No, we only receive payment when and if we fund your loan request. However, all valuation reports are paid by the borrower and are the property of GAF.

Who pays for the appraisal?

You do.

GAF Commercial

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We focus on what we know. We look to help companies reach their full potential by combining our operational approach, capital and transaction experience with proven operating executives who have the vision, experience, and commitment to grow their businesses.

Many prospective clients initially seek our assistance with the idea that additional debt can solve their capital crisis. In a number of those scenarios we determine that additional debt will amplify the problem and the true solution involves our capital as Equity Partners. Our objective in these cases is to articulate agreements that are clear and have identifiable benchmarks for performance which will allow our funds to be returned as quickly as possible, while maximizing the business-property owner’s collateral and enabling efficient long term debt to be obtained.

We invest in people. Call now (512) 846-9344