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Eligibility for
Conventional First Eligibility
Criteria for LTVs > 60%
Up to 75%
Maximum LTV up to 75% for the following multi-purpose property
types:
- Office/warehouse commercial and industrial
- Medical office
- Mixed retail with office
- Light manufacturing and industrial
- Office
- Dental office
- Retail
- Small business concern (or tenant) shall have been operating for
at least 2 years.
- Primary owners (and/or small business) cannot have previously
filed for bankruptcy protection within the last 10 years.
- Users, fabricators, or manufacturers of environmentally
sensitive material are ineligible.
- Total improved building size shall be < 200,000 SF.
- Properties shall be located in or near urban areas in good
commercial or industrial neighborhoods with other similar type
buildings in the surrounding vicinity and have access to public
utilities including water, telephone, sewer, electricity, and
(preferably) natural gas.
Up to 65%
LTV maximum of 65% on the following semi-generic types:
- New automobile dealers
- Light automotive service and repair
- Auto tire and brake centers
- Grocery stores or markets
- Funeral homes
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