A.Commercial Small Loans Property Lending Program

Loan Parameters Property Types Apartment, storefront, retail, industrial and office buildings. Lending Areas Any geographic location within Canada (population 25,000 and above). Loan Purposes Acquisitions, refinance existing debt, capital improvements, equity takeouts. Loan Types Conventional first mortgages only. General Criteria   Apt Storefront Retail Ind Office Maximum LTV 75% 65% 65% 65% 65% Equity Required (Normally) 25% 35% 35% 35% 35% Minimum DCR 1.25 1.35 1.35 1.35 1.35 Max. Amort. (Yrs.) 25 25 20 20 20 Reports Required Appraisal and Phase I Environmental Report or Environmental Questionnaire. Loan Sizes $200,000 - $3,000,000* Lender Fees 0.25% - 0.5% (depending on real estate type) Broker Compensation Can be added into mortgage commitment Interest Rates Fixed and Floating Available Terms Floating and 1 - 5 years. Available Amortization Up to 25 years (varies by product type) Personal Guarantees Full guarantees are required with a minimum beacon score of 680. Applications with beacon scores lower than 680 to be reviewed and accepted by FNFC credit committee. Typical Information Required to Obtain Detailed Loan Proposal - Loan Amount Required and Purpose - Rent Roll / Leases - Project Operating Statements - Ownership Details - Pictures / Property Description - Details of Registered Debt or Purchase and Sale Agreement Escrows Tax escrows are required

B. Special loan from $1M to 35M

Apartment properties, retirement homes, mobile home parks, anchored and unanchored retail, industrial properties, office buildings, self-storage facilities and hotels

• 80% conventional financing for multi-family projects
• Personal guarantees are usually not required
• Equity take-out available
• No geographic restrictions
• 5 to 10 year loan terms
• Amortization period up to 30 years. 

C. Other Program

 Eligible Properties

• Mixed Use – These properties integrate residential spaces with commercial uses, such as retail or office space. Often these properties have a ground floor retail store or office with apartment(s) above, all in the same building.

• Self-Storage Facilities – Now one of the most competitive building classes in the country, these facilities are designed primarily for storage. This category also includes cold storage, RV and boat storage facilities, and truck terminals (transit facilities).

• Retail/Office Buildings – Designed for retail or office sales and display, this category includes stand-alone buildings such as offices, supermarkets, convenience stores, drug stores, department stores, bakeries, and beauty shops – as well as strip centers, and neighborhood and community shopping centers.

• Warehouses/Light Industrial Properties – Single and multi-tenant facilities that are used for warehousing, light manufacturing, distribution, research, and development. Does not include buildings where heavy manufacturing or specialized industrial operations, such as welding, occur.

• Automotive Services – Includes everything from auto repair facilities to retail auto shops and part supply stores.

• Special Purpose/Unique Properties – InterBay Funding will consider all commercial and unique properties that fall within our program guidelines and loan amounts, including day care and educational facilities, funeral homes, campgrounds, outdoor entertainment centers, trailer and mobile home parks and marinas.

• Hotels/Motels – With our industry knowledge and expertise, we feel we understand the non-flagged world of hotels and motels better than most lenders. Our valuation assumptions are based on facts relative to the specific property.

• Restaurants – We offer competitively priced financing for a wide range of properties, including owner-occupied and leased facilities as well as fast-food and full-serve restaurants in neighborhood or urban settings.

• Multi-Family Housing – We fund residential structures that contain five or more dwelling units in the same building. These multi-story buildings generally offer individual apartments for rent with common area facilities, such as an entrance, lobby, elevator, stairs, hallway, walks, or grounds.