Small Balance
Commercial Loan Program

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Small Balance Commercial Loan Program

A "small balance commercial" loan is a short-term bridge loan used to acquire or refinance a property when conventional financing is not available or will simply take too long to close. A hard money loan is a great fit in the following situations:
  • When you need to close fast (in less than 2 weeks).
  • When the property is not generating any income (not leased).
  • When the property needs renovations.
  • When you don't have great credit (below 620)
  • When you can't provide verifiable income (no tax returns available).
  • Foreign National Borrower
At World's Fair Capital, our hard money loans close very quickly... even in as little as 5 days! Our hard money loans require no personal income verification and very little documentation!

What is a hard money loan typically used for? A hard money loan also known as an asset based loan is traditionally used to finance the acquisition of the property, as well as improvement or renovations for real estate investors or as a short term financing solution for borrowers who can not qualify through a conventional bank. In the case of a real estate investor, after the renovation is complete the property will be sold or leased up. The hard money loan will then be refinanced with a lower rate & longer term permanent financing. Essentially, hard-money loans "bridge" the gap for the investor until permanent financing becomes available or the asset is sold.

Program Overview

Loan Amount: $1,000,000 - $25 Million


Term Length:  1 YR, 2 YR, 5 YR, and 10 YR Terms


Max LTV:          Up to 70%


Amortization:  Interest only or Full Amortization


Interest Rate:  Starting at 11.49%


Closing Time:  10 - 17 Days


Loan Use:        Purchase, refinance, cash-out, 



Pro's Small Balance Commercial Loans:

  • Flexibility
  • Quick closing in 10 - 17 Days
  • Interest-only or Full Amoritization
  • Wide range of property types
  • 650 Minimum Credit Requirement
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What Do I Need To Qualify?

  • Simple... Equity in the property!
  • Origination Fee: 1.00% - 2.50% of the loan amount
  • Underwriting Fee: $1,495 - $1,995
  • Legal Fee: $1,495
  • Prepayment Penalties: Minimum of 3 Years (Declining: 3%, 2%, 1% Structure)


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Eligible Properties for Small Balance Commercial Loans


Single Family

Single Family is classified as one to four-unit residential use dwellings including condominium, P.U.D., townhomes, duplex’s, triplex’s, and quadplex’s. At World's Fair Capital, we will lend to real estate investors and entities looking to purchase, refinance, fix & flip, or buy to rent from $75,000+.


Multi Family

Multi-family is a classification of housing where multiple units (5+) for residential use are contained within one or more buildings within one community or complex. At World's Fair Capital, we will lend to real estate investors looking to purchase or refinance multi-family properties with loan amounts of $250,000+.


Mixed Use

Mixed-use is a type of development that blends residential and commercial uses into one integrated complex or building. At World's Fair Capital, we will lend to real estate investors in the following scenarios: purchase, refinance, bridge to stabilization, bridge to sale, or bridge to construction take out on mixed use projects with loan amounts from $250,000+.


Other eligible properties include: Self storage, senior housing, marinas, parking facilities, automotive


Common uses include: Acquisition, refinance, cash-out, renovation / construction



Retail

Retail is any property used for commercial retail space such as a storefront for selling goods or services. World;s Fair Capital will lend to real estate investors and business owners who are looking for a loan for: purchase, refinance, bridge to stabilization, bridge to sale, or bridge to construction take out from $250,000+.


Office

Office is a property classification which generates income from tenants comprised of businesses and professionals. World's Fair Capital will lend to real estate investors and business owners who are looking for a loan for: purchase, refinance, bridge to stabilization, bridge to sale, or bridge to construction take out from $250,000+.


Hospitality

World's Fair Capital will lend to experienced operators with a flag in the hotel and lodging sector. Loan amounts are $500,000+.




Required Documents for Closing

Property Documents



  • Purchase Contract
  • Payoff Statement (if Refinance)
  • Rent Roll & Leases 
  • Renovation Budget (if Rehab)


Personal Documents



  • Loan Application 
  • Track Record / Experience / SREO
  • Last Month's Bank Statement
  • Drivers License and/or Passport


Business  Documents



  • Articles of Incorporation
  • Operating Agreement (LLC) or Bylaws (Corp.)
  • EIN Letter



Benefits of our Small Balance Commercial Loans:


  • No Income Documentation Required
  • 650+ Minimum Credit Requirement
  • Quick Closing 10-17 Days 
  • Rates Starting at 6.35%
  • DSCR of 1.00 at Closing & 1.20 at Stabilization
  • 1.00% - 2.00% Lender Fee


Loan Fees and Costs


  • Origination Fee: 1.00% - 2.50% of the loan amount
  • Underwriting Fee: $1,495 - $1,995
  • Legal Fee: $1,495


Prepayment Penalties


  • Minimum of 3 Years (Declining: 3%, 2%, 1% Structure)