Cheap Interest Only Bridge Loans for 4th Quarter

Just got through putting this out there to my clients.

Segway Funding , Inc. currently has interest only bridge funds available at extremely cheap rates for Single Tennant Properties nationwide. The following outlines the guidelines of the loan program:
Loan Amount: $1-10 Million
Asset Type: Single Tennant (industrial, commercial, retail, health clubs, etc.)
Term: 1-5 years
Prepayment: None after 12 months
Recourse: Yes, full recourse (non-recourse is not available)
Construction Funds Available: No
LTV: 60-75% (to get to 75% would need to be national credit tenant)
Interest Rate: Around 6 – 7%. Variable with a floor and cap. Fixed may be available on a case-by-case basis.
Origination Fees: 3 pts
Closing Timeline: 30-45 Days
The $180 Million allocation for interest only bridge funds is for the fourth quarter only. The allocation won’t last long so if you have a loan you wish funded, you must get them to me immediately!

Below is a link to the article. Awesome program but clients will need to hurry.


Press Release: Cheap Bridge Interest Only Bridge Loans for Single Tennant Properties 4th Quarter Only