COMMERCIAL LENDING

The commercial lending division of AMAC specializes in originating loans on commercial or income producing properties. We have no minimum loan amount with a preference for transactions of $700,000.00 and under. We will look at any transaction on an individual case basis and can lend up to $2,000,000.00 per project on the right deal.

We underwrite our loans using a common sense approach. Although we require complete documentation, unlike most institutional lenders we underwrite our loans using the property as the primary consideration. Credit or property issues are usually not a problem.

To have us take a look at a proposed transaction, use our online MINI PROPOSAL FORM® or download our MINI PROPOSAL FORM® and fax it to us at 530-546-8758.

To apply for a commercial loan please download the LOAN SUBMISSION CHECKLIST. This will help you assemble the items needed for us to begin processing your loan request. You will also need to include a completed COMMERCIAL LOAN APPLICATION, and the LOAN REQUEST FORM. The loan request form will give us an overview and help us to understand your proposed transaction. The CONSENT TO RELEASE INFORMATION.

Lending Criteria:

Eligible Properties: Any commercial or income producing property. Land considered on a per case basis. No owner occupied 1-4 unit properties. We will look at 2nd homes and residential rental properties.

Eligible transactions: Acquisitions, rehabilitations, tenant improvements, conversions, special situations.

Terms: We offer amortized, partially amortized loans and short term, interest only bridge loans.

Loan Rate: Loans priced according to LTV, security offered, property type, etc., generally from 8%-13% fixed.

Prepayment penalties: Generally we do not charge prepayment penalties or exit fees.

Loan purpose: Loan must be used for business purposes only.

Loan to value (LTV): In some cases we can lend up to 80% of the property’s value, but we prefer LTV’s of 75% or less. Value is based on our review of any appraisal. On construction or renovation loans, the loan amount will be based upon the completed value. Secondary financing may be allowed, however we always require that the borrower have a substantial investment in the property.

Loan size: Our preferred loan size is $700,000.00 and under but we can lend up to $2,000,000.00 per project.

Collateral: We lend in 1st or 2nd position on real estate only. In some cases we take an assignment on furniture, fixtures and equipment (FFE).

Origination fees: Usually 3-5%.

Ownership entities: Most entities including single asset entities are acceptable.

Recourse: Full recourse to the individual borrower and/or guarantor is required.

Deposit: We usually require an upfront deposit of 1% of the loan amount or $4,500.00 upon preliminary loan approval . Fee is credited towards your closing costs and is refundable minus any out of pocket expenses in the event of cancellation.

Third party reports: Appraisal, Environmental Survey-Phase 1, Flood Zone Certification required. Existing reports may be acceptable, subject to review. In some cases new inspections and/or reports may be required.

Closings: Most transactions can be closed with 2-3 weeks from our receipt of a complete loan package. Emergency funding or bridge loans can be closed within 3-7 days, on a per case basis, depending upon the situation.

Send or mail the completed package to the following addresses. We will respond to your proposal or loan package within 24 hours of our receipt.

Mail: P.O. Box 606
Kings Beach, CA 96143

Delivery: 8581 No. Lake Blvd., Suite 2
Kings Beach, CA 96143