CONSTRUCTION LOAN PROGRAMS

PROPERTY TYPES:                                RETAIL, OFFICE, INDUSTRIAL OR FLEX SPACE:

                                                                       MULTIFAMILY, MOBILE HOME PARK,                 HOTELS/MOTELS

 INVESTMENT AMOUNT:                        $3,000,000 - $500,000,0000 TERMS:                                                        12-36 MONTHS

AMORTIZATION                                           INTEREST ONLY

MINIMUM DSC:                                              1.25 - 1.5X

MAXIMUM LTC:                                               90% (PRIMARY MARKETS)                  

                                                                              85% SECONDARY MARKETS

RECOURSE:                                                     SUBJECT TO PROJECT QUALITY     AND                                               SPONSORSHIP STRENGTH

RATE BENCHMARK:                                       LIBOR

MARGIN:                                                              100-350 BASIS POINTS

GEOGRAPHICAL LOCATION:                         NATIONWIDE

SPONSORSHIP LIQUIDITY                               MINIMUM OF 10% OF PROJECT COSTS

THIRD PARTY REPORTS:                                 PHASE 1-ENVIRONMENTAL SURVEY

                                                                                  MAI APPRAISAL

APPLICATION FEE:                                             NONE

FUNDING:                                                               30 DAYS FROM DUE DILIGENCE                  PACKAGE