STATED PROGRAM HIGHLIGHTS
Discover How Fast, Easy and Flexible Commercial Lending Can Be
Unlike most bank loans, Approved Finance Group’s stated commercial mortgage is a Stated Income/Asset Program. That means full document paperwork isn’t required — and you enjoy greater flexibility and faster turnaround times.
- No tax returns required
- No income verification
- Unrestricted cash-out
- Loan amounts under $5 million
- Secured on commercial properties like multifamily, mixed use, warehouse, office, retail, industrial, automotive, special use and more
- Several affordable payment options
- Automatic payment options — no more writing checks
- Fixed or adjustable rates
- 15 to 30-year amortization
- Loans to corporations, partnerships, investors, and trusts
AFG Stated Commercial Mortgage (AFGSCM) FAQ
Q: Who should consider an AFGSCM loan?
A. Perfect candidates for an AFGSCM loan are those who need financing for an income-producing or commercial property, but are unable to qualify for traditional bank financing because they're unable or unwilling to verify income or assets. We consider:
- Clients without sufficient credit history
- Business owners who want to take cash out of their property
- Entrepreneurs and self-employed people who want to purchase a site for their business
- Real estate investors who wish to put as little as 10% down (AFG allows CLTVs up to 90%)
Q: What type of income verification do you require?
A. Unlike banks and other conventional lenders that verify the borrower's personal income, we can pre-approve you with a completed Fannie Mae 1003 application that simply states the borrower’s income and assets. The only income verification required is on the property being financed. We require rent rolls and leases on properties with more than four units certified by the borrower. Our easy Stated Income/Asset process allows self-employed clients who cannot verify all of their income to qualify for financing through AFG.
Q: Can you finance environmentally sensitive property types such as auto repair shops and dry cleaners?
A. Yes, but the owner needs to complete an environmental questionnaire that must be submitted with the loan package. The information is reviewed by an insurance company in order to determine whether or not the property poses an environmental risk. The cost of the premium varies depending on the loan amount and property type. However, the cost is substantially less than that of a typical Phase I environmental report. By offering this environmental screening process, AFG can finance riskier properties that many other lenders will not.
Q: What is the AFGSCM "borrower's profile?"
A. One common denominator among all our borrowers is that they have a large amount of real estate equity and an immediate need for short-term capital. They cannot or will not go through the strenuous and time-consuming underwriting process required by conventional lenders.
Q: Who is my primary contact at AFG?
A. Although you have a team of people working to help you close your loans, your primary contact is your AFG loan officer. If you don't know who your loan officer is, please call 267-723-1088 and ask for the sales manager.
CONVENTIONAL COMMERCIAL MORTGAGE PROGRAM HIGHLIGHTS
Loan Types: Owner Occupied, Investment Properties, Acquisition, Refinance, Construction, Budget Loans
Loan Amount: $100,000 to $20 Million
For the Following:
- Shopping Centers
- Office Buildings
- Mixed-Use Properties
- Apartment Buildings
- Warehouse Properties
- Mini-Storage Facilities
- Not-for-Profits (5013C)
Features:
- Long Term Fixed Rates
- No Income Verification Products
- Non-Recourse Products
- 90% LTV Products
- Mortgage Products for Low Credit Scores
COMMERCIAL LOANS
Loan Types: Business Expansion, Acquisition, Restructuring or Debt Consolidation, Equipment Purchase/Lease, Accounts Receivable Financing, SBA Financing
Loan Amount: $100,000 to $20 Million
For the Following:
- Manufacturers
- Distributors
- Service
- Not-for-Profits (501C3)
- Retail
- Restaurants
Features:
- 80% Advance on A/R
- Up to 50% Inventory Advance
- Impaired Credit Situations
- Cash Flow Problems
- Personal Credit Problems
- Highly Leveraged Companies
- SBA Loans with Amortization up to 25 years
With an extensive lender network, AFG, Inc. has built its reputation on structuring commercial real estate transactions requiring both debt and equity placement. Fluctuations in the capital markets present significant challenges for investors and AFG, Inc. is pleased to provide financing, as well as, guide and advise its clients through the process. Whether you are looking for commercial financing or creative "out of the box" real estate loan alternatives, we can help.
AFG, Inc.'s approach is fundamentally different. Since we are not limited by our affiliation with any one bank, we are able to present your commercial loan to a broad spectrum of potential capital sources and secure the best terms and pricing that the market can offer. Equally important, AFG, Inc. remains very much involved in the transaction, sharing the burden of collecting and processing information, coordinating third party reports and driving towards a smooth and successful close.
Asset-Based Financing
AFG, Inc. can assist with senior debt solutions consisting of revolvers and term loans supported by accounts receivable, inventory, equipment and real estate. Asset-based lending structures are based primarily on asset values and secondarily on cash flows.
Size of Loans/Investments
Asset-based commitments typically range from $1 million and above. Asset-based lending is designed to be used for corporate acquisitions, recapitalizations, refinancing, verifiable turnarounds, debtor-in-possession and growth financing for middle market companies.
Loan Criteria
Asset-based loans are made based upon the value of your company's current and fixed assets. The particular focus is on your company's management, systems, operations, products, customer base and cash flow as well as the value and performance of collateral.
Ideal criteria include:
Manufacturer, distributor, wholesaler, retailer or select service company
Either relatively stable history of earnings and cash flow or confidence in value of collateral
Manageable risk of obsolescence, product substitution, or non-performance of collateral
An experienced management team
Firms experiencing rapid growth, operating turnaround dynamics and/or high leverage
